Chevron Correlations

CHV Stock

EUR 157.32 2.42 1.56%

The current 90-days correlation between Chevron and REVOLVER RES is 0.33 (i.e., Weak diversification). The correlation of Chevron is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Chevron Correlation With Market

Poor diversification

The correlation between Chevron and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chevron and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Chevron could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chevron when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Chevron - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Chevron to buy it.

Moving together with Chevron Stock

0.97	TKDA	Takeda Pharmaceutical	Pair Corr
0.91	CLN	The City	Pair Corr
0.93	2HZ	Odyssean Investment Trust	Pair Corr
0.79	PQ9	BANK MANDIRI	Pair Corr
0.85	BYRA	PT Bank Rakyat	Pair Corr
0.87	TWZ	Trican Well Service	Pair Corr
0.78	EMD	ENM Holdings Limited	Pair Corr
0.7	LVN	CP ALL Public	Pair Corr
0.9	TEQ	Telenor ASA	Pair Corr
0.84	LTT	Lattice Semiconductor	Pair Corr
0.74	KIN2	Kinross Gold	Pair Corr
0.73	WFK	World Fuel Services	Pair Corr
0.8	KPN	Koninklijke KPN NV	Pair Corr
0.81	SHF	SNP Schneider Neurei	Pair Corr
0.96	2X0	Corteva	Pair Corr
0.72	RE3	Richardson Electronics	Pair Corr
0.72	KIN2	Kinross Gold	Pair Corr
0.76	4OQ1	AGNC Investment Corp	Pair Corr

Moving against Chevron Stock

0.75	14D	tokentus investment	Pair Corr
0.7	BYRA	BANK RAKYAT IND	Pair Corr
0.45	GE9	Genmab A/S	Pair Corr
0.77	BZG2	PT Bank Central	Pair Corr

Related Correlations Analysis

	TKDA	GE9	CLN	2U4	R7I	5QG	2HZ	14D	GE0	3SR
TKDA		-0.39	0.95	0.54	-0.37	0.26	0.93	-0.78	0.21	0.57	TKDA
GE9	-0.39		-0.34	-0.02	-0.02	0.4	-0.39	0.39	0.24	-0.28	GE9
CLN	0.95	-0.34		0.68	-0.48	0.38	0.91	-0.74	0.39	0.52	CLN
2U4	0.54	-0.02	0.68		-0.61	0.53	0.57	-0.29	0.69	0.26	2U4
R7I	-0.37	-0.02	-0.48	-0.61		-0.49	-0.35	0.27	-0.59	-0.22	R7I
5QG	0.26	0.4	0.38	0.53	-0.49		0.25	-0.17	0.76	0.19	5QG
2HZ	0.93	-0.39	0.91	0.57	-0.35	0.25		-0.7	0.23	0.62	2HZ
14D	-0.78	0.39	-0.74	-0.29	0.27	-0.17	-0.7		-0.05	-0.54	14D
GE0	0.21	0.24	0.39	0.69	-0.59	0.76	0.23	-0.05		0.16	GE0
3SR	0.57	-0.28	0.52	0.26	-0.22	0.19	0.62	-0.54	0.16		3SR
	TKDA	GE9	CLN	2U4	R7I	5QG	2HZ	14D	GE0	3SR

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CLN	+ 0.95	TKDA
2HZ	+ 0.93	TKDA
2HZ	+ 0.91	CLN
GE0	+ 0.76	5QG
GE0	+ 0.69	2U4
2U4	+ 0.68	CLN

High negative correlations

14D	- 0.78	TKDA
14D	- 0.74	CLN
14D	- 0.7	2HZ
R7I	- 0.61	2U4
GE0	- 0.59	R7I
3SR	- 0.54	14D

Risk-Adjusted Indicators

There is a big difference between Chevron Stock performing well and Chevron Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Chevron's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TKDA	1.00	0.40	0.23	(3.06)	0.57	(1.46)	2.78	(1.44)	5.52
GE9	1.64	(0.16)	0.00	(0.13)	0.00	0.00	2.73	(3.42)	9.60
CLN	1.06	0.24	0.08	(4.54)	1.12	(1.18)	2.97	(2.21)	6.15
2U4	1.29	0.17	0.05	0.66	1.43	(1.86)	3.79	(3.10)	13.01
R7I	1.35	(0.16)	0.00	(0.23)	0.00	0.00	3.80	(3.61)	11.13
5QG	4.27	0.63	0.10	(3.14)	4.68	(4.88)	11.93	(7.97)	40.57
2HZ	0.95	0.18	0.06	1.25	0.95	(1.25)	2.21	(1.96)	5.63
14D	2.86	(0.50)	0.00	(0.01)	0.00	0.00	5.21	(6.25)	56.92
GE0	76.86	34.57	1.37	1.55	18.30	(115.28)	35.42	(23.45)	1,837
3SR	21.46	4.81	0.15	(0.72)	18.09	(41.41)	82.61	(38.10)	136.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chevron without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Chevron Corporate Management

Elected by the shareholders, the Chevron's board of directors comprises two types of representatives: Chevron inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Chevron. The board's role is to monitor Chevron's management team and ensure that shareholders' interests are well served. Chevron's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Chevron's outside directors are responsible for providing unbiased perspectives on the board's policies.

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