Chevron Corp Correlations

Stocks . USA . 
Stock . Chevron Corp
CVX Stock  USD 184.16  0.06  0.03%   
The current 90-days correlation between Chevron Corp and BP PLC ADR is 0.68 (i.e., Poor diversification). The correlation of Chevron Corp 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Chevron Corp Correlation With Market

Poor diversification

The correlation between Chevron Corp and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chevron Corp and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Chevron Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.
For more information on how to buy Chevron Stock please use our How to Invest in Chevron Corp guide.

Moving together with Chevron Stock

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Moving against Chevron Stock

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Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Chevron Stock performing well and Chevron Corp 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 Corp'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.

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