BetterThanSPY

Relative Intelligence · Exploration & Production

How Occidental Petroleum (OXY) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on OXY alone. It places OXY (Occidental Petroleum Corporation) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where OXY stands in the market, and of the alternatives worth a closer look.

Period covered: OXY's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 22, 2026.

Data as of October 22, 2026. Full tables and charts read best on a larger screen.

Rank the market against OXY →Chart OXY vs. 20 alternatives →

This page answers the following questions about OXY

Key findings

Not AI-generated

These key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.

How much would $10,000 in OXY have grown?

This chart tracks a hypothetical $10,000 investment in OXY over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of OXY over the same span and OXY's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 526 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of OXY; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$20,000$50,000$100,000$200,000199720022007201220172022$10,000$100,00019972004201120182025
  • EOG$380,118+3,701% total · +13.4% a year
  • SU$282,795+2,728% total · +12.2% a year
  • COP$156,444+1,464% total · +9.9% a year
  • CVX$142,109+1,321% total · +9.6% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • XOM$124,235+1,142% total · +9.1% a year
  • OXY$102,456+925% total · +8.4% a year
  • SM$79,670+697% total · +7.4% a year
  • DVN$35,882+259% total · +4.5% a year
  • APA$33,796+238% total · +4.3% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 776 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of OXY; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000202120222023202420252026$0$10,000$20,000$30,000$40,000$50,000202120222023202420252026
  • PR$36,604+266% total · +29.6% a year
  • CNQ$33,008+230% total · +27.0% a year
  • XOM$32,965+230% total · +26.9% a year
  • CVX$24,595+146% total · +19.7% a year
  • APA$22,548+125% total · +17.7% a year
  • COP$22,182+122% total · +17.3% a year
  • EOG$21,734+117% total · +16.8% a year
  • OXY$20,110+101% total · +15.0% a year
  • OVV$19,897+99.0% total · +14.8% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
Change the dates or add tickers to this chart in EasyCompare

OXY at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$62B
Industry
Oil & Gas Exploration & Production
Price history from
October 1986

Returns

Past 1 year
+52.7%total return
Past 3 years
+5.1%+1.7% a year
Past 5 years
+98.0%+14.6% a year
Past 10 years
+9.4%+0.9% a year
Best calendar year
+119%2022
Worst calendar year
−56.6%2020
Losing years
12 of 29full calendar years

Risk

Volatility
37.8%typical yearly swing, 5 years
Sharpe ratio
0.55return per unit of risk, 5 years
Worst decline ever
−88.4%May 2011 to Oct 2020
From its all-time high
−12.2%below the peak

OXY against the whole market

Where OXY ranks among every stock and fund, and what across the market has done better.

How does OXY rank among all stocks?

This section ranks OXY on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how OXY stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureOXYRankStanding
1-year return+52.7%517 of 3,282top 16%
3-year return+5.1%2,273 of 3,016bottom 26%
5-year return+98.0%703 of 2,897top 24%
10-year return+9.4%1,776 of 2,201bottom 20%
Volatility, 5 years37.8%1,322 of 2,897top 46%
Sharpe ratio, 5 years0.55801 of 2,897top 28%
Worst decline, past 10 years−88.4%1,890 of 2,184bottom 14%

What has beaten OXY on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). OXY sits where the dashed lines cross. Anything in the green box above and to the left earned more than OXY with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to OXY; faint dots are 86 more of the 303 in the green region (the strongest, one per fund family). 3,641 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%15.0%20.0%25.0%30.0%35.0%40.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than OXYCTAS: +17.1% a year, volatility 23.1%KOF: +22.4% a year, volatility 24.7%RGA: +20.5% a year, volatility 27.3%NHC: +31.2% a year, volatility 28.6%ABBV: +25.5% a year, volatility 23.4%HRB: +19.2% a year, volatility 35.0%MCK: +37.8% a year, volatility 25.1%AMGN: +20.1% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%TD: +16.5% a year, volatility 20.0%SMFG: +34.0% a year, volatility 29.4%VRTX: +23.9% a year, volatility 29.1%BWFG: +20.3% a year, volatility 28.5%FAST: +16.2% a year, volatility 24.6%NTAP: +20.6% a year, volatility 35.3%CIB: +33.5% a year, volatility 32.9%RS: +24.8% a year, volatility 28.1%FFIV: +16.7% a year, volatility 30.8%PKG: +16.6% a year, volatility 25.9%SNX: +20.2% a year, volatility 30.4%MOG-A: +35.1% a year, volatility 32.1%EXEL: +25.0% a year, volatility 35.8%RNR: +20.6% a year, volatility 27.9%E: +23.7% a year, volatility 25.6%EHC: +18.7% a year, volatility 26.9%CACI: +16.8% a year, volatility 30.0%PSO: +18.7% a year, volatility 27.9%RTX: +18.7% a year, volatility 24.4%EQNR: +20.1% a year, volatility 34.4%AMG: +19.0% a year, volatility 31.9%MSGS: +17.5% a year, volatility 25.7%NEU: +20.9% a year, volatility 26.8%XLE: +22.7% a year, volatility 25.5%VCTR: +27.7% a year, volatility 35.0%ACA: +23.4% a year, volatility 34.0%AVT: +21.5% a year, volatility 30.8%GLD: +17.1% a year, volatility 19.0%CB: +15.8% a year, volatility 20.4%TRV: +22.4% a year, volatility 22.3%VIRT: +20.4% a year, volatility 33.8%AAMI: +28.3% a year, volatility 35.6%AFL: +19.5% a year, volatility 20.8%DCO: +27.2% a year, volatility 34.6%RY: +17.5% a year, volatility 18.2%ETR: +19.8% a year, volatility 22.4%ALL: +17.9% a year, volatility 26.2%WELL: +27.0% a year, volatility 23.8%CNXN: +16.6% a year, volatility 29.2%AMAL: +25.4% a year, volatility 33.4%CBOE: +22.0% a year, volatility 25.1%CASY: +30.8% a year, volatility 29.4%ACGL: +20.1% a year, volatility 24.5%HEI: +16.5% a year, volatility 27.8%AAPL: +19.1% a year, volatility 28.0%ATO: +15.9% a year, volatility 18.5%HWM: +45.1% a year, volatility 32.7%HBT: +19.4% a year, volatility 28.7%DMLP: +21.2% a year, volatility 29.1%CRAK: +19.5% a year, volatility 20.9%WRB: +18.6% a year, volatility 22.9%SFL: +18.5% a year, volatility 30.4%IEO: +21.2% a year, volatility 29.9%GOOG: +18.5% a year, volatility 32.0%FBIZ: +23.2% a year, volatility 29.4%TRGP: +41.8% a year, volatility 31.7%BSVN: +22.9% a year, volatility 33.5%MUSA: +25.3% a year, volatility 31.2%ORI: +17.3% a year, volatility 22.2%WMT: +21.1% a year, volatility 22.6%PPA: +16.2% a year, volatility 18.9%AXS: +17.9% a year, volatility 25.3%JPM: +17.3% a year, volatility 24.3%HSBC: +32.8% a year, volatility 25.9%GE: +36.0% a year, volatility 31.0%DXJ: +26.6% a year, volatility 19.1%LVHI: +16.9% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%CAT: +30.7% a year, volatility 32.0%MPLX: +24.0% a year, volatility 18.8%MUFG: +33.5% a year, volatility 29.4%PM: +21.3% a year, volatility 23.4%CSCO: +16.9% a year, volatility 26.1%NVS: +17.4% a year, volatility 20.7%SAN: +31.7% a year, volatility 33.9%APH: +31.3% a year, volatility 32.4%BBVA: +39.0% a year, volatility 33.3%OXY: +14.6% a year, volatility 37.8%SPY (S&P 500): +12.5% a year, volatility 17.2%XOM: +27.5% a year, volatility 26.5%CVX: +19.7% a year, volatility 25.2%CNQ: +26.4% a year, volatility 32.5%COP: +18.2% a year, volatility 32.6%EOG: +16.9% a year, volatility 32.3%WES: +24.4% a year, volatility 27.6%MPC: +50.0% a year, volatility 33.4%SHEL: +21.4% a year, volatility 24.8%PSX: +32.7% a year, volatility 32.9%SU: +33.1% a year, volatility 32.5%PBR-A: +53.5% a year, volatility 37.4%PBA: +13.8% a year, volatility 21.6%CAH: +41.7% a year, volatility 24.7%LLY: +41.2% a year, volatility 32.8%MRK: +16.1% a year, volatility 24.8%PGR: +21.8% a year, volatility 25.7%KO: +15.2% a year, volatility 16.8%EWT: +19.8% a year, volatility 24.3%VLUE: +16.2% a year, volatility 18.4%NUE: +22.1% a year, volatility 37.4%OXYSPY (S&P 500)XOMCVXCNQCOPEOGWESMPCSHELPSXSUPBR-APBACAHLLYMRKPGRKOVLUENUE10.0%20.0%30.0%40.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than OXYCTAS: +17.1% a year, volatility 23.1%KOF: +22.4% a year, volatility 24.7%RGA: +20.5% a year, volatility 27.3%NHC: +31.2% a year, volatility 28.6%ABBV: +25.5% a year, volatility 23.4%HRB: +19.2% a year, volatility 35.0%MCK: +37.8% a year, volatility 25.1%AMGN: +20.1% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%TD: +16.5% a year, volatility 20.0%SMFG: +34.0% a year, volatility 29.4%VRTX: +23.9% a year, volatility 29.1%BWFG: +20.3% a year, volatility 28.5%FAST: +16.2% a year, volatility 24.6%NTAP: +20.6% a year, volatility 35.3%CIB: +33.5% a year, volatility 32.9%RS: +24.8% a year, volatility 28.1%FFIV: +16.7% a year, volatility 30.8%PKG: +16.6% a year, volatility 25.9%SNX: +20.2% a year, volatility 30.4%MOG-A: +35.1% a year, volatility 32.1%EXEL: +25.0% a year, volatility 35.8%RNR: +20.6% a year, volatility 27.9%E: +23.7% a year, volatility 25.6%EHC: +18.7% a year, volatility 26.9%CACI: +16.8% a year, volatility 30.0%PSO: +18.7% a year, volatility 27.9%RTX: +18.7% a year, volatility 24.4%EQNR: +20.1% a year, volatility 34.4%AMG: +19.0% a year, volatility 31.9%MSGS: +17.5% a year, volatility 25.7%NEU: +20.9% a year, volatility 26.8%XLE: +22.7% a year, volatility 25.5%VCTR: +27.7% a year, volatility 35.0%ACA: +23.4% a year, volatility 34.0%AVT: +21.5% a year, volatility 30.8%GLD: +17.1% a year, volatility 19.0%CB: +15.8% a year, volatility 20.4%TRV: +22.4% a year, volatility 22.3%VIRT: +20.4% a year, volatility 33.8%AAMI: +28.3% a year, volatility 35.6%AFL: +19.5% a year, volatility 20.8%DCO: +27.2% a year, volatility 34.6%RY: +17.5% a year, volatility 18.2%ETR: +19.8% a year, volatility 22.4%ALL: +17.9% a year, volatility 26.2%WELL: +27.0% a year, volatility 23.8%CNXN: +16.6% a year, volatility 29.2%AMAL: +25.4% a year, volatility 33.4%CBOE: +22.0% a year, volatility 25.1%CASY: +30.8% a year, volatility 29.4%ACGL: +20.1% a year, volatility 24.5%HEI: +16.5% a year, volatility 27.8%AAPL: +19.1% a year, volatility 28.0%ATO: +15.9% a year, volatility 18.5%HWM: +45.1% a year, volatility 32.7%HBT: +19.4% a year, volatility 28.7%DMLP: +21.2% a year, volatility 29.1%CRAK: +19.5% a year, volatility 20.9%WRB: +18.6% a year, volatility 22.9%SFL: +18.5% a year, volatility 30.4%IEO: +21.2% a year, volatility 29.9%GOOG: +18.5% a year, volatility 32.0%FBIZ: +23.2% a year, volatility 29.4%TRGP: +41.8% a year, volatility 31.7%BSVN: +22.9% a year, volatility 33.5%MUSA: +25.3% a year, volatility 31.2%ORI: +17.3% a year, volatility 22.2%WMT: +21.1% a year, volatility 22.6%PPA: +16.2% a year, volatility 18.9%AXS: +17.9% a year, volatility 25.3%JPM: +17.3% a year, volatility 24.3%HSBC: +32.8% a year, volatility 25.9%GE: +36.0% a year, volatility 31.0%DXJ: +26.6% a year, volatility 19.1%LVHI: +16.9% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%CAT: +30.7% a year, volatility 32.0%MPLX: +24.0% a year, volatility 18.8%MUFG: +33.5% a year, volatility 29.4%PM: +21.3% a year, volatility 23.4%CSCO: +16.9% a year, volatility 26.1%NVS: +17.4% a year, volatility 20.7%SAN: +31.7% a year, volatility 33.9%APH: +31.3% a year, volatility 32.4%BBVA: +39.0% a year, volatility 33.3%OXY: +14.6% a year, volatility 37.8%SPY (S&P 500): +12.5% a year, volatility 17.2%XOM: +27.5% a year, volatility 26.5%CVX: +19.7% a year, volatility 25.2%CNQ: +26.4% a year, volatility 32.5%COP: +18.2% a year, volatility 32.6%EOG: +16.9% a year, volatility 32.3%WES: +24.4% a year, volatility 27.6%MPC: +50.0% a year, volatility 33.4%SHEL: +21.4% a year, volatility 24.8%PSX: +32.7% a year, volatility 32.9%SU: +33.1% a year, volatility 32.5%PBR-A: +53.5% a year, volatility 37.4%PBA: +13.8% a year, volatility 21.6%CAH: +41.7% a year, volatility 24.7%LLY: +41.2% a year, volatility 32.8%MRK: +16.1% a year, volatility 24.8%PGR: +21.8% a year, volatility 25.7%KO: +15.2% a year, volatility 16.8%EWT: +19.8% a year, volatility 24.3%VLUE: +16.2% a year, volatility 18.4%NUE: +22.1% a year, volatility 37.4%OXYSPY (S&P 500)XOMCVXCNQCOPEOGWESMPCSHELPSXSUPBR-ACAHLLYMRKKOVLUENUE
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than OXY?

Investments that beat OXY over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat OXY over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks OXY's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than OXY follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than OXY's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× OXY's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than OXY's.

Screen the whole market against OXY for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with OXY?lower diversifies moreExpenseper year
OXYOccidental Petroleum Corporation · this page
+14.6%37.8%0.55−88.4%+9.4%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+316%0.100.09%
Popular alternativesbest 6 shownThe investments people most often weigh against OXY. 10 of 20 passed at least one test.
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+27.5%26.5%1.05−61.0%+216%0.77—
CVXChevron Corporation · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.7%25.2%0.84−55.8%+243%0.79—
CNQCanadian Natural Resources Limited · Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.4%32.5%0.89−77.5%+431%0.77—
COPConocoPhillips · Exploration & Production
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.2%32.6%0.68−70.7%+369%0.85—
EOGEOG Resources, Inc. · Exploration & Production
Higher return, lower volatilityHigher return in most periods+16.9%32.3%0.65−77.1%+134%0.80—
WESWestern Midstream Partners, LP · Oil & Gas Midstream
Higher return, lower volatility+24.4%27.6%0.93−91.9%+122%0.50—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Exploration & Production and Oil & Gas and the categories next to it (Oilfield Services, Oil & Gas Midstream, Natural Gas Producers, Energy Equity, Marine Shipping), plus OXY's specific themes. 93 of 172 passed at least one test.
MPCMarathon Petroleum Corporation · Oil Refining
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+50.0%33.4%1.39−79.7%+1,314%0.66—
SHELShell plc · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+21.4%24.8%0.91−67.2%+236%0.71—
PSXPhillips 66 · Oil Refining
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+32.7%32.9%1.03−64.2%+413%0.67—
SUSuncor Energy Inc. · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.1%32.5%1.05−73.5%+289%0.69—
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
On the frontierHigher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+53.5%37.4%1.34−71.7%+733%0.55—
PBAPembina Pipeline Corporation · Oil & Gas Midstream
Similar return, lower volatilityHigher Sharpe, smaller worst decline+13.8%21.6%0.71−70.9%+173%0.58—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,019 of 3,470 passed at least one test.
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+41.7%24.7%1.54−46.1%+345%-0.03—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+41.2%32.8%1.22−34.5%+1,870%-0.13—
MRKMerck & Co., Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+16.1%24.8%0.73−43.4%+245%0.27—
PGRThe Progressive Corporation · Property & Casualty Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.8%25.7%0.90−30.3%+849%0.15—
KOThe Coca-Cola Company · Nonalcoholic Beverages
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+15.2%16.8%0.93−37.0%+205%0.17—
EWTiShares MSCI Taiwan ETF · International Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.8%24.3%0.87−38.9%+448%-0.090.59%
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+16.2%18.4%0.91−39.5%+286%0.120.15%
NUENucor Corporation · Steel
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+22.1%37.4%0.72−57.2%+569%0.22—
What these numbers mean for OXY
Annual return
OXY returned 14.6% a year over the past 5 years with dividends reinvested, against 12.5% a year for the S&P 500. At that pace, $10,000 became about $19,800. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
OXY's volatility over the past 5 years was 37.8%, 2.2 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, OXY's return lands within 37.8% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
OXY's Sharpe ratio over the past 5 years was 0.55, against 0.78 for the S&P 500, so OXY earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
OXY's worst fall from a peak to a low over the past 10 years was 88.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 88.4% fall takes a 762% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, OXY's monthly returns had a correlation of 0.10 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against OXY instead: the lower it is, the more that option would diversify a OXY holding. Guide: Correlation and diversification →
Show all 303 stocks and funds worth at least $500 million that earned more than OXY with less volatility

Out of 3,641 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with OXYExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+41.7%24.7%1.54−46.1%+345%-0.03—
2
LLYEli Lilly and Company · Pharmaceuticals
Whole market+41.2%32.8%1.22−34.5%+1,870%-0.13—
3
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.1%24.8%0.73−43.4%+245%0.27—
4
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.8%25.7%0.90−30.3%+849%0.15—
5
CTASCintas Corporation · Business Services
Whole market+17.1%23.1%0.80−48.4%+834%0.14—
6
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.4%24.7%0.95−55.1%+119%0.12—
7
RGAReinsurance Group of America, Incorporated · Insurance
Whole market+20.5%27.3%0.82−65.8%+206%0.30—
8
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Popular alternative+27.5%26.5%1.05−61.0%+216%0.77—
9
NHCNational HealthCare Corporation · Health Care Facilities
Whole market+31.2%28.6%1.10−35.3%+385%0.04—
10
ABBVAbbVie Inc. · Specialty Pharmaceuticals
Whole market+25.5%23.4%1.09−45.1%+600%0.11—
11
MPCMarathon Petroleum Corporation · Oil Refining
Same or nearby category+50.0%33.4%1.39−79.7%+1,314%0.66—
12
HRBH&R Block, Inc. · Tax Preparation
Whole market+19.2%35.0%0.67−57.7%+214%0.16—
13
MCKMcKesson Corporation · Health Care Distribution
Whole market+37.8%25.1%1.41−38.1%+582%0.29—
14
AMGNAmgen Inc. · Biotechnology
Whole market+20.1%24.9%0.86−24.9%+280%0.27—
15
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+202%0.09—
16
TDThe Toronto-Dominion Bank · Banks
Whole market+16.5%20.0%0.87−42.0%+319%0.08—
17
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+34.0%29.4%1.15−47.6%+470%-0.02—
18
VRTXVertex Pharmaceuticals Incorporated · Rare Disease Therapeutics
Whole market+23.9%29.1%0.89−41.6%+580%-0.01—
19
BWFGBankwell Financial Group, Inc. · Regional Banks
Whole market+20.3%28.5%0.79−64.7%+241%0.07—
20
FASTFastenal Company · Industrial Distribution
Whole market+16.2%24.6%0.74−30.7%+582%0.14—
21
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.6%35.3%0.71−58.1%+696%0.05—
22
CIBGrupo Cibest S.A. · Banks
Whole market+33.5%32.9%1.04−70.4%+351%0.36—
23
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.94−40.8%+639%0.12—
24
SHELShell plc · Integrated Oil & Gas
Same or nearby category+21.4%24.8%0.91−67.2%+236%0.71—
25
FFIVF5, Inc. · Cybersecurity
Whole market+16.7%30.8%0.66−54.6%+279%-0.09—
26
PKGPackaging Corporation of America · Packaging
Whole market+16.6%25.9%0.72−38.2%+302%0.30—
27
SNXTD Synnex Corp · Technology Distribution
Whole market+20.2%30.4%0.76−55.8%+427%0.03—
28
MOG-AMoog Inc. · Aerospace Components
Whole market+35.1%32.1%1.10−63.7%+540%0.01—
29
EXELExelixis, Inc. · Oncology
Whole market+25.0%35.8%0.81−57.2%+478%-0.01—
30
PSXPhillips 66 · Oil Refining
Same or nearby category+32.7%32.9%1.03−64.2%+413%0.67—
31
RNRRenaissanceRe Holdings Ltd. · Insurance
Whole market+20.6%27.9%0.81−40.7%+222%-0.12—
32
SUSuncor Energy Inc. · Integrated Oil & Gas
Same or nearby category+33.1%32.5%1.05−73.5%+289%0.69—
33
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+19.8%24.3%0.87−38.9%+448%-0.090.59%
34
EEni S.p.A. · Integrated Oil & Gas
Same or nearby category+23.7%25.6%0.96−61.4%+283%0.62—
35
EHCEncompass Health Corporation · Health Care Facilities
Whole market+18.7%26.9%0.77−39.5%+354%0.11—
36
CACICACI International Inc · Business Services
Whole market+16.8%30.0%0.67−42.9%+512%0.11—
37
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+16.2%18.4%0.91−39.5%+286%0.120.15%
38
PSOPearson plc · Education Services
Whole market+18.7%27.9%0.76−58.4%+159%0.18—
39
RTXRTX Corporation · Aerospace & Defense
Whole market+18.7%24.4%0.83−52.0%+319%0.15—
40
CVXChevron Corporation · Integrated Oil & Gas
Popular alternative+19.7%25.2%0.84−55.8%+243%0.79—
41
EQNREquinor ASA · Integrated Oil & Gas
Same or nearby category+20.1%34.4%0.71−66.8%+422%0.67—
42
AMGAffiliated Managers Group, Inc. · Asset Management
Whole market+19.0%31.9%0.71−78.5%+186%0.04—
43
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+17.5%25.7%0.76−41.6%+395%0.18—
44
NEUNewMarket Corporation · Specialty Chemicals
Whole market+20.9%26.8%0.85−40.7%+162%0.03—
45
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Same or nearby category+22.7%25.5%0.94−66.8%+190%0.850.08%
46
VCTRVictory Capital Holdings, Inc. · Asset Management
Whole market+27.7%35.0%0.88−45.2%—0.13—
47
ACAArcosa, Inc. · Construction Materials
Whole market+23.4%34.0%0.79−36.8%—0.04—
48
AVTAvnet, Inc. · Technology Distribution
Whole market+21.5%30.8%0.79−58.4%+161%0.15—
49
GLDSPDR Gold Shares · Gold
Whole market+17.1%19.0%0.93−26.4%+206%0.010.40%
50
CNQCanadian Natural Resources Limited · Oil & Gas
Popular alternative+26.4%32.5%0.89−77.5%+431%0.77—
51
CBChubb Limited · Property & Casualty Insurance
Whole market+15.8%20.4%0.82−42.6%+256%0.30—
52
COPConocoPhillips · Exploration & Production
Popular alternative+18.2%32.6%0.68−70.7%+369%0.85—
53
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+360%0.29—
54
VIRTVirtu Financial, Inc. · Capital Markets
Whole market+20.4%33.8%0.72−56.2%+520%0.14—
55
AAMIAcadian Asset Management · Asset Management
Whole market+28.3%35.6%0.88−78.1%+628%0.17—
56
AFLAflac Incorporated · Life Insurance
Whole market+19.5%20.8%0.97−54.9%+344%0.27—
57
DCODucommun Incorporated · Aerospace Components
Whole market+27.2%34.6%0.87−70.8%+688%0.09—
58
RYRoyal Bank of Canada · Banks
Whole market+17.5%18.2%0.98−40.0%+361%0.03—
59
ETREntergy Corporation · Electric Utilities
Whole market+19.8%22.4%0.92−42.0%+326%0.20—
60
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.9%26.2%0.76−41.4%+377%0.19—
61
WELLWelltower Inc. · Healthcare REITs
Whole market+27.0%23.8%1.13−63.3%+378%0.08—
62
CNXNPC Connection, Inc. · Technology Distribution
Whole market+16.6%29.2%0.67−41.8%+286%0.15—
63
AMALAmalgamated Financial Corp. · Regional Banks
Whole market+25.4%33.4%0.85−62.9%—0.21—
64
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+22.0%25.1%0.92−43.2%+481%0.14—
65
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+30.8%29.4%1.06−36.1%+560%0.32—
66
ACGLArch Capital Group Ltd. · Property & Casualty Insurance
Whole market+20.1%24.5%0.87−53.8%+316%0.21—
67
HEIHEICO Corporation · Aerospace Components
Whole market+16.5%27.8%0.69−57.7%+788%0.11—
68
AAPLApple Inc. · Computer Hardware
Whole market+19.1%28.0%0.77−38.5%+1,194%0.10—
69
ATOAtmos Energy Corporation · Gas Utilities
Whole market+15.9%18.5%0.90−32.9%+207%0.26—
70
HWMHowmet Aerospace Inc. · Aerospace Components
Whole market+45.1%32.7%1.31−68.9%+928%0.06—
71
HBTHBT Financial, Inc. · Regional Banks
Whole market+19.4%28.7%0.76−54.0%—0.03—
72
DMLPDorchester Minerals, L.P. · Mineral Royalties
Same or nearby category+21.2%29.1%0.81−56.8%+459%0.62—
73
CRAKVanEck Oil Refiners ETF · Oil Refining
Same or nearby category+19.5%20.9%0.96−58.8%+325%0.620.61%
74
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.6%22.9%0.86−45.3%+466%0.20—
75
SFLSFL Corporation Ltd · Marine Shipping
Same or nearby category+18.5%30.4%0.72−55.3%+136%0.41—
76
IEOiShares U.S. Oil & Gas Exploration & Production ETF · Exploration & Production
Same or nearby category+21.2%29.9%0.80−75.0%+216%0.870.37%
77
GOOGAlphabet Inc. · Internet Services
Whole market+18.5%32.0%0.69−44.6%+696%-0.02—
78
FBIZFirst Business Financial Services, Inc. · Regional Banks
Whole market+23.2%29.4%0.86−50.2%+315%0.17—
79
TRGPTarga Resources Corp. · Oil & Gas Midstream
Same or nearby category+41.8%31.7%1.27−90.8%+829%0.53—
80
BSVNBank7 Corp. · Regional Banks
Whole market+22.9%33.5%0.79−69.6%—0.15—
81
MUSAMurphy USA Inc. · Convenience Stores
Whole market+25.3%31.2%0.88−35.5%+688%0.22—
82
ORIOld Republic International Corporation · Property & Casualty Insurance
Whole market+17.3%22.2%0.83−47.8%+353%0.28—
83
WMTWalmart Inc. · Discount Retail
Whole market+21.1%22.6%0.97−25.7%+521%0.01—
84
PPAInvesco Aerospace & Defense ETF · Aerospace & Defense
Whole market+16.2%18.9%0.89−43.9%+341%0.140.58%
85
AXSAXIS Capital Holdings Limited · Property & Casualty Insurance
Whole market+17.9%25.3%0.78−49.3%+149%0.15—
86
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+534%0.14—
87
HSBCHSBC Holdings plc · Banks
Whole market+32.8%25.9%1.23−62.3%+314%0.25—
88
GEGE Aerospace · Aerospace & Defense
Whole market+36.0%31.0%1.15−80.9%+135%0.10—
89
DXJWisdomTree Japan Hedged Equity Fund · Japan Equity
Whole market+26.6%19.1%1.34−39.1%+415%0.150.48%
90
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
Whole market+16.9%11.1%1.48−32.4%+194%0.340.40%
91
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+692%0.07—
92
CATCaterpillar Inc. · Industrial Machinery
Whole market+30.7%32.0%1.00−43.4%+913%0.12—
93
MPLXMPLX Lp · Oil & Gas Midstream
Same or nearby category+24.0%18.8%1.25−75.2%+337%0.44—
94
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.5%29.4%1.14−54.9%+485%0.13—
95
PMPhilip Morris International Inc. · Tobacco
Whole market+21.3%23.4%0.94−42.9%+240%0.11—
96
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.9%26.1%0.73−42.0%+361%-0.06—
97
NVSNovartis AG · Pharmaceuticals
Whole market+17.4%20.7%0.89−26.8%+234%0.18—
98
SANBanco Santander, S.A. · Banks
Whole market+31.7%33.9%0.99−73.8%+307%0.12—
99
APHAmphenol Corporation · Electronic Components
Whole market+31.3%32.4%1.01−37.5%+887%-0.20—
100
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+39.0%33.3%1.16−69.6%+515%0.11—

OXY against its popular alternatives

The investments people most often weigh against OXY, compared period by period and year by year.

How do OXY's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at OXY, which divides the map into what did better or worse on each measure.

Green points earned more than OXY with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%55.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityOXY: 14.6% a year, volatility 37.8%SPY (S&P 500): 12.5% a year, volatility 17.2%CNQ: 26.5% a year, volatility 32.5%COP: 18.2% a year, volatility 32.6%XOM: 27.5% a year, volatility 26.5%EOG: 16.9% a year, volatility 32.3%CVX: 19.7% a year, volatility 25.2%WES: 24.4% a year, volatility 27.6%FANG: 17.4% a year, volatility 36.6%DVN: 9.0% a year, volatility 39.9%CRC: 6.7% a year, volatility 39.1%SM: 6.7% a year, volatility 52.8%MUR: 11.8% a year, volatility 45.0%NOG: 7.0% a year, volatility 48.2%MTDR: 7.1% a year, volatility 46.3%MGY: 6.1% a year, volatility 38.8%HAL: 7.1% a year, volatility 39.4%PR: 31.5% a year, volatility 47.0%OVV: 14.9% a year, volatility 44.8%APA: 15.8% a year, volatility 47.6%CHRD: 16.1% a year, volatility 39.1%SLB: 10.3% a year, volatility 37.5%OXYSPY (S&P 500)CNQCOPXOMEOGCVXWESFANGDVNCRCSMMURNOGMTDRMGYHALPROVVAPACHRDSLB10.0%20.0%30.0%40.0%50.0%60.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityOXY: 14.6% a year, volatility 37.8%SPY (S&P 500): 12.5% a year, volatility 17.2%CNQ: 26.5% a year, volatility 32.5%COP: 18.2% a year, volatility 32.6%XOM: 27.5% a year, volatility 26.5%EOG: 16.9% a year, volatility 32.3%CVX: 19.7% a year, volatility 25.2%WES: 24.4% a year, volatility 27.6%FANG: 17.4% a year, volatility 36.6%DVN: 9.0% a year, volatility 39.9%CRC: 6.7% a year, volatility 39.1%SM: 6.7% a year, volatility 52.8%MUR: 11.8% a year, volatility 45.0%NOG: 7.0% a year, volatility 48.2%MTDR: 7.1% a year, volatility 46.3%MGY: 6.1% a year, volatility 38.8%HAL: 7.1% a year, volatility 39.4%PR: 31.5% a year, volatility 47.0%OVV: 14.9% a year, volatility 44.8%APA: 15.8% a year, volatility 47.6%CHRD: 16.1% a year, volatility 39.1%SLB: 10.3% a year, volatility 37.5%OXYSPY (S&P 500)CNQCOPXOMEOGCVXWESFANGDVNCRCSMMURNOGMGYPROVVCHRDSLB
All figures
InvestmentAnnual returnVolatility
PR Permian Resources Corporation+31.5%47.0%
XOM Exxonmobil Holdings Corporation+27.5%26.5%
CNQ Canadian Natural Resources Limited+26.5%32.5%
WES Western Midstream Partners, LP+24.4%27.6%
CVX Chevron Corporation+19.7%25.2%
COP ConocoPhillips+18.2%32.6%
FANG Diamondback Energy, Inc.+17.4%36.6%
EOG EOG Resources, Inc.+16.9%32.3%
CHRD Chord Energy Corporation+16.1%39.1%
APA APA Corporation+15.8%47.6%
OVV Ovintiv Inc.+14.9%44.8%
OXY This pageOccidental Petroleum Corporation+14.6%37.8%
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
MUR Murphy Oil Corporation+11.8%45.0%
SLB Slb N.V.+10.3%37.5%
DVN Devon Energy Corporation+9.0%39.9%
HAL Halliburton Company+7.1%39.4%
MTDR Matador Resources Company+7.1%46.3%
NOG Northern Oil and Gas, Inc.+7.0%48.2%
CRC California Resources Corp+6.7%39.1%
SM SM Energy Company+6.7%52.8%
MGY Magnolia Oil & Gas Corporation+6.1%38.8%
Open these 22 in EasyCompare

Has OXY consistently beaten its popular alternatives?

This section compares OXY with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than OXY helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than OXY over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
OXY Occidental Petroleum Corporation (this page)—+11.0%+9.2%+10.6%+49.6%+52.7%+5.1%+98.0%+9.4%37.8%0.55−88.4%—$62B—
CNQ QualifiedCanadian Natural Resources Limited5/5 short3/3 longAll-weather+12.9%+18.8%+23.1%+61.7%+85.2%+91.7%+223%+431%32.5%0.89−77.5%—$111B—
COP QualifiedConocoPhillips5/5 short3/3 longAll-weather+16.3%+23.4%+20.5%+53.9%+71.9%+31.1%+131%+369%32.6%0.68−70.7%—$175B—
PR QualifiedPermian Resources Corporation5/5 short3/3 longAll-weather+14.6%+14.8%+21.9%+73.4%+102%+85.8%+294%+95.0%47.0%0.82−98.9%—$20B—
XOM QualifiedExxonmobil Holdings Corporation4/5 short3/3 longAll-weather+12.3%+16.1%+20.8%+48.2%+59.8%+79.7%+236%+216%26.5%1.05−61.0%—$733B—
EOG QualifiedEOG Resources, Inc.4/5 short3/3 longAll-weather+14.0%+10.4%+20.4%+51.9%+53.5%+33.5%+118%+134%32.3%0.65−77.1%—$83B—
CVX QualifiedChevron Corporation3/5 short3/3 long+12.0%+18.5%+23.8%+49.4%+51.4%+59.9%+146%+243%25.2%0.84−55.8%—$448B—
OVV QualifiedOvintiv Inc.5/5 short2/3 long+17.8%+15.1%+25.4%+73.8%+93.9%+52.8%+101%+60.9%44.8%0.54−96.8%—$19B—
APA QualifiedAPA Corporation5/5 short2/3 long+17.5%+37.3%+31.5%+101%+122%+34.5%+108%+3.6%47.6%0.55−93.5%—$17B—
WES Oil & Gas MidstreamWestern Midstream Partners, LP1/5 short3/3 long−3.5%−3.6%+13.2%+19.3%+26.5%+111%+198%+122%27.6%0.93−91.9%—$18B—
FANG Oil & Gas Exploration & ProductionDiamondback Energy, Inc.0/5 short3/3 long+6.9%−2.4%+2.8%+31.6%+41.9%+33.1%+123%+160%36.6%0.62−88.7%—$55B—
DVN Oil & Gas Exploration & ProductionDevon Energy Corporation2/5 short2/3 long+4.8%+10.3%+5.8%+32.3%+55.6%+13.7%+54.1%+70.5%39.9%0.42−88.5%—$54B—
CRC Oil & Gas Exploration & ProductionCalifornia Resources Corp0/5 short2/3 long+1.8%−0.9%−16.9%+16.6%+16.1%+8.1%+38.3%+402%39.1%0.36−98.1%—$4.7B—
SM Oil & Gas Exploration & ProductionSM Energy Company5/5 short1/3 long+13.3%+16.4%+33.9%+105%+93.3%−0.5%+38.1%+139%52.8%0.39−94.7%—$9.1B—
MUR Oil & Gas Exploration & ProductionMurphy Oil Corporation4/5 short1/3 long+19.8%+10.4%+11.4%+34.3%+61.1%+3.4%+75.1%+105%45.0%0.48−86.1%—$6.1B—
CHRD Oil & Gas Exploration & ProductionChord Energy Corporation4/5 short1/3 long+10.7%+10.5%+13.6%+63.5%+76.0%+4.7%+111%—39.1%0.58−53.9%—$8.2B—
NOG Oil & Gas Exploration & ProductionNorthern Oil and Gas, Inc.2/5 short1/3 long+21.9%+26.1%+7.7%+31.2%+37.7%−16.2%+40.0%+37.5%48.2%0.38−92.2%—$2.9B—
MTDR Oil & Gas Exploration & ProductionMatador Resources Company0/5 short1/3 long+9.5%+4.1%−4.6%+33.9%+47.7%−4.6%+41.2%+157%46.3%0.38−96.5%—$7.0B—
MGY Oil & Gas Exploration & ProductionMagnolia Oil & Gas Corporation0/5 short1/3 long+5.2%−0.6%−12.6%+14.6%+13.7%+20.3%+34.2%—38.8%0.35−77.8%—$6.8B—
HAL Oil & Gas Equipment & ServicesHalliburton Company0/5 short0/3 long+1.0%+0.9%−14.4%+13.7%+28.7%−14.7%+41.2%−17.2%39.4%0.37−91.5%—$28B—
SLB Oil & Gas Equipment & ServicesSlb N.V.0/5 short0/3 long−4.9%+4.5%−7.9%+25.3%+45.5%−9.0%+63.2%−19.4%37.5%0.45−84.5%—$74B—
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How did OXY do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where OXY ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with OXY and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of OXY; gray means the two finished within a fraction of a point. The rank row places OXY among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of OXY20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
OXY This pageOccidental Petroleum Corporation—−14.9%−15.9%−4.1%+119%+67.7%−56.6%−28.3%−13.1%+8.5%+9.8%−12.7%−8.9%+27.8%−16.1%−2.6%+22.7%+38.4%−20.7%+60.2%+24.2%+39.2%+41.3%+53.1%+11.0%+13.4%+17.7%+35.7%−39.8%+30.3%
Rank among alternativesTop quarter in 6 of 2917 of 2115 of 2114 of 211 of 2117 of 2117 of 1918 of 206 of 207 of 1916 of 184 of 1811 of 179 of 1711 of 146 of 149 of 149 of 143 of 143 of 135 of 138 of 136 of 133 of 137 of 132 of 127 of 114 of 118 of 114 of 11
SPY S&P 500State Street SPDR S&P 500 ETF15 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
CNQ Canadian Natural Resources Limited15 of 25+15.5%−1.3%+23.7%+39.9%+83.3%−19.1%+39.6%−28.9%+15.0%+51.6%−27.4%−6.8%+19.1%−21.7%−15.2%+24.4%+81.4%−44.9%+38.1%+7.6%+133%+71.3%+72.2%+24.3%−10.9%————
COP ConocoPhillips15 of 29−2.3%−12.2%+2.0%+72.2%+87.1%−36.0%+6.6%+15.6%+11.9%+10.1%−29.0%+1.5%+27.1%+8.0%+11.0%+38.6%+2.8%−39.9%+25.4%+26.5%+36.9%+35.6%+39.8%−17.5%+8.6%+24.2%+13.6%−9.8%+13.1%
PR Permian Resources Corporation4 of 9+1.9%+10.8%+49.5%+57.7%+299%−67.6%−58.0%−44.4%+0.4%————————————————————
XOM Exxonmobil Holdings Corporation11 of 29+16.0%+11.3%−6.3%+87.4%+57.6%−36.2%+7.2%−15.1%−3.8%+19.9%−12.8%−6.0%+20.1%+4.7%+18.7%+10.1%−12.6%−13.1%+24.3%+39.1%+11.8%+28.1%+20.7%−8.9%−7.5%+10.2%+12.7%+22.5%+28.3%
EOG EOG Resources, Inc.16 of 29−11.4%+4.3%−2.0%+56.9%+88.6%−38.6%−2.8%−18.7%+7.5%+44.0%−22.5%+10.3%+39.7%+23.4%+8.5%−5.5%+47.4%−25.0%+43.6%−14.6%+106%+55.3%+16.1%+2.5%−28.1%+212%+2.5%−18.0%−15.5%
CVX Chevron Corporation13 of 29+10.1%+1.3%−13.6%+58.5%+46.2%−25.9%+15.3%−9.7%+10.6%+36.7%−16.2%−7.0%+19.3%+5.1%+20.3%+22.9%+8.1%−18.3%+30.5%+33.7%+11.5%+25.6%+35.4%−23.2%+9.4%+0.6%+7.2%+11.1%+22.1%
OVV Ovintiv Inc.12 of 24−0.3%−5.2%−10.9%+53.3%+138%−34.8%−17.6%−56.4%+14.2%+132%−62.1%−22.0%−5.2%+10.8%−34.3%−7.8%+697%−28.6%+51.8%+3.3%+60.1%+47.1%+29.4%+22.0%—————
APA APA Corporation11 of 29+11.5%−33.4%−21.2%+76.4%+90.8%−43.7%+1.1%−36.4%−32.1%+45.7%−27.8%−26.3%+10.5%−12.7%−23.6%+16.3%+39.5%−30.2%+62.9%−2.3%+36.3%+25.4%+50.4%+15.1%−21.2%+90.5%+46.9%−27.1%+0.6%
WES Western Midstream Partners, LP9 of 13+12.8%+43.6%+19.5%+29.2%+72.2%−19.2%−22.7%−20.3%−8.0%+22.3%−38.1%+55.5%+34.2%————————————————
FANG Diamondback Energy, Inc.11 of 13−5.6%+10.3%+19.7%+35.4%+127%−46.0%+0.9%−26.4%+24.9%+51.1%+11.9%+13.0%+177%————————————————
DVN Devon Energy Corporation11 of 29+15.0%−25.2%−21.8%+50.9%+196%−35.2%+16.7%−45.1%−8.8%+45.0%−46.6%+0.4%+20.7%−15.0%−20.3%+7.8%+13.1%−25.6%+33.5%+8.1%+61.6%+36.7%+25.4%+19.3%−36.4%+86.3%+7.8%−19.8%+11.3%
CRC California Resources Corp5 of 10−10.8%−2.6%+28.9%+3.7%+81.8%—−47.0%−12.3%−8.7%−8.6%−57.7%——————————————————
SM SM Energy Company15 of 29−49.7%+1.8%+13.1%+18.6%+382%+10.2%−26.1%−29.3%−35.3%+76.5%−48.8%−53.5%+59.6%−28.3%+24.3%+73.0%+70.1%−47.1%+5.4%+0.5%+77.6%+47.3%+15.0%+19.1%−35.8%+171%+35.4%−45.9%+43.0%
MUR Murphy Oil Corporation14 of 29+8.7%−26.8%+2.0%+68.6%+121%−52.8%+19.5%−22.1%+3.4%+46.0%−53.9%−20.3%+29.1%+14.1%−23.8%+40.2%+24.4%−47.0%+68.7%−4.8%+35.4%+24.7%+55.0%+3.9%+42.1%+7.9%+43.7%−21.5%+12.9%
CHRD Chord Energy Corporation2 of 5−16.4%−25.0%+31.8%+34.1%+261%————————————————————————
NOG Northern Oil and Gas, Inc.7 of 18−38.2%+4.9%+25.6%+54.5%+137%−62.6%+3.6%+10.2%−25.5%−28.8%−31.7%−62.5%−10.4%−29.9%−11.9%+130%+355%−62.6%———————————
MTDR Matador Resources Company10 of 13−22.3%+0.4%+0.5%+55.8%+207%−32.9%+15.7%−50.1%+20.9%+30.3%−2.3%+8.5%+127%————————————————
MGY Magnolia Oil & Gas Corporation6 of 8−3.8%+12.2%−7.3%+26.5%+169%−43.9%+12.3%+15.0%—————————————————————
HAL Halliburton Company14 of 29+7.0%−23.2%−6.5%+74.5%+22.0%−21.2%−4.9%−44.6%−8.9%+61.7%−11.9%−21.6%+47.9%+1.6%−14.8%+37.3%+68.3%−51.5%+23.3%+1.1%+59.4%+53.4%+42.1%+47.2%−63.3%−8.9%+37.7%−42.1%+74.5%
SLB Slb N.V.14 of 29+3.3%−24.5%−0.8%+81.1%+39.6%−43.8%+17.8%−44.7%−18.5%+23.5%−16.3%−3.6%+32.1%+3.0%−17.2%+30.0%+56.2%−56.5%+57.1%+31.1%+46.6%+23.8%+32.0%−22.2%−30.3%+43.9%+34.9%−41.6%+63.2%
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Risk and diversification

How OXY has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were OXY's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents OXY's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means OXY fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringOXY fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2015 China and oil sell-off−88.4%+190%May 2011Oct 20209.4 yearsNot yet—
2008 financial crisis−58.1%−46.3%May 2008Nov 20086 monthsDec 20102.1 years
No named crash−49.1%+10.2%May 1998Mar 199910 monthsMar 20012 years
No named crash−41.1%—Jul 1987Jan 19913.5 yearsApr 19954.3 years
Dot-com bust−28.4%−21.1%May 2001Sep 20014 monthsMay 20028 months

How did OXY do in stock market crashes?

This section measures how far OXY, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than OXY.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
OXY This pageOccidental Petroleum Corporation—−4.6%−22.9%−76.8%−30.5%−7.3%−21.4%−36.1%0.0%−58.1%−28.4%
SPY S&P 500State Street SPDR S&P 500 ETF7 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
CNQ Canadian Natural Resources Limited1 of 9−5.8%−32.2%−74.4%−32.1%−11.7%−38.1%−36.9%−0.2%−74.8%—
COP ConocoPhillips3 of 10−6.1%−33.0%−61.8%−28.3%−9.4%−43.4%−19.0%−0.8%−62.4%−31.7%
PR Permian Resources Corporation0 of 5−8.2%−44.3%−90.1%−55.9%−7.9%—————
XOM Exxonmobil Holdings Corporation7 of 10−3.1%−20.5%−47.9%−23.6%−10.0%−15.0%−19.6%−0.3%−33.7%−33.6%
EOG EOG Resources, Inc.1 of 10−7.4%−33.4%−61.5%−37.3%−11.3%−31.7%−35.8%−1.5%−68.0%−52.7%
CVX Chevron Corporation7 of 10−2.6%−24.9%−51.0%−19.6%−5.3%−18.5%−17.2%−0.1%−43.8%−29.5%
OVV Ovintiv Inc.0 of 9−9.6%−36.5%−86.4%−62.0%−11.9%−63.3%−38.5%−0.1%−63.9%—
APA APA Corporation0 of 10−10.3%−40.1%−84.9%−48.2%−13.1%−36.1%−40.5%−2.5%−64.8%−47.1%
WES Western Midstream Partners, LP3 of 6−2.5%−23.5%−77.4%−17.6%−6.5%−63.0%————
FANG Diamondback Energy, Inc.0 of 6−7.7%−33.5%−80.3%−38.7%−9.8%−29.3%————
DVN Devon Energy Corporation1 of 10−8.3%−33.6%−75.9%−49.4%−13.4%−55.2%−36.6%−2.3%−68.6%−52.9%
CRC California Resources Corp1 of 6−8.3%−28.5%−66.3%−72.2%−14.1%−87.6%————
SM SM Energy Company2 of 10−3.6%−44.1%−77.1%−59.5%−11.8%−76.4%−31.1%−3.4%−82.0%−57.0%
MUR Murphy Oil Corporation0 of 10−7.9%−40.4%−79.1%−37.6%−10.7%−52.4%−39.3%−2.5%−63.0%−34.3%
CHRD Chord Energy Corporation0 of 2−5.9%−35.8%————————
NOG Northern Oil and Gas, Inc.1 of 9−8.3%−39.0%−65.5%−55.0%−26.7%−57.7%−45.7%−4.8%−86.7%—
MTDR Matador Resources Company0 of 6−9.5%−34.6%−90.8%−58.7%−10.3%−54.8%————
MGY Magnolia Oil & Gas Corporation2 of 5−6.6%−38.1%−63.6%−33.6%−0.6%—————
HAL Halliburton Company0 of 10−10.2%−45.5%−79.1%−40.0%−10.5%−32.7%−49.8%−4.3%−75.0%−82.8%
SLB Slb N.V.1 of 10−8.8%−36.8%−64.9%−43.6%−10.9%−27.1%−38.9%−3.8%−68.0%−59.8%
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How closely does OXY move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares OXY with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than OXY's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
OXY This pageOccidental Petroleum Corporation80%155%0.511.24
COP ConocoPhillips94%92%1.020.91
CNQ Canadian Natural Resources Limited110%109%1.011.13
XOM Exxonmobil Holdings Corporation78%83%0.940.76
CVX Chevron Corporation86%94%0.910.89
FANG Diamondback Energy, Inc.108%148%0.731.54
EOG EOG Resources, Inc.92%135%0.691.17
WES Western Midstream Partners, LP121%175%0.692.23
MTDR Matador Resources Company156%239%0.652.70
SM SM Energy Company154%244%0.633.21
MUR Murphy Oil Corporation138%225%0.611.79
PR Permian Resources Corporation139%234%0.593.38
DVN Devon Energy Corporation118%199%0.591.80
OVV Ovintiv Inc.131%228%0.582.14
NOG Northern Oil and Gas, Inc.123%228%0.541.68
APA APA Corporation124%246%0.502.54
HAL Halliburton Company113%225%0.501.75
SLB Slb N.V.104%212%0.491.54
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What diversifies OXY?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with OXY's. Because such investments tend not to fall at the same time, pairing OXY with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which OXY lost money. The last two columns show a portfolio that is 80% OXY and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20252024202320202019201820152014201220112008199880/20 mix volatility80/20 mix annual return
OXY Occidental Petroleum Corporation (this page)1.00+98.0%0.55−14.9%−15.9%−4.1%−56.6%−28.3%−13.1%−12.7%−8.9%−16.1%−2.6%−20.7%−39.8%37.3%+15.0%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.34+119%1.48+27.1%+15.9%+17.4%−9.0%+17.8%−5.2%——————30.5%+16.4%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.15+225%1.34+32.8%+29.8%+42.0%+3.9%+18.9%−19.8%+7.7%+8.1%+19.6%−16.1%−20.8%—30.3%+18.5%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.11+83.6%0.95+23.1%+13.4%+20.1%+2.1%+24.9%−9.5%+4.1%+3.4%+20.9%———30.2%+15.9%
SMH TechnologyVanEck Semiconductor ETF-0.12+304%0.94+49.2%+39.1%+73.4%+55.5%+64.5%−9.1%−0.3%+30.2%+8.6%+6.8%−44.7%—29.8%+21.7%
GLD CommoditiesSPDR Gold Shares0.01+120%0.93+63.7%+26.7%+12.7%+24.8%+17.9%−1.9%−10.7%−2.2%+6.6%+9.6%+4.9%—30.1%+17.0%
DFIV InternationalDimensional - International Value ETF0.32+99.4%0.93+45.4%+7.2%+17.7%—————————31.0%+16.2%
VTV Broad MarketVanguard Morningstar Value ETF0.29+78.0%0.91+15.3%+16.0%+9.3%+2.3%+25.7%−5.5%−1.0%+13.2%+15.2%+1.1%−35.9%—30.8%+15.5%
VLUE Broad MarketiShares MSCI USA Value Factor ETF0.12+112%0.91+32.7%+7.2%+14.2%−0.2%+27.2%−11.1%−4.1%+12.8%————30.6%+16.8%

Stocks

InvestmentCorrelation5Y returnSharpe20252024202320202019201820152014201220112008199880/20 mix volatility80/20 mix annual return
OXY Occidental Petroleum Corporation (this page)1.00+98.0%0.55−14.9%−15.9%−4.1%−56.6%−28.3%−13.1%−12.7%−8.9%−16.1%−2.6%−20.7%−39.8%37.3%+15.0%
CAH Medical - DistributionCardinal Health, Inc.-0.03+471%1.54+76.3%+19.0%+34.1%+10.1%+18.0%−24.5%+12.6%+23.0%+3.8%+8.1%−39.6%+51.7%30.1%+21.1%
CLS Hardware, Equipment & PartsCelestica Inc.-0.03+2,780%1.43+220%+215%+160%−2.4%−5.7%−16.3%−6.0%+12.9%+11.2%−24.4%−20.5%—31.7%+34.5%
MCK Medical - DistributionMcKesson Corporation0.29+397%1.41+44.5%+23.7%+24.1%+27.1%+26.7%−28.4%−4.5%+29.3%+25.6%+11.8%−40.4%+46.9%31.6%+20.0%
FIX Engineering & ConstructionComfort Systems USA, Inc.-0.02+1,452%1.41+121%+107%+79.6%+6.7%+15.1%+0.8%+67.7%−10.4%+15.7%−17.0%−15.2%−9.5%31.0%+30.3%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.06+544%1.31+87.9%+103%+37.8%−7.2%+83.6%−37.5%−36.3%+50.9%+2.9%−42.9%−67.4%+7.0%31.0%+23.3%
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Common questions

What was OXY's worst drawdown?

OXY's deepest decline since it began trading in 1986 was 88.4%, from May 2011 to October 2020. It has not yet climbed back to that peak.

What were OXY's best and worst years?

Over 29 full calendar years, OXY's best year was 2022, when it returned 119%. Its worst was 2020, with a return of -56.6%.

Is there a better investment than OXY?

Among OXY's popular alternatives, XOM, CVX and CNQ earned more than OXY with less volatility over the past 5 years. XOM returned 27.5% a year at 26.5% volatility, against 14.6% a year at 37.8%. Looking beyond its popular alternatives, MPC (oil refining) and SHEL (integrated oil & gas) earned more than OXY with less volatility over the past 5 years. MPC returned 50.0% a year at 33.4% volatility, against 14.6% a year at 37.8%.

Is OXY more volatile than the S&P 500?

Yes. OXY's volatility over the past 5 years was 37.8%, 2.2 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, OXY's return lands within 37.8% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is OXY's Sharpe ratio?

OXY's Sharpe ratio over the past 5 years was 0.55, against 0.78 for the S&P 500, so OXY earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is OXY with the S&P 500?

Over the past 5 years, OXY's monthly returns had a correlation of 0.10 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against OXY instead: the lower it is, the more that option would diversify a OXY holding.

What are the best alternatives to OXY?

Of the 20 popular alternatives we compared, eight outperformed OXY in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: CNQ, COP and PR.

Did OXY outperform the S&P 500?

OXY finished ahead of the S&P 500 (SPY) in 14 of 29 full calendar years. In 2025, it returned -14.9%, against +17.7% for the index.

How did OXY do in stock market crashes?

OXY fell less than the S&P 500 (SPY) in three of the ten major crashes it has traded through, and further in seven. The clearest case was the Covid crash, when OXY fell 76.8% and the S&P 500 fell 33.7%.

What diversifies OXY?

These had a low correlation with OXY over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.34), DXJ (correlation 0.15) and DBEF (correlation 0.11); among large stocks, CAH (correlation -0.03), CLS (correlation -0.03) and MCK (correlation 0.29). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to OXY

Other stocks and ETFs