Compare two stocks
CVX and DAL clearly differ on 1 of 19 forces. The widest gap is oil and energy: in weeks when the price of oil rose 10%, CVX typically moved +2.2% and DAL −3.3%.
| Economic force | CVXChevron Corporation | DALDelta Air Lines |
|---|---|---|
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | −0.48%−1.9% to +0.94%Not distinguishable from zero | +0.58%−0.92% to +2.1%Not distinguishable from zero |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | +4.8%+1.5% to +8.1%Tentative | +2.9%−1.1% to +6.8%Not distinguishable from zero |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | −0.30%−1.6% to +1.0%Not distinguishable from zero | +2.1%−0.08% to +4.2%Not distinguishable from zero |
| Oil and energyIn weeks when the price of oil rose 10%Clear difference | +2.2%+1.2% to +3.2%Clear | −3.3%−4.4% to −2.2%Clear |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | −0.30%−2.4% to +1.8%Not distinguishable from zero | −3.9%−7.3% to −0.57%Tentative |
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | +0.66%−0.65% to +2.0%Not distinguishable from zero | −2.1%−4.6% to +0.50%Not distinguishable from zero |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | −0.94%−2.2% to +0.36%Not distinguishable from zero | −2.0%−3.3% to −0.64%Tentative |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | +0.11%−1.0% to +1.2%Not distinguishable from zero | +1.6%+0.17% to +3.1%Tentative |
| GoldIn weeks when the price of gold rose 5% | −0.92%−1.5% to −0.35%Tentative | −0.60%−1.8% to +0.63%Not distinguishable from zero |
| CopperIn weeks when the price of copper rose 5% | +0.55%−0.06% to +1.2%Not distinguishable from zero | +0.61%−0.24% to +1.5%Not distinguishable from zero |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10% | −0.01%−0.04% to +0.02%Not distinguishable from zero | −0.05%−0.10% to 0.00%Not distinguishable from zero |
| BitcoinIn weeks when the price of bitcoin rose 10% | −0.52%−1.3% to +0.27%Not distinguishable from zero | −0.20%−1.3% to +0.94%Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point | +0.48%+0.28% to +0.68%Clear | +1.0%+0.52% to +1.5%Clear |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point | +0.89%+0.72% to +1.1%Clear | +0.90%+0.54% to +1.3%Clear |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage point | −0.28%−0.56% to 0.00%Tentative | +0.02%−0.38% to +0.42%Not distinguishable from zero |
| EuroIn weeks when the euro rose 2% against the U.S. dollar | −1.8%−3.6% to +0.06%Not distinguishable from zero | −2.8%−5.2% to −0.49%Tentative |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollar | −0.34%−1.0% to +0.29%Not distinguishable from zero | +0.14%−1.0% to +1.3%Not distinguishable from zero |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point | +0.06%−0.27% to +0.40%Not distinguishable from zero | −0.10%−0.48% to +0.27%Not distinguishable from zero |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point | +0.10%−0.05% to +0.24%Not distinguishable from zero | −0.05%−0.27% to +0.18%Not distinguishable from zero |
Each figure is the stock's typical move in a week when the force moved by the stated amount, after accounting for the stock market, with its 90% range beneath. Grey figures could not be told apart from zero. A row is marked a clear difference only when the two 90% ranges do not overlap.
This describes the past, and it is not a forecast. Relationships change, and nothing here is a recommendation to buy, sell or hold any security.