# How Shell (SHEL) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/shel
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on SHEL alone. It places SHEL (Shell plc) against 17 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 SHEL stands in the market, and of the alternatives worth a closer look.

Period covered: SHEL's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 3 months, SHEL rose 23.5% against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100. Its integrated oil & gas peers were far apart over the past 3 months, from PBR (Petróleo Brasileiro S.A. - Petrobras, up 45.4%) to TTE (TotalEnergies, up 12.8%).
- **Stock or market?:** Not a move of its own: the integrated oil & gas ETF XLE (State Street Energy Select Sector SPDR ETF) rose 18.0% over the past 3 months, with XOM (Exxonmobil, up 20.7%) and CVX (Chevron, up 20.0%), against 3.9% for the S&P 500. Last month cut against the tape: SHEL rose 13.2% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** SHEL has run far ahead of the market, rising 50.3% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100.
- **Long term:** SHEL turned $10,000 into $33,300 over the past decade, against $42,100 in the S&P 500. Even so, the past 5 years have been the better stretch: SHEL rose 159% against 81.7% for the S&P 500, after trailing over the decade.
- **In a crash:** Across seven sell-offs, SHEL has typically fallen 1.3 times as far as the S&P 500. In the Covid crash, SHEL fell 57.0%, against 33.7% for the S&P 500. That was more than XOM (Exxonmobil, 47.9%) but less than PBR (Petróleo Brasileiro S.A. - Petrobras, 71.2%).
- **Diversification:** Against the S&P 500, SHEL has a correlation of 0.07 over 5 years, less closely than 96% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. SHEL's link to the S&P 500 has loosened: a correlation of 0.07 over the past 5 years, down from 0.47 in the 5 years before.
- **Better options**
  - **Nearby categories and themes:** MPLX (oil & gas midstream) earned more than SHEL with less volatility over the past 5 years: 23.5% a year at 18.8% volatility, against 21.0% a year at 24.8%.
  - **Whole market:** Few investments have done better on both counts: only five of the 3,633 stocks and funds worth at least $500 million earned more than SHEL with less volatility over the past 5 years, among them ABBV (AbbVie), TRV (Travelers Companies) and COR (Cencora).

## How much would $10,000 in SHEL have grown?

This chart tracks a hypothetical $10,000 investment in SHEL over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of SHEL over the same span and SHEL's popular alternatives, among those that traded for the entire period.

- $10,000 invested in SHEL at the end of September 1997 would have grown to $63,537 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Seven of the eight other investments on the chart ended ahead of SHEL, and VLO finished highest, at $1,019,941.

## SHEL 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.

- SHEL's deepest decline since it began trading in 1986 was 67.2%, from May 2018 to March 2020. It took 27 months from the low to climb back to its old high.
- Over 29 full calendar years, SHEL's best was 2022, when it returned 36.0%, and its worst was 2020, when it lost 37.4%. It lost money in ten of those years.
- SHEL is 1.1% below its all-time high.

- Type: Stock, Energy (Oil & Gas Integrated)
- Trading since: October 20, 1986
- Market value: $301B
- Volatility (5 years): 24.8%; Sharpe ratio: 0.90
- Worst decline ever: −67.2%, from May 21, 2018 to March 18, 2020; back at its high by June 7, 2022

| Period | SHEL total return |
| --- | --- |
| 1 month | +13.2% |
| 3 months | +23.5% |
| 6 months | +22.1% |
| year to date | +43.7% |
| 1 year | +50.3% |
| 3 years | +77.1% |
| 5 years | +159% |
| 10 years | +233% |

## SHEL against the whole market

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

### How does SHEL rank among all stocks?

This section ranks SHEL on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- On return for the risk taken (the Sharpe ratio), SHEL ranks in the top 6% of the 2,893 stocks worth at least $300 million.

| Measure | SHEL | Rank |
| --- | --- | --- |
| 1-year return | +50.3% | 547 of 3,287 (top 17%) |
| 3-year return | +77.1% | 1,165 of 3,017 (top 39%) |
| 5-year return | +159% | 419 of 2,893 (top 15%) |
| 10-year return | +233% | 765 of 2,202 (top 35%) |
| Volatility, 5 years | 24.8% | 310 of 2,893 (top 11%) |
| Sharpe ratio, 5 years | 0.90 | 176 of 2,893 (top 7%) |
| Worst decline, past 10 years | −67.2% | 1,191 of 2,187 (top 55%) |

### What has beaten SHEL 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).

- Four stocks and one ETF worth at least $500 million sit in the green region: each earned more than SHEL over the past 5 years with smaller price swings. That is fewer than 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half SHEL's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 23% less than SHEL's 24.8%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.90 for SHEL.
- None of SHEL's popular alternatives made it, but MPLX (oil & gas midstream) did: 23.5% a year at 18.8% volatility, 24% less than SHEL's 24.8%.

### Is there a better investment than SHEL?

The table below lists investments that beat SHEL 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.

- Among SHEL's popular alternatives, XOM earned more for the risk it took than SHEL over the past 5 years, and its worst fall in 10 years was 61.0%, against 67.2% for SHEL.
- Looking beyond its popular alternatives, MPLX (oil & gas midstream) earned more than SHEL with less volatility over the past 5 years: 23.5% a year at 18.8% volatility, against 21.0% a year at 24.8%.
- Few investments have done better on both counts: only five of the 3,633 stocks and funds worth at least $500 million earned more than SHEL with less volatility over the past 5 years, among them ABBV, TRV and COR.

The 5 strongest of 5 investments that beat SHEL over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with SHEL | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SHEL: Shell plc (this page) |  | +21.0% | 24.8% | 0.90 | −67.2% | +233% |  |  |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | Pharmaceuticals | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.03 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | Property & Casualty Insurance | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.34 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.20 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [COR](https://easycompare.io/research/cor): Cencora, Inc. | Health Care Distribution | +24.2% | 22.8% | 1.07 | −32.4% | +406% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | Oil & Gas Midstream | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.40 | Higher return, lower volatility |

## SHEL against its popular alternatives

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

### How do SHEL'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.

- Only WMB was both more rewarding and calmer than SHEL over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, SHEL returned 21.0% a year, more than the S&P 500's 12.7%, with higher volatility (24.8% against 17.1%).

### Has SHEL consistently beaten its popular alternatives?

This section compares SHEL with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Four of the 17 popular alternatives, led by PBR, SU and VLO, outperformed SHEL in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- PBR, SU and VLO outperformed SHEL in every long-term period and in all but one short-term period, the most consistent record in the group.
- XOM and E earned more for the risk they took than SHEL (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of SHEL | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| SHEL: Shell plc (this page) | +50.3% | +77.1% | +159% | +233% |  |  | 0.90 |
| [PBR](https://easycompare.io/research/pbr): Petróleo Brasileiro S.A. - Petrobras | +140% | +132% | +667% | +674% | 5/5 short-term, 3/3 long-term | all-weather | 1.28 |
| [SU](https://easycompare.io/research/su): Suncor Energy Inc. | +111% | +161% | +318% | +295% | 5/5 short-term, 3/3 long-term | all-weather | 1.05 |
| [VLO](https://easycompare.io/research/vlo): Valero Energy Corporation | +176% | +259% | +524% | +1,061% | 4/5 short-term, 3/3 long-term | all-weather | 1.18 |
| EC: Ecopetrol S.A. | +112% | +116% | +129% | +401% | 3/5 short-term, 2/3 long-term | consistent | 0.63 |
| [IMO](https://easycompare.io/research/imo): Imperial Oil Limited | +59.7% | +143% | +337% | +430% | 2/5 short-term, 3/3 long-term |  | 1.09 |
| [E](https://easycompare.io/research/e): Eni S.p.A. | +77.9% | +120% | +181% | +278% | 2/5 short-term, 3/3 long-term |  | 0.94 |
| [WMB](https://easycompare.io/research/wmb): The Williams Companies, Inc. | +14.9% | +125% | +200% | +288% | 0/5 short-term, 3/3 long-term |  | 1.04 |
| YPF: YPF Sociedad Anónima | +102% | +313% | +971% | +173% | 2/5 short-term, 2/3 long-term |  | 1.14 |
| [LNG](https://easycompare.io/research/lng): Cheniere Energy, Inc. | +29.3% | +69.8% | +186% | +616% | 0/5 short-term, 2/3 long-term |  | 0.85 |
| [COP](https://easycompare.io/research/cop): ConocoPhillips | +72.9% | +28.5% | +131% | +379% | 5/5 short-term, 1/3 long-term |  | 0.68 |
| [EQNR](https://easycompare.io/research/eqnr): Equinor ASA | +107% | +73.2% | +141% | +416% | 3/5 short-term, 1/3 long-term |  | 0.69 |
| [CVE](https://easycompare.io/research/cve): Cenovus Energy Inc. | +101% | +76.2% | +225% | +163% | 3/5 short-term, 1/3 long-term |  | 0.80 |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | +62.4% | +76.7% | +232% | +214% | 2/5 short-term, 1/3 long-term |  | 1.04 |
| [CVX](https://easycompare.io/research/cvx): Chevron Corporation | +51.9% | +53.4% | +144% | +238% | 3/5 short-term, 0/3 long-term |  | 0.84 |
| [BP](https://easycompare.io/research/bp): BP p.l.c. | +56.3% | +46.5% | +110% | +141% | 2/5 short-term, 0/3 long-term |  | 0.66 |
| [TTE](https://easycompare.io/research/tte): TotalEnergies SE | +55.2% | +60.5% | +129% | +234% | 1/5 short-term, 0/3 long-term |  | 0.78 |
| [SLB](https://easycompare.io/research/slb): Slb N.V. | +53.2% | −7.2% | +60.7% | −21.3% | 1/5 short-term, 0/3 long-term |  | 0.44 |

### How did SHEL do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where SHEL ranked among its popular alternatives each year.

- SHEL finished ahead of the S&P 500 in 14 of its 29 full calendar years.
- Among its popular alternatives, VLO came out ahead of SHEL most often, in 19 of the 29 years both traded.
- Ranked against its popular alternatives each year, SHEL finished in the top quarter in three of 29 years and in the bottom quarter in four. In 2025, it ranked 8 of 18.

| Year | SHEL | SPY |
| --- | --- | --- |
| 2025 | +22.2% | +17.7% |
| 2024 | −0.9% | +24.9% |
| 2023 | +20.2% | +26.2% |
| 2022 | +36.0% | −18.2% |
| 2021 | +28.4% | +28.7% |
| 2020 | −37.4% | +18.3% |
| 2019 | +7.7% | +31.2% |
| 2018 | −7.5% | −4.6% |
| 2017 | +31.0% | +21.7% |
| 2016 | +28.2% | +12.0% |

## Risk and diversification

How SHEL 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 SHEL's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all four of SHEL's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: SHEL fell 51.5% from July 2014 to January 2016, while the S&P 500 slipped only 2.9%.
- The slowest recovery came after SHEL fell 67.2% from May 2018 to March 2020; it did not regain that peak until June 2022, two years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −67.2% | May 21, 2018 | March 18, 2020 | June 7, 2022 | −9.2% | late-2018 sell-off |
| −53.7% | May 21, 2008 | March 3, 2009 | April 8, 2011 | −48.8% | 2008 financial crisis |
| −51.5% | July 2, 2014 | January 20, 2016 | December 21, 2017 | −2.9% | 2015 China and oil sell-off |
| −39.0% | October 12, 2000 | March 12, 2003 | November 12, 2004 | −37.2% | dot-com bust |
| −32.8% | November 28, 1986 | December 2, 1986 | December 12, 1986 | — |  |

### How did SHEL do in stock market crashes?

This section measures how far SHEL, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, CVX held up best, falling less than SHEL in eight of the ten crashes they both traded through.
- SHEL fell further than the S&P 500 in five of the ten crashes it has traded through. The clearest case was the Covid crash, when SHEL fell 57.0% and the S&P 500 fell 33.7%.

| Crash | Dates | SHEL fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −36.2% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −53.7% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.6% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −19.6% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −35.9% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.3% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −19.1% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −57.0% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −25.0% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −3.7% | −3.4% |

### How closely does SHEL 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.

- Over the past 10 years, SHEL captured 60% of the S&P 500's gains in rising months and 43% of its losses in falling months, with a beta of 0.45. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- Only LNG, PBR and EQNR had a higher capture ratio (upside capture divided by downside capture) than SHEL's 1.40, out of 17 popular alternatives with the same record.
- LNG took just 30% of the S&P 500's losses, against 43% for SHEL, while still keeping 79% of its gains.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| SHEL: Shell plc (this page) | 60.0% | 43.0% | 0.45 |
| [PBR](https://easycompare.io/research/pbr): Petróleo Brasileiro S.A. - Petrobras | 104% | 63.0% | 0.99 |
| [SU](https://easycompare.io/research/su): Suncor Energy Inc. | 90.0% | 90.0% | 0.96 |
| [VLO](https://easycompare.io/research/vlo): Valero Energy Corporation | 142% | 114% | 1.31 |
| EC: Ecopetrol S.A. | 127% | 139% | 1.13 |
| [IMO](https://easycompare.io/research/imo): Imperial Oil Limited | 110% | 105% | 1.18 |
| [E](https://easycompare.io/research/e): Eni S.p.A. | 79.0% | 69.0% | 0.70 |
| [WMB](https://easycompare.io/research/wmb): The Williams Companies, Inc. | 85.0% | 78.0% | 1.02 |
| YPF: YPF Sociedad Anónima | 144% | 206% | 1.58 |
| [LNG](https://easycompare.io/research/lng): Cheniere Energy, Inc. | 79.0% | 30.0% | 0.77 |
| [COP](https://easycompare.io/research/cop): ConocoPhillips | 94.0% | 92.0% | 0.91 |
| [EQNR](https://easycompare.io/research/eqnr): Equinor ASA | 79.0% | 52.0% | 0.62 |
| [CVE](https://easycompare.io/research/cve): Cenovus Energy Inc. | 124% | 173% | 1.69 |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | 78.0% | 83.0% | 0.76 |
| [CVX](https://easycompare.io/research/cvx): Chevron Corporation | 86.0% | 94.0% | 0.89 |
| [BP](https://easycompare.io/research/bp): BP p.l.c. | 58.0% | 62.0% | 0.51 |
| [TTE](https://easycompare.io/research/tte): TotalEnergies SE | 69.0% | 57.0% | 0.51 |
| [SLB](https://easycompare.io/research/slb): Slb N.V. | 104% | 212% | 1.54 |

### What diversifies SHEL?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in SHEL into SPMO would have cut the portfolio's volatility by 20% over the past 5 years and raised its annual return (+21.0% for SHEL alone, +22.0% for the mix).
- Among large ETFs, DXJ, EMLP and SMH have moved largely independently of SHEL over the past 5 years, with correlations of 0.43 or lower, and each still earned a positive 5-year return.
- FIX made money in six of the ten calendar years in which SHEL lost money.

| Investment | Correlation with SHEL | 5Y return | Volatility | Sharpe | Rose in SHEL's 10 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.20 | +225% | 19.1% | 1.34 | 5 of 10 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.43 | +101% | 14.5% | 1.04 | 2 of 10 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | -0.16 | +323% | 36.9% | 0.97 | 4 of 10 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.22 | +85.0% | 13.8% | 0.96 | 5 of 10 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.04 | +126% | 18.9% | 0.96 | 4 of 10 |
| SPMO: Invesco S&P 500 Momentum ETF | -0.10 | +136% | 20.8% | 0.93 | 2 of 10 |
| DFIV: Dimensional - International Value ETF | 0.49 | +99.4% | 16.4% | 0.93 | 1 of 10 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | 0.30 | +76.6% | 13.7% | 0.90 | 4 of 10 |

## Common questions

### What was SHEL's worst drawdown?

SHEL's deepest decline since it began trading in 1986 was 67.2%, from May 2018 to March 2020. It took 27 months from the low to climb back to its old high.

### What were SHEL's best and worst years?

Over 29 full calendar years, SHEL's best year was 2022, when it returned 36.0%. Its worst was 2020, with a return of -37.4%.

### Is there a better investment than SHEL?

Among SHEL's popular alternatives, XOM earned more for the risk it took than SHEL over the past 5 years, and its worst fall in 10 years was 61.0%, against 67.2% for SHEL. Looking beyond its popular alternatives, MPLX (oil & gas midstream) earned more than SHEL with less volatility over the past 5 years: 23.5% a year at 18.8% volatility, against 21.0% a year at 24.8%.

### Is SHEL more volatile than the S&P 500?

Yes. SHEL's volatility over the past 5 years was 24.8%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SHEL's return lands within 24.8% 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 SHEL's Sharpe ratio?

SHEL's Sharpe ratio over the past 5 years was 0.90, against 0.79 for the S&P 500, so SHEL earned more 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 SHEL with the S&P 500?

Over the past 5 years, SHEL's monthly returns had a correlation of 0.07 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are close to unrelated, or move in opposite directions, so it can steady a stock portfolio. In the table, the correlation column measures each option against SHEL instead: the lower it is, the more that option would diversify a SHEL holding.

### What are the best alternatives to SHEL?

Of the 17 popular alternatives we compared, four outperformed SHEL in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: PBR, SU and VLO.

### Did SHEL outperform the S&P 500?

SHEL finished ahead of the S&P 500 (SPY) in 14 of 29 full calendar years. In 2025, it returned +22.2%, against +17.7% for the index.

### How did SHEL do in stock market crashes?

SHEL fell less than the S&P 500 (SPY) in two of the ten major crashes it has traded through, and further in five. The clearest case was the Covid crash, when SHEL fell 57.0% and the S&P 500 fell 33.7%.

### What diversifies SHEL?

These had a low correlation with SHEL over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.20), EMLP (correlation 0.43) and SMH (correlation -0.16); among large stocks, CAH (correlation 0.05), CLS (correlation 0.04) and FIX (correlation -0.04). A correlation near zero means the two have moved largely independently.

## More research

- [Petróleo Brasileiro S.A. - Petrobras (PBR) Performance, Alternatives and Market Rank](https://easycompare.io/research/pbr)
- [Suncor Energy (SU) Performance, Alternatives and Market Rank](https://easycompare.io/research/su)
- [Valero Energy (VLO) Performance, Alternatives and Market Rank](https://easycompare.io/research/vlo)
- [Imperial Oil (IMO) Performance, Alternatives and Market Rank](https://easycompare.io/research/imo)
- [Eni S.p.A. (E) Performance, Alternatives and Market Rank](https://easycompare.io/research/e)
- [Williams Companies (WMB) Performance, Alternatives and Market Rank](https://easycompare.io/research/wmb)
- [Cheniere Energy (LNG) Performance, Alternatives and Market Rank](https://easycompare.io/research/lng)
- [ConocoPhillips (COP) Performance, Alternatives and Market Rank](https://easycompare.io/research/cop)
- [Equinor ASA (EQNR) Performance, Alternatives and Market Rank](https://easycompare.io/research/eqnr)
- [Cenovus Energy (CVE) Performance, Alternatives and Market Rank](https://easycompare.io/research/cve)
- [Exxonmobil (XOM) Performance, Alternatives and Market Rank](https://easycompare.io/research/xom)
- [Chevron (CVX) Performance, Alternatives and Market Rank](https://easycompare.io/research/cvx)

## Explore further

- Full page with charts: https://easycompare.io/research/shel
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against SHEL live: https://betterthanspy.com/?b=SHEL&utm_source=easycompare&utm_medium=research