Chevron Stock Analysis

The first step was to gather historical price performance for Chevron Stock (CVX) as well Brent Crude Price, US GDP, and Oil Production in Millions of Barrels. The date range for this analysis was from Jan 2021 to Sept 2022.

The gather was compiled using Excel and Google Sheets. Data sources used were

--U.S. Energy Information Administration (EIA) --Yahoo finance -- Gross Domestic Product (GDP) | FRED | St. Louis Fed (stlouisfed.org).

The data was cleaned in Excel and correlations between sets of variables were calculated. (pic1)

The data was uploaded to Tableau and graphed to visually show the relationship between each set of variables. Finally a finished Tableau story was published.

Strong correlation between CVX stock price and Brent crude price per barrel. 0.874170055. Notice in 2022 the correlation became negative -0.0602146054. (pic2)

Strong Positive Correlation between CVX stock price and US GDP. 0.8784680409 overall 2021 -2022 Note weaker correlation in 2022 0.02480590442. (pic3)

While most of the variables had correlations I would expect over the time frame, there was one surprise. Q2 and Q3 of 2022 saw a negative correlation between CVX stock price and Brent crude price. This was unexpected as they moved with high degree of positive correlation until that point. Conclusions may be CVX is fully valued and perhaps overbought or the drop in crude price was temporary and not due to structural reasons.

Full project here: https://public.tableau.com/app/profile/chris.ford4921/viz/CVXStockAnalysisStory/Story1