Tax-loss harvesting alternatives for BP

Among the 4 Integrated Oil & Gas peers screened, SHEL (Shell plc) has tracked BP most closely over the past year, with a return correlation of 0.80. The strongest fund stand-in is VDE (Vanguard Energy ETF) at 0.78 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
SHEL	Shell plc	Integrated Oil & Gas	0.80	0.78	0.83	0.87
TTE	TotalEnergies SE	Integrated Oil & Gas	0.75	0.74	0.78	0.82
XOM	Exxon Mobil	Integrated Oil & Gas	0.71	0.67	0.71	0.76
CVX	Chevron Corp.	Integrated Oil & Gas	0.71	0.67	0.70	0.75

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
VDE	Vanguard Energy ETF	Energy Sector	SECTOR	0.78	0.74	0.77	0.81
FENY	Fidelity MSCI Energy ETF	Energy Sector	SECTOR	0.77	0.74	0.77	0.81
IYE	iShares US Energy ETF	Energy Sector	SECTOR	0.77	0.74	0.77	0.81
XLE	Energy Select Sector SPDR	Energy Sector	SECTOR	0.76	0.73	0.77	0.81
IEO	iShares US Oil & Gas E&P ETF	Oil & Gas E&P	SUB-IND	0.75	0.73	0.76	0.78
XOP	SPDR S&P Oil & Gas E&P ETF	Oil & Gas E&P	SUB-IND	0.73	0.72	0.73	0.73
CRAK	VanEck Oil Refiners ETF	Oil Refiners	SUB-IND	0.56	0.59	0.68	0.70
OIH	VanEck Oil Services ETF	Oil Services	SUB-IND	0.54	0.64	0.71	0.74
IEZ	iShares US Oil Equipment & Services	Oil Services	SUB-IND	0.51	0.63	0.70	0.74
AMLP	Alerian MLP ETF	Energy Infrastructure	INDUSTRY	0.49	0.47	0.58	0.62
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	-0.12	0.22	0.32	0.46
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	-0.12	0.21	0.31	0.46

NEXT STEPS

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Replacement research for BP's peers

SHEL TTE XOM CVX

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.