COP drawdown: 10.9% below the all-time high
ConocoPhillips (COP) is 10.9% below its all-time high, set Nov 7, 2022 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1981).
- Below all-time high
- −10.9%
- 89.1% of ATH
- All-time high
- $134.9
- Nov 7, 2022
- Time below the high
- 3.7 yrs
- since Nov 7, 2022
- Worst-ever drawdown
- −73.9%
- Mar 18, 2020
- Longest underwater
- 7.5 yrs
- between all-time highs
- Today's level first reached
- Jun 7, 2022
- 4.1 yrs ago
- Last time this deep
- Sep 30, 2022
- in a previous episode
% of all-time high since 1981#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of COP, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jul 23, 2014 | Mar 18, 2020 | −73.9% | 5.7 yrs | Jan 18, 2022 | 7.5 yrs |
| Jun 17, 2008 | Mar 2, 2009 | −63.3% | 8 mo | Oct 17, 2013 | 5.3 yrs |
| Dec 20, 1984 | Jul 28, 1986 | −53.6% | 1.6 yrs | Aug 3, 1987 | 2.6 yrs |
| Aug 3, 1987 | Nov 20, 1987 | −44.2% | 4 mo | Apr 8, 1988 | 8 mo |
| Dec 31, 1981 | Aug 18, 1982 | −41.4% | 8 mo | Feb 15, 1984 | 2.1 yrs |
| Nov 7, 2022 | Apr 8, 2025 | −38.7% | 2.4 yrs | not yet | 3.7 yrs+ |
| Sep 20, 1999 | Feb 24, 2000 | −35.9% | 5 mo | May 31, 2000 | 8 mo |
| May 18, 2001 | Oct 9, 2002 | −33.9% | 17 mo | Jan 26, 2004 | 2.7 yrs |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1981: how far COP stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: COP is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is COP from its all-time high?
- COP is currently 10.9% below its all-time high, set Nov 7, 2022 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest COP drawdown ever?
- The deepest decline on record in our data (since 1981) took the stock 73.9% below its prior high, bottoming Mar 18, 2020. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1981 (split-adjusted). "All-time" means since our price data begins — COP may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.