AZM.MI vs. ADYEN.AS

Last updated Jun 5, 2026

AZM.MI (Azimut Holding S.p.A) and ADYEN.AS (Adyen N.V.) are both stocks. AZM.MI operates in Asset Management (Financial Services), while ADYEN.AS operates in Software - Infrastructure (Technology). Over the past 5 years, AZM.MI returned 17.97%/yr vs -13.60%/yr for ADYEN.AS. At a 0.35 correlation, their price movements are largely independent.

Performance

AZM.MI vs. ADYEN.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Azimut Holding S.p.A (AZM.MI) and Adyen N.V. (ADYEN.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AZM.MI achieves a 3.20% return, which is significantly higher than ADYEN.AS's -34.76% return.

AZM.MI

• 1D: 2.11%
• 1M: -1.04%
• YTD: 3.20%
• 6M: 5.86%
• 1Y: 41.64%
• 3Y*: 28.32%
• 5Y*: 17.97%
• 10Y*: 14.62%

ADYEN.AS

• 1D: 5.75%
• 1M: -6.33%
• YTD: -34.76%
• 6M: -33.53%
• 1Y: -47.40%
• 3Y*: -17.20%
• 5Y*: -13.60%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AZM.MI vs. ADYEN.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AZM.MI Azimut Holding S.p.A	3.20%	59.18%	5.49%	20.61%	-9.38%	45.88%	-10.48%	144.23%	-30.00%
ADYEN.AS Adyen N.V.	-34.76%	-4.31%	23.18%	-9.45%	-44.26%	21.34%	160.60%	53.88%	4.41%

Correlation

The correlation between AZM.MI and ADYEN.AS is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018	0.35

Return for Risk

AZM.MI vs. ADYEN.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AZM.MI

AZM.MI Risk / Return Rank: 82
AZM.MI Sharpe Ratio Rank: 83
AZM.MI Sortino Ratio Rank: 78
AZM.MI Omega Ratio Rank: 80
AZM.MI Calmar Ratio Rank: 82
AZM.MI Martin Ratio Rank: 85

ADYEN.AS

ADYEN.AS Risk / Return Rank: 5
ADYEN.AS Sharpe Ratio Rank: 3
ADYEN.AS Sortino Ratio Rank: 5
ADYEN.AS Omega Ratio Rank: 4
ADYEN.AS Calmar Ratio Rank: 7
ADYEN.AS Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AZM.MI vs. ADYEN.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azimut Holding S.p.A (AZM.MI) and Adyen N.V. (ADYEN.AS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AZM.MI	ADYEN.AS	Difference
Sharpe ratio: Return per unit of total volatility	1.61	-1.13	+2.74
Sortino ratio: Return per unit of downside risk	2.21	-1.61	+3.82
Omega ratio: Gain probability vs. loss probability	1.31	0.78	+0.52
Calmar ratio: Return relative to maximum drawdown	2.90	-0.90	+3.79
Martin ratio: Return relative to average drawdown	8.94	-1.53	+10.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AZM.MI vs. ADYEN.AS - Sharpe Ratio Comparison

The current AZM.MI Sharpe Ratio is 1.61, which is higher than the ADYEN.AS Sharpe Ratio of -1.13. The chart below compares the historical Sharpe Ratios of AZM.MI and ADYEN.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AZM.MI	ADYEN.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	-1.13	+2.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	-0.27	+0.92
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.19	+0.26

Drawdowns

AZM.MI vs. ADYEN.AS - Drawdown Comparison

The maximum AZM.MI drawdown since its inception was -77.83%, roughly equal to the maximum ADYEN.AS drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for AZM.MI and ADYEN.AS.

Drawdown Indicators

	AZM.MI	ADYEN.AS	Difference
Max Drawdown Largest peak-to-trough decline	-77.83%	-77.19%	-0.64%
Max Drawdown (1Y) Largest decline over 1 year	-14.93%	-51.62%	+36.69%
Max Drawdown (3Y) Largest decline over 3 years	-24.14%	-62.67%	+38.53%
Max Drawdown (5Y) Largest decline over 5 years	-44.64%	-77.19%	+32.55%
Max Drawdown (10Y) Largest decline over 10 years	-55.91%	—	—
Current Drawdown Current decline from peak	-2.28%	-67.57%	+65.29%
Average Drawdown Average peak-to-trough decline	-23.59%	-32.11%	+8.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.83%	30.53%	-25.70%

Volatility

AZM.MI vs. ADYEN.AS - Volatility Comparison

The current volatility for Azimut Holding S.p.A (AZM.MI) is 8.42%, while Adyen N.V. (ADYEN.AS) has a volatility of 12.64%. This indicates that AZM.MI experiences smaller price fluctuations and is considered to be less risky than ADYEN.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AZM.MI	ADYEN.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.42%	12.64%	-4.22%
Volatility (6M) Calculated over the trailing 6-month period	18.13%	36.18%	-18.05%
Volatility (1Y) Calculated over the trailing 1-year period	26.82%	40.91%	-14.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.06%	50.51%	-23.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.14%	47.16%	-16.02%

Dividends

AZM.MI vs. ADYEN.AS - Dividend Comparison

AZM.MI's dividend yield for the trailing twelve months is around 5.75%, while ADYEN.AS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADYEN.AS Adyen N.V.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
AZM.MI Azimut Holding S.p.A	5.75%	4.90%	4.23%	5.50%	6.21%	4.05%	5.63%	5.64%	11.07%	6.26%	9.46%	3.38%

Financials

Frequently Asked Questions

Can I hold both AZM.MI and ADYEN.AS in my portfolio?

AZM.MI and ADYEN.AS have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.