BAJAJ-AUTO.NS vs. M&M.NS

Last updated Jun 5, 2026

BAJAJ-AUTO.NS (Bajaj Auto Limited) and M&M.NS (Mahindra & Mahindra Limited) are both stocks. Both operate in the Auto Manufacturers industry within the Consumer Cyclical sector. Over the past 10 years, BAJAJ-AUTO.NS returned 17.67%/yr vs 16.84%/yr for M&M.NS. At a 0.36 correlation, their price movements are largely independent.

Performance

BAJAJ-AUTO.NS vs. M&M.NS - Performance Comparison

The chart below illustrates the hypothetical performance of a ₹10,000 investment in Bajaj Auto Limited (BAJAJ-AUTO.NS) and Mahindra & Mahindra Limited (M&M.NS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BAJAJ-AUTO.NS achieves a 12.38% return, which is significantly higher than M&M.NS's -18.69% return. Both investments have delivered pretty close results over the past 10 years, with BAJAJ-AUTO.NS having a 17.67% annualized return and M&M.NS not far behind at 16.84%.

BAJAJ-AUTO.NS

• 1D: 1.16%
• 1M: -1.76%
• YTD: 12.38%
• 6M: 15.35%
• 1Y: 24.49%
• 3Y*: 33.44%
• 5Y*: 23.16%
• 10Y*: 17.67%

M&M.NS

• 1D: 0.17%
• 1M: -9.44%
• YTD: -18.69%
• 6M: -18.08%
• 1Y: -2.13%
• 3Y*: 30.41%
• 5Y*: 31.48%
• 10Y*: 16.84%

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

BAJAJ-AUTO.NS vs. M&M.NS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BAJAJ-AUTO.NS Bajaj Auto Limited	12.38%	8.82%	30.23%	93.71%	15.79%	-2.09%	12.86%	19.31%	-16.54%	29.05%
M&M.NS Mahindra & Mahindra Limited	-18.69%	24.34%	75.15%	39.89%	50.75%	17.48%	36.15%	-32.95%	7.89%	26.82%

Correlation

The correlation between BAJAJ-AUTO.NS and M&M.NS is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since May 27, 2008	0.36

The correlation between BAJAJ-AUTO.NS and M&M.NS shifts across timeframes, from 0.36 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BAJAJ-AUTO.NS vs. M&M.NS — Risk / Return Rank

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

BAJAJ-AUTO.NS

BAJAJ-AUTO.NS Risk / Return Rank: 73
BAJAJ-AUTO.NS Sharpe Ratio Rank: 76
BAJAJ-AUTO.NS Sortino Ratio Rank: 72
BAJAJ-AUTO.NS Omega Ratio Rank: 67
BAJAJ-AUTO.NS Calmar Ratio Rank: 74
BAJAJ-AUTO.NS Martin Ratio Rank: 77

M&M.NS

M&M.NS Risk / Return Rank: 38
M&M.NS Sharpe Ratio Rank: 40
M&M.NS Sortino Ratio Rank: 34
M&M.NS Omega Ratio Rank: 34
M&M.NS Calmar Ratio Rank: 40
M&M.NS Martin Ratio Rank: 40

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.

BAJAJ-AUTO.NS vs. M&M.NS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bajaj Auto Limited (BAJAJ-AUTO.NS) and Mahindra & Mahindra Limited (M&M.NS). 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.

	BAJAJ-AUTO.NS	M&M.NS	Difference
Sharpe ratio: Return per unit of total volatility	1.18	-0.02	+1.20
Sortino ratio: Return per unit of downside risk	1.81	0.17	+1.64
Omega ratio: Gain probability vs. loss probability	1.21	1.02	+0.19
Calmar ratio: Return relative to maximum drawdown	1.92	-0.02	+1.94
Martin ratio: Return relative to average drawdown	5.46	-0.04	+5.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAJAJ-AUTO.NS vs. M&M.NS - Sharpe Ratio Comparison

The current BAJAJ-AUTO.NS Sharpe Ratio is 1.18, which is higher than the M&M.NS Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of BAJAJ-AUTO.NS and M&M.NS, 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

	BAJAJ-AUTO.NS	M&M.NS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	-0.02	+1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	1.15	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.57	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.19	+0.65

Drawdowns

BAJAJ-AUTO.NS vs. M&M.NS - Drawdown Comparison

The maximum BAJAJ-AUTO.NS drawdown since its inception was -52.38%, smaller than the maximum M&M.NS drawdown of -94.09%. Use the drawdown chart below to compare losses from any high point for BAJAJ-AUTO.NS and M&M.NS.

Drawdown Indicators

	BAJAJ-AUTO.NS	M&M.NS	Difference
Max Drawdown Largest peak-to-trough decline	-52.38%	-94.09%	+41.71%
Max Drawdown (1Y) Largest decline over 1 year	-13.63%	-22.91%	+9.28%
Max Drawdown (3Y) Largest decline over 3 years	-42.12%	-22.91%	-19.21%
Max Drawdown (5Y) Largest decline over 5 years	-42.12%	-28.09%	-14.03%
Max Drawdown (10Y) Largest decline over 10 years	-42.12%	-72.28%	+30.16%
Current Drawdown Current decline from peak	-14.83%	-20.68%	+5.85%
Average Drawdown Average peak-to-trough decline	-10.75%	-31.10%	+20.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.05%	9.68%	-4.63%

Volatility

BAJAJ-AUTO.NS vs. M&M.NS - Volatility Comparison

Bajaj Auto Limited (BAJAJ-AUTO.NS) and Mahindra & Mahindra Limited (M&M.NS) have volatilities of 7.00% and 6.92%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAJAJ-AUTO.NS	M&M.NS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.00%	6.92%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	17.84%	21.45%	-3.61%
Volatility (1Y) Calculated over the trailing 1-year period	22.22%	26.75%	-4.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.87%	27.81%	-3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	30.40%	-4.97%

Dividends

BAJAJ-AUTO.NS vs. M&M.NS - Dividend Comparison

BAJAJ-AUTO.NS's dividend yield for the trailing twelve months is around 3.47%, more than M&M.NS's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAJAJ-AUTO.NS Bajaj Auto Limited	3.47%	2.25%	0.91%	2.05%	3.86%	4.31%	3.49%	1.89%	2.20%	1.65%	2.09%	1.97%
M&M.NS Mahindra & Mahindra Limited	0.84%	0.68%	0.70%	0.94%	0.92%	1.05%	0.33%	1.60%	0.93%	0.01%	0.02%	0.01%

Financials

Frequently Asked Questions

Can I hold both BAJAJ-AUTO.NS and M&M.NS in my portfolio?

BAJAJ-AUTO.NS and M&M.NS have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.