BFSA.DE vs. APAM.AS

Last updated Jun 4, 2026

BFSA.DE (Befesa SA) and APAM.AS (Aperam S.A.) are both stocks. BFSA.DE operates in Waste Management (Industrials), while APAM.AS operates in Steel (Basic Materials). Over the past 5 years, BFSA.DE returned -7.26%/yr vs 8.77%/yr for APAM.AS. At a 0.37 correlation, their price movements are largely independent.

Performance

BFSA.DE vs. APAM.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Befesa SA (BFSA.DE) and Aperam S.A. (APAM.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFSA.DE achieves a 21.86% return, which is significantly lower than APAM.AS's 53.88% return.

BFSA.DE

• 1D: 0.00%
• 1M: 9.77%
• YTD: 21.86%
• 6M: 31.88%
• 1Y: 33.77%
• 3Y*: 1.85%
• 5Y*: -7.26%
• 10Y*: —

APAM.AS

• 1D: 0.86%
• 1M: 13.52%
• YTD: 53.88%
• 6M: 64.92%
• 1Y: 111.36%
• 3Y*: 26.77%
• 5Y*: 8.77%
• 10Y*: 10.23%

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

BFSA.DE vs. APAM.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFSA.DE Befesa SA	21.86%	45.62%	-39.64%	-20.24%	-31.56%	32.76%	38.78%	5.34%	-5.18%	26.69%
APAM.AS Aperam S.A.	53.88%	50.04%	-17.32%	19.08%	-34.40%	45.01%	28.27%	33.01%	-43.94%	-6.84%

Correlation

The correlation between BFSA.DE and APAM.AS is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.37

Return for Risk

BFSA.DE vs. APAM.AS — Risk / Return Rank

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

BFSA.DE

BFSA.DE Risk / Return Rank: 71
BFSA.DE Sharpe Ratio Rank: 73
BFSA.DE Sortino Ratio Rank: 69
BFSA.DE Omega Ratio Rank: 68
BFSA.DE Calmar Ratio Rank: 73
BFSA.DE Martin Ratio Rank: 75

APAM.AS

APAM.AS Risk / Return Rank: 91
APAM.AS Sharpe Ratio Rank: 93
APAM.AS Sortino Ratio Rank: 92
APAM.AS Omega Ratio Rank: 91
APAM.AS Calmar Ratio Rank: 89
APAM.AS Martin Ratio Rank: 91

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.

BFSA.DE vs. APAM.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Befesa SA (BFSA.DE) and Aperam S.A. (APAM.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.

	BFSA.DE	APAM.AS	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.69	-1.65
Sortino ratio: Return per unit of downside risk	1.67	3.49	-1.82
Omega ratio: Gain probability vs. loss probability	1.21	1.45	-0.24
Calmar ratio: Return relative to maximum drawdown	1.81	4.24	-2.43
Martin ratio: Return relative to average drawdown	4.85	13.78	-8.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFSA.DE vs. APAM.AS - Sharpe Ratio Comparison

The current BFSA.DE Sharpe Ratio is 1.04, which is lower than the APAM.AS Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of BFSA.DE and APAM.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

	BFSA.DE	APAM.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	2.69	-1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	0.24	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.21	-0.11

Drawdowns

BFSA.DE vs. APAM.AS - Drawdown Comparison

The maximum BFSA.DE drawdown since its inception was -73.77%, roughly equal to the maximum APAM.AS drawdown of -71.96%. Use the drawdown chart below to compare losses from any high point for BFSA.DE and APAM.AS.

Drawdown Indicators

	BFSA.DE	APAM.AS	Difference
Max Drawdown Largest peak-to-trough decline	-73.77%	-71.96%	-1.81%
Max Drawdown (1Y) Largest decline over 1 year	-18.53%	-25.80%	+7.27%
Max Drawdown (3Y) Largest decline over 3 years	-50.55%	-26.69%	-23.86%
Max Drawdown (5Y) Largest decline over 5 years	-73.77%	-54.69%	-19.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-63.43%	—
Current Drawdown Current decline from peak	-45.72%	0.00%	-45.72%
Average Drawdown Average peak-to-trough decline	-32.26%	-31.83%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.93%	7.99%	-1.06%

Volatility

BFSA.DE vs. APAM.AS - Volatility Comparison

The current volatility for Befesa SA (BFSA.DE) is 9.06%, while Aperam S.A. (APAM.AS) has a volatility of 9.90%. This indicates that BFSA.DE experiences smaller price fluctuations and is considered to be less risky than APAM.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFSA.DE	APAM.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.06%	9.90%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	25.16%	33.59%	-8.43%
Volatility (1Y) Calculated over the trailing 1-year period	32.47%	40.77%	-8.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.41%	35.60%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.27%	35.06%	+0.21%

Dividends

BFSA.DE vs. APAM.AS - Dividend Comparison

BFSA.DE's dividend yield for the trailing twelve months is around 1.78%, less than APAM.AS's 3.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
APAM.AS Aperam S.A.	3.77%	5.68%	7.93%	6.08%	6.78%	3.67%	5.13%	6.14%	6.66%	3.03%	2.48%
BFSA.DE Befesa SA	1.78%	2.17%	3.52%	2.07%	2.77%	1.74%	1.41%	3.47%	1.95%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both BFSA.DE and APAM.AS in my portfolio?

BFSA.DE and APAM.AS have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.