BN.PA vs. ^FCHI

Last updated Jul 21, 2026

BN.PA (Danone S.A.) is a stock, while ^FCHI (CAC 40) is an index. Over the past 10 years, BN.PA returned 4.39%/yr vs 6.77%/yr for ^FCHI. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

BN.PA vs. ^FCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Danone S.A. (BN.PA) and CAC 40 (^FCHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BN.PA achieves a -1.42% return, which is significantly lower than ^FCHI's 2.32% return. Over the past 10 years, BN.PA has underperformed ^FCHI with an annualized return of 4.39%, while ^FCHI has yielded a comparatively higher 6.77% annualized return.

BN.PA

• 1D: 0.22%
• 1M: 12.42%
• 6M: 2.23%
• YTD: -1.42%
• 1Y: 11.21%
• 3Y*: 12.57%
• 5Y*: 7.96%
• 10Y*: 4.39%
• ALL TIME*: 5.06%

^FCHI

• 1D: -0.47%
• 1M: -0.98%
• 6M: 2.80%
• YTD: 2.32%
• 1Y: 6.60%
• 3Y*: 4.44%
• 5Y*: 5.24%
• 10Y*: 6.77%
• ALL TIME*: 4.25%

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

BN.PA vs. ^FCHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BN.PA Danone S.A.	-1.42%	21.29%	15.04%	23.27%	-6.58%	4.99%	-24.68%	23.45%	-9.49%	19.29%
^FCHI CAC 40	2.32%	10.42%	-2.15%	16.52%	-9.50%	28.85%	-7.14%	26.37%	-10.95%	9.26%

Correlation

The correlation between BN.PA and ^FCHI is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 9, 2007	0.54

Over the past year, the correlation between BN.PA and ^FCHI has dropped to 0.22 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

BN.PA vs. ^FCHI — Risk / Return Rank

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

BN.PA

BN.PA Risk / Return Rank: 58
BN.PA Sharpe Ratio Rank: 62
BN.PA Sortino Ratio Rank: 56
BN.PA Omega Ratio Rank: 56
BN.PA Calmar Ratio Rank: 58
BN.PA Martin Ratio Rank: 59

^FCHI

^FCHI Risk / Return Rank: 21
^FCHI Sharpe Ratio Rank: 23
^FCHI Sortino Ratio Rank: 19
^FCHI Omega Ratio Rank: 19
^FCHI Calmar Ratio Rank: 22
^FCHI Martin Ratio Rank: 24

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.

BN.PA vs. ^FCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Danone S.A. (BN.PA) and CAC 40 (^FCHI). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BN.PA	^FCHI	Difference
Sharpe ratio: Return per unit of total volatility	0.48	0.46	+0.02
Sortino ratio: Return per unit of downside risk	0.87	0.76	+0.11
Omega ratio: Gain probability vs. loss probability	1.11	1.09	+0.02
Calmar ratio: Return relative to maximum drawdown	0.53	0.59	-0.06
Martin ratio: Return relative to average drawdown	1.13	1.69	-0.56

BN.PA vs. ^FCHI - Sharpe Ratio Comparison

The current BN.PA Sharpe Ratio is 0.48, which is comparable to the ^FCHI Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of BN.PA and ^FCHI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BN.PA vs. ^FCHI - Drawdown Comparison

The maximum BN.PA drawdown since its inception was -46.04%, smaller than the maximum ^FCHI drawdown of -65.29%. Use the drawdown chart below to compare losses from any high point for BN.PA and ^FCHI.

Drawdown Indicators

	BN.PA	^FCHI	Difference
Max Drawdown Largest peak-to-trough decline	-46.04%	-65.29%	+19.25%
Max Drawdown (1Y) Largest decline over 1 year	-20.77%	-11.08%	-9.69%
Max Drawdown (3Y) Largest decline over 3 years	-20.77%	-16.71%	-4.06%
Max Drawdown (5Y) Largest decline over 5 years	-26.95%	-23.04%	-3.91%
Max Drawdown (10Y) Largest decline over 10 years	-40.87%	-38.56%	-2.31%
Current Drawdown Current decline from peak	-4.91%	-3.27%	-1.64%
Average Drawdown Average peak-to-trough decline	-13.46%	-24.39%	+10.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.88%	3.89%	+5.99%

Volatility

BN.PA vs. ^FCHI - Volatility Comparison

Danone S.A. (BN.PA) has a higher volatility of 6.14% compared to CAC 40 (^FCHI) at 3.51%. This indicates that BN.PA's price experiences larger fluctuations and is considered to be riskier than ^FCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BN.PA	^FCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	3.51%	+2.63%
Volatility (6M) Calculated over the trailing 6-month period	19.32%	11.50%	+7.82%
Volatility (1Y) Calculated over the trailing 1-year period	23.19%	14.23%	+8.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.73%	16.40%	+2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.23%	17.39%	+1.84%

Frequently Asked Questions

Can I hold both BN.PA and ^FCHI in my portfolio?

BN.PA and ^FCHI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.