BP vs. PAA
BP (BP p.l.c.) and PAA (Plains All American Pipeline, L.P.) are both stocks. Both are in the Energy sector — BP in Oil & Gas Integrated, PAA in Oil & Gas Midstream. Over the past 10 years, BP returned 9.35%/yr vs 5.97%/yr for PAA. At a 0.39 correlation, their price movements are largely independent.
Performance
BP vs. PAA - Performance Comparison
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Returns By Period
In the year-to-date period, BP achieves a 26.20% return, which is significantly lower than PAA's 30.01% return. Over the past 10 years, BP has outperformed PAA with an annualized return of 9.35%, while PAA has yielded a comparatively lower 5.97% annualized return.
BP
- 1D
- 0.23%
- 1M
- -1.97%
- YTD
- 26.20%
- 6M
- 24.31%
- 1Y
- 45.82%
- 3Y*
- 12.73%
- 5Y*
- 14.80%
- 10Y*
- 9.35%
PAA
- 1D
- -0.18%
- 1M
- 2.51%
- YTD
- 30.01%
- 6M
- 31.47%
- 1Y
- 36.35%
- 3Y*
- 28.99%
- 5Y*
- 22.23%
- 10Y*
- 5.97%
BP vs. PAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BP BP p.l.c. | 26.20% | 24.54% | -11.84% | 6.00% | 37.01% | 36.38% | -41.31% | 5.83% | -4.57% | 20.02% |
PAA Plains All American Pipeline, L.P. | 30.01% | 14.30% | 21.38% | 39.18% | 35.79% | 22.24% | -50.79% | -2.28% | 2.31% | -31.34% |
Correlation
The correlation between BP and PAA 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 | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 1998 | 0.39 |
The correlation between BP and PAA shifts across timeframes, from 0.39 (all time) to 0.56 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
BP:
$111.67B
PAA:
$15.84B
BP:
$1.23
PAA:
$2.19
BP:
34.87
PAA:
10.24
BP:
3.41
PAA:
0.19
BP:
0.57
PAA:
0.35
BP:
2.00
PAA:
1.24
BP:
$194.60B
PAA:
$45.25B
BP:
$37.65B
PAA:
$1.55B
BP:
$35.67B
PAA:
$2.54B
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Return for Risk
BP vs. PAA — Risk / Return Rank
BP
PAA
BP vs. PAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BP p.l.c. (BP) and Plains All American Pipeline, L.P. (PAA). 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.
| BP | PAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.33 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.94 | 2.51 | +1.43 |
| Martin ratioReturn relative to average drawdown | 10.91 | 7.17 | +3.74 |
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Drawdowns
BP vs. PAA - Drawdown Comparison
The maximum BP drawdown since its inception was -74.94%, smaller than the maximum PAA drawdown of -91.99%. Use the drawdown chart below to compare losses from any high point for BP and PAA.
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Drawdown Indicators
| BP | PAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.94% | -91.99% | +17.05% |
Max Drawdown (1Y)Largest decline over 1 year | -11.68% | -14.53% | +2.85% |
Max Drawdown (3Y)Largest decline over 3 years | -30.63% | -22.26% | -8.37% |
Max Drawdown (5Y)Largest decline over 5 years | -30.63% | -26.11% | -4.52% |
Max Drawdown (10Y)Largest decline over 10 years | -63.91% | -87.92% | +24.01% |
Current DrawdownCurrent decline from peak | -9.15% | -10.03% | +0.88% |
Average DrawdownAverage peak-to-trough decline | -25.26% | -25.75% | +0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.21% | 5.08% | -0.87% |
Volatility
BP vs. PAA - Volatility Comparison
BP p.l.c. (BP) has a higher volatility of 8.25% compared to Plains All American Pipeline, L.P. (PAA) at 7.32%. This indicates that BP's price experiences larger fluctuations and is considered to be riskier than PAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BP | PAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.25% | 7.32% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 22.05% | 14.09% | +7.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.83% | 18.47% | +8.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.62% | 26.81% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.27% | 41.82% | -10.55% |
Dividends
BP vs. PAA - Dividend Comparison
BP's dividend yield for the trailing twelve months is around 4.67%, less than PAA's 7.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BP BP p.l.c. | 4.67% | 5.64% | 6.20% | 4.71% | 3.94% | 4.83% | 9.21% | 6.52% | 6.41% | 5.66% | 6.37% | 7.63% |
PAA Plains All American Pipeline, L.P. | 7.11% | 8.46% | 7.44% | 7.06% | 7.08% | 7.71% | 10.92% | 7.50% | 5.99% | 9.45% | 8.21% | 11.93% |
Financials
BP vs. PAA - Financials Comparison
This section allows you to compare key financial metrics between BP p.l.c. and Plains All American Pipeline, L.P.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BP vs. PAA - Profitability Comparison
BP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BP p.l.c. reported a gross profit of 12.56B and revenue of 52.17B. Therefore, the gross margin over that period was 24.1%.
PAA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Plains All American Pipeline, L.P. reported a gross profit of 0.00 and revenue of 12.47B. Therefore, the gross margin over that period was 0.0%.
BP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BP p.l.c. reported an operating income of 9.20B and revenue of 52.17B, resulting in an operating margin of 17.6%.
PAA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Plains All American Pipeline, L.P. reported an operating income of 405.00M and revenue of 12.47B, resulting in an operating margin of 3.3%.
BP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BP p.l.c. reported a net income of 3.84B and revenue of 52.17B, resulting in a net margin of 7.4%.
PAA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Plains All American Pipeline, L.P. reported a net income of 551.00M and revenue of 12.47B, resulting in a net margin of 4.4%.
Frequently Asked Questions
BP and PAA 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.
BP has higher volatility (8.25%) compared to PAA (7.32%). In terms of maximum drawdown, BP dropped -74.94% vs PAA's -91.99%.
PAA currently has the higher Sharpe Ratio (1.98 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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