BPCL.NS vs. M&M.NS

Last updated Jun 5, 2026

BPCL.NS (Bharat Petroleum Corporation Limited) and M&M.NS (Mahindra & Mahindra Limited) are both stocks. BPCL.NS operates in Oil & Gas Refining & Marketing (Energy), while M&M.NS operates in Auto Manufacturers (Consumer Cyclical). Over the past 10 years, BPCL.NS returned 12.47%/yr vs 16.84%/yr for M&M.NS. At a 0.25 correlation, their price movements are largely independent.

Performance

BPCL.NS vs. M&M.NS - Performance Comparison

The chart below illustrates the hypothetical performance of a ₹10,000 investment in Bharat Petroleum Corporation Limited (BPCL.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, BPCL.NS achieves a -20.83% return, which is significantly lower than M&M.NS's -18.69% return. Over the past 10 years, BPCL.NS has underperformed M&M.NS with an annualized return of 12.47%, while M&M.NS has yielded a comparatively higher 16.84% annualized return.

BPCL.NS

• 1D: 1.04%
• 1M: -2.51%
• YTD: -20.83%
• 6M: -15.78%
• 1Y: -0.48%
• 3Y*: 25.22%
• 5Y*: 11.63%
• 10Y*: 12.47%

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)

BPCL.NS vs. M&M.NS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPCL.NS Bharat Petroleum Corporation Limited	-20.83%	38.70%	33.68%	44.27%	-11.45%	21.92%	-18.16%	43.26%	-26.17%	28.43%
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 BPCL.NS and M&M.NS is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jan 2, 1996	0.25

Return for Risk

BPCL.NS vs. M&M.NS — Risk / Return Rank

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

BPCL.NS

BPCL.NS Risk / Return Rank: 40
BPCL.NS Sharpe Ratio Rank: 43
BPCL.NS Sortino Ratio Rank: 37
BPCL.NS Omega Ratio Rank: 36
BPCL.NS Calmar Ratio Rank: 42
BPCL.NS Martin Ratio Rank: 42

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.

BPCL.NS vs. M&M.NS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bharat Petroleum Corporation Limited (BPCL.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.

	BPCL.NS	M&M.NS	Difference
Sharpe ratio: Return per unit of total volatility	0.03	-0.02	+0.05
Sortino ratio: Return per unit of downside risk	0.27	0.17	+0.10
Omega ratio: Gain probability vs. loss probability	1.03	1.02	+0.01
Calmar ratio: Return relative to maximum drawdown	0.03	-0.02	+0.05
Martin ratio: Return relative to average drawdown	0.08	-0.04	+0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPCL.NS vs. M&M.NS - Sharpe Ratio Comparison

The current BPCL.NS Sharpe Ratio is 0.03, which is higher than the M&M.NS Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of BPCL.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

	BPCL.NS	M&M.NS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.03	-0.02	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	1.15	-0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.57	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.19	+0.14

Drawdowns

BPCL.NS vs. M&M.NS - Drawdown Comparison

The maximum BPCL.NS drawdown since its inception was -71.21%, smaller than the maximum M&M.NS drawdown of -94.09%. Use the drawdown chart below to compare losses from any high point for BPCL.NS and M&M.NS.

Drawdown Indicators

	BPCL.NS	M&M.NS	Difference
Max Drawdown Largest peak-to-trough decline	-71.21%	-94.09%	+22.88%
Max Drawdown (1Y) Largest decline over 1 year	-30.13%	-22.91%	-7.22%
Max Drawdown (3Y) Largest decline over 3 years	-34.32%	-22.91%	-11.41%
Max Drawdown (5Y) Largest decline over 5 years	-34.36%	-28.09%	-6.27%
Max Drawdown (10Y) Largest decline over 10 years	-50.37%	-72.28%	+21.91%
Current Drawdown Current decline from peak	-23.99%	-20.68%	-3.31%
Average Drawdown Average peak-to-trough decline	-20.36%	-31.10%	+10.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.07%	9.68%	+2.39%

Volatility

BPCL.NS vs. M&M.NS - Volatility Comparison

Bharat Petroleum Corporation Limited (BPCL.NS) has a higher volatility of 10.90% compared to Mahindra & Mahindra Limited (M&M.NS) at 6.92%. This indicates that BPCL.NS's price experiences larger fluctuations and is considered to be riskier than M&M.NS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPCL.NS	M&M.NS	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.90%	6.92%	+3.98%
Volatility (6M) Calculated over the trailing 6-month period	24.10%	21.45%	+2.65%
Volatility (1Y) Calculated over the trailing 1-year period	29.50%	26.75%	+2.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.19%	27.81%	+0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.16%	30.40%	+2.76%

Dividends

BPCL.NS vs. M&M.NS - Dividend Comparison

BPCL.NS's dividend yield for the trailing twelve months is around 7.62%, more than M&M.NS's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPCL.NS Bharat Petroleum Corporation Limited	7.62%	4.56%	3.59%	5.54%	3.32%	21.79%	4.32%	3.87%	5.79%	4.19%	2.44%	2.52%
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 BPCL.NS and M&M.NS in my portfolio?

BPCL.NS and M&M.NS have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.