BPE.MI vs. ENEL.MI

Last updated Jun 5, 2026

BPE.MI (BPER Banca SpA) and ENEL.MI (Enel SpA) are both stocks. BPE.MI operates in Banks - Regional (Financial Services), while ENEL.MI operates in Utilities - Diversified (Utilities). Over the past 10 years, BPE.MI returned 19.56%/yr vs 14.44%/yr for ENEL.MI. At a 0.36 correlation, their price movements are largely independent.

Performance

BPE.MI vs. ENEL.MI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BPER Banca SpA (BPE.MI) and Enel SpA (ENEL.MI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPE.MI achieves a 5.46% return, which is significantly lower than ENEL.MI's 10.47% return. Over the past 10 years, BPE.MI has outperformed ENEL.MI with an annualized return of 19.56%, while ENEL.MI has yielded a comparatively lower 14.44% annualized return.

BPE.MI

• 1D: 1.57%
• 1M: -6.89%
• YTD: 5.46%
• 6M: 17.85%
• 1Y: 57.50%
• 3Y*: 78.43%
• 5Y*: 50.03%
• 10Y*: 19.56%

ENEL.MI

• 1D: 0.92%
• 1M: -2.83%
• YTD: 10.47%
• 6M: 11.78%
• 1Y: 26.46%
• 3Y*: 24.29%
• 5Y*: 10.49%
• 10Y*: 14.44%

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

BPE.MI vs. ENEL.MI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPE.MI BPER Banca SpA	5.46%	106.79%	114.89%	65.06%	8.98%	25.27%	-49.58%	37.79%	-18.17%	-15.72%
ENEL.MI Enel SpA	10.47%	37.33%	9.21%	43.23%	-23.69%	-11.12%	21.93%	47.28%	0.56%	25.73%

Correlation

The correlation between BPE.MI and ENEL.MI is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Nov 3, 1999	0.36

The correlation between BPE.MI and ENEL.MI shifts across timeframes, from 0.21 (3 years) to 0.36 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BPE.MI vs. ENEL.MI — Risk / Return Rank

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

BPE.MI

BPE.MI Risk / Return Rank: 86
BPE.MI Sharpe Ratio Rank: 88
BPE.MI Sortino Ratio Rank: 85
BPE.MI Omega Ratio Rank: 82
BPE.MI Calmar Ratio Rank: 84
BPE.MI Martin Ratio Rank: 89

ENEL.MI

ENEL.MI Risk / Return Rank: 77
ENEL.MI Sharpe Ratio Rank: 79
ENEL.MI Sortino Ratio Rank: 73
ENEL.MI Omega Ratio Rank: 74
ENEL.MI Calmar Ratio Rank: 78
ENEL.MI Martin Ratio Rank: 81

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.

BPE.MI vs. ENEL.MI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BPER Banca SpA (BPE.MI) and Enel SpA (ENEL.MI). 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.

	BPE.MI	ENEL.MI	Difference
Sharpe ratio: Return per unit of total volatility	2.04	1.33	+0.71
Sortino ratio: Return per unit of downside risk	2.69	1.89	+0.79
Omega ratio: Gain probability vs. loss probability	1.33	1.25	+0.07
Calmar ratio: Return relative to maximum drawdown	3.38	2.30	+1.08
Martin ratio: Return relative to average drawdown	11.01	6.96	+4.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPE.MI vs. ENEL.MI - Sharpe Ratio Comparison

The current BPE.MI Sharpe Ratio is 2.04, which is higher than the ENEL.MI Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of BPE.MI and ENEL.MI, 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

	BPE.MI	ENEL.MI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	1.33	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.38	0.49	+0.88
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.63	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	0.30	-0.78

Drawdowns

BPE.MI vs. ENEL.MI - Drawdown Comparison

The maximum BPE.MI drawdown since its inception was -99.99%, which is greater than ENEL.MI's maximum drawdown of -58.83%. Use the drawdown chart below to compare losses from any high point for BPE.MI and ENEL.MI.

Drawdown Indicators

	BPE.MI	ENEL.MI	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-58.83%	-41.16%
Max Drawdown (1Y) Largest decline over 1 year	-18.08%	-11.06%	-7.02%
Max Drawdown (3Y) Largest decline over 3 years	-24.65%	-13.49%	-11.16%
Max Drawdown (5Y) Largest decline over 5 years	-38.40%	-47.05%	+8.65%
Max Drawdown (10Y) Largest decline over 10 years	-71.10%	-50.08%	-21.02%
Current Drawdown Current decline from peak	-99.88%	-6.15%	-93.73%
Average Drawdown Average peak-to-trough decline	-98.27%	-16.50%	-81.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.55%	3.66%	+1.89%

Volatility

BPE.MI vs. ENEL.MI - Volatility Comparison

BPER Banca SpA (BPE.MI) has a higher volatility of 8.13% compared to Enel SpA (ENEL.MI) at 5.95%. This indicates that BPE.MI's price experiences larger fluctuations and is considered to be riskier than ENEL.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPE.MI	ENEL.MI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	5.95%	+2.18%
Volatility (6M) Calculated over the trailing 6-month period	21.99%	17.22%	+4.77%
Volatility (1Y) Calculated over the trailing 1-year period	29.99%	19.19%	+10.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.99%	21.07%	+14.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.74%	22.80%	+18.94%

Dividends

BPE.MI vs. ENEL.MI - Dividend Comparison

BPE.MI's dividend yield for the trailing twelve months is around 5.65%, more than ENEL.MI's 5.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPE.MI BPER Banca SpA	5.65%	6.03%	4.89%	3.97%	3.13%	2.19%	2.69%	2.90%	3.27%	1.43%	1.98%	0.28%
ENEL.MI Enel SpA	5.07%	5.29%	6.24%	5.94%	7.55%	5.08%	3.96%	3.96%	2.36%	2.14%	1.91%	2.31%

Financials

Frequently Asked Questions

Can I hold both BPE.MI and ENEL.MI in my portfolio?

BPE.MI and ENEL.MI have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.