COFORGE.NS vs. M&M.NS

Last updated Jun 5, 2026

COFORGE.NS (Coforge Limited) and M&M.NS (Mahindra & Mahindra Limited) are both stocks. COFORGE.NS operates in Information Technology Services (Technology), while M&M.NS operates in Auto Manufacturers (Consumer Cyclical). Over the past 10 years, COFORGE.NS returned 30.50%/yr vs 16.84%/yr for M&M.NS. At a 0.18 correlation, their price movements are largely independent.

Performance

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

The chart below illustrates the hypothetical performance of a ₹10,000 investment in Coforge Limited (COFORGE.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, COFORGE.NS achieves a -13.51% return, which is significantly higher than M&M.NS's -18.69% return. Over the past 10 years, COFORGE.NS has outperformed M&M.NS with an annualized return of 30.50%, while M&M.NS has yielded a comparatively lower 16.84% annualized return.

COFORGE.NS

• 1D: 1.20%
• 1M: 22.99%
• YTD: -13.51%
• 6M: -26.78%
• 1Y: -16.08%
• 3Y*: 16.32%
• 5Y*: 14.50%
• 10Y*: 30.50%

M&M.NS

• 1D: 0.17%
• 1M: -6.06%
• YTD: -18.69%
• 6M: -17.85%
• 1Y: -0.43%
• 3Y*: 30.41%
• 5Y*: 31.48%
• 10Y*: 16.84%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COFORGE.NS Coforge Limited	-13.51%	-13.61%	54.02%	62.23%	-34.00%	117.41%	70.13%	38.18%	77.79%	49.66%
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 COFORGE.NS and M&M.NS is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Aug 31, 2004	0.18

Return for Risk

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

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

COFORGE.NS

COFORGE.NS Risk / Return Rank: 24
COFORGE.NS Sharpe Ratio Rank: 22
COFORGE.NS Sortino Ratio Rank: 22
COFORGE.NS Omega Ratio Rank: 22
COFORGE.NS Calmar Ratio Rank: 30
COFORGE.NS Martin Ratio Rank: 28

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.

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

This table presents a comparison of risk-adjusted performance metrics for Coforge Limited (COFORGE.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.

	COFORGE.NS	M&M.NS	Difference
Sharpe ratio: Return per unit of total volatility	-0.45	-0.02	-0.43
Sortino ratio: Return per unit of downside risk	-0.42	0.17	-0.59
Omega ratio: Gain probability vs. loss probability	0.95	1.02	-0.07
Calmar ratio: Return relative to maximum drawdown	-0.36	-0.02	-0.34
Martin ratio: Return relative to average drawdown	-0.74	-0.04	-0.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current COFORGE.NS Sharpe Ratio is -0.45, which is lower than the M&M.NS Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of COFORGE.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

	COFORGE.NS	M&M.NS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.45	-0.02	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	1.15	-0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.57	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.19	+0.26

Drawdowns

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

The maximum COFORGE.NS drawdown since its inception was -89.46%, roughly equal to the maximum M&M.NS drawdown of -94.09%. Use the drawdown chart below to compare losses from any high point for COFORGE.NS and M&M.NS.

Drawdown Indicators

	COFORGE.NS	M&M.NS	Difference
Max Drawdown Largest peak-to-trough decline	-89.46%	-94.09%	+4.63%
Max Drawdown (1Y) Largest decline over 1 year	-45.27%	-22.91%	-22.36%
Max Drawdown (3Y) Largest decline over 3 years	-45.27%	-22.91%	-22.36%
Max Drawdown (5Y) Largest decline over 5 years	-47.24%	-28.09%	-19.15%
Max Drawdown (10Y) Largest decline over 10 years	-57.86%	-72.28%	+14.42%
Current Drawdown Current decline from peak	-27.02%	-20.68%	-6.34%
Average Drawdown Average peak-to-trough decline	-26.61%	-31.10%	+4.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.82%	9.68%	+12.14%

Volatility

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

Coforge Limited (COFORGE.NS) has a higher volatility of 15.95% compared to Mahindra & Mahindra Limited (M&M.NS) at 6.92%. This indicates that COFORGE.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

	COFORGE.NS	M&M.NS	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.95%	6.92%	+9.03%
Volatility (6M) Calculated over the trailing 6-month period	29.07%	21.45%	+7.62%
Volatility (1Y) Calculated over the trailing 1-year period	36.46%	26.75%	+9.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.17%	27.81%	+8.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.58%	30.40%	+10.18%

Dividends

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

COFORGE.NS's dividend yield for the trailing twelve months is around 0.84%, which matches M&M.NS's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COFORGE.NS Coforge Limited	0.84%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 COFORGE.NS and M&M.NS in my portfolio?

COFORGE.NS and M&M.NS have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.