M&M.NS vs. BAJAJ-AUTO.NS

Last updated Jun 5, 2026

M&M.NS (Mahindra & Mahindra Limited) and BAJAJ-AUTO.NS (Bajaj Auto Limited) are both stocks. Both operate in the Auto Manufacturers industry within the Consumer Cyclical sector. Over the past 10 years, M&M.NS returned 16.84%/yr vs 17.67%/yr for BAJAJ-AUTO.NS. At a 0.36 correlation, their price movements are largely independent.

Performance

M&M.NS vs. BAJAJ-AUTO.NS - Performance Comparison

The chart below illustrates the hypothetical performance of a ₹10,000 investment in Mahindra & Mahindra Limited (M&M.NS) and Bajaj Auto Limited (BAJAJ-AUTO.NS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, M&M.NS achieves a -18.69% return, which is significantly lower than BAJAJ-AUTO.NS's 12.38% return. Both investments have delivered pretty close results over the past 10 years, with M&M.NS having a 16.84% annualized return and BAJAJ-AUTO.NS not far ahead at 17.67%.

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%

BAJAJ-AUTO.NS

• 1D: 1.16%
• 1M: -1.76%
• YTD: 12.38%
• 6M: 15.35%
• 1Y: 24.49%
• 3Y*: 33.44%
• 5Y*: 23.16%
• 10Y*: 17.67%

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

M&M.NS vs. BAJAJ-AUTO.NS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
BAJAJ-AUTO.NS Bajaj Auto Limited	12.38%	8.82%	30.23%	93.71%	15.79%	-2.09%	12.86%	19.31%	-16.54%	29.05%

Correlation

The correlation between M&M.NS and BAJAJ-AUTO.NS is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since May 27, 2008	0.36

The correlation between M&M.NS and BAJAJ-AUTO.NS shifts across timeframes, from 0.36 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

M&M.NS vs. BAJAJ-AUTO.NS — Risk / Return Rank

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

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

BAJAJ-AUTO.NS

BAJAJ-AUTO.NS Risk / Return Rank: 73
BAJAJ-AUTO.NS Sharpe Ratio Rank: 76
BAJAJ-AUTO.NS Sortino Ratio Rank: 72
BAJAJ-AUTO.NS Omega Ratio Rank: 67
BAJAJ-AUTO.NS Calmar Ratio Rank: 74
BAJAJ-AUTO.NS Martin Ratio Rank: 77

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.

M&M.NS vs. BAJAJ-AUTO.NS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mahindra & Mahindra Limited (M&M.NS) and Bajaj Auto Limited (BAJAJ-AUTO.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.

	M&M.NS	BAJAJ-AUTO.NS	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	1.18	-1.20
Sortino ratio: Return per unit of downside risk	0.17	1.81	-1.64
Omega ratio: Gain probability vs. loss probability	1.02	1.21	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.02	1.92	-1.94
Martin ratio: Return relative to average drawdown	-0.04	5.46	-5.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

M&M.NS vs. BAJAJ-AUTO.NS - Sharpe Ratio Comparison

The current M&M.NS Sharpe Ratio is -0.02, which is lower than the BAJAJ-AUTO.NS Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of M&M.NS and BAJAJ-AUTO.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

	M&M.NS	BAJAJ-AUTO.NS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.02	1.18	-1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.15	0.99	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.71	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.84	-0.65

Drawdowns

M&M.NS vs. BAJAJ-AUTO.NS - Drawdown Comparison

The maximum M&M.NS drawdown since its inception was -94.09%, which is greater than BAJAJ-AUTO.NS's maximum drawdown of -52.38%. Use the drawdown chart below to compare losses from any high point for M&M.NS and BAJAJ-AUTO.NS.

Drawdown Indicators

	M&M.NS	BAJAJ-AUTO.NS	Difference
Max Drawdown Largest peak-to-trough decline	-94.09%	-52.38%	-41.71%
Max Drawdown (1Y) Largest decline over 1 year	-22.91%	-13.63%	-9.28%
Max Drawdown (3Y) Largest decline over 3 years	-22.91%	-42.12%	+19.21%
Max Drawdown (5Y) Largest decline over 5 years	-28.09%	-42.12%	+14.03%
Max Drawdown (10Y) Largest decline over 10 years	-72.28%	-42.12%	-30.16%
Current Drawdown Current decline from peak	-20.68%	-14.83%	-5.85%
Average Drawdown Average peak-to-trough decline	-31.10%	-10.75%	-20.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.68%	5.05%	+4.63%

Volatility

M&M.NS vs. BAJAJ-AUTO.NS - Volatility Comparison

Mahindra & Mahindra Limited (M&M.NS) and Bajaj Auto Limited (BAJAJ-AUTO.NS) have volatilities of 6.92% and 7.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	M&M.NS	BAJAJ-AUTO.NS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.92%	7.00%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	21.45%	17.84%	+3.61%
Volatility (1Y) Calculated over the trailing 1-year period	26.75%	22.22%	+4.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.81%	23.87%	+3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.40%	25.43%	+4.97%

Dividends

M&M.NS vs. BAJAJ-AUTO.NS - Dividend Comparison

M&M.NS's dividend yield for the trailing twelve months is around 0.84%, less than BAJAJ-AUTO.NS's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAJAJ-AUTO.NS Bajaj Auto Limited	3.47%	2.25%	0.91%	2.05%	3.86%	4.31%	3.49%	1.89%	2.20%	1.65%	2.09%	1.97%
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 M&M.NS and BAJAJ-AUTO.NS in my portfolio?

M&M.NS and BAJAJ-AUTO.NS have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.