MP vs. BHP

Last updated Jun 4, 2026

MP (MP Materials Corp.) and BHP (BHP Group) are both stocks. Both operate in the Other Industrial Metals & Mining industry within the Basic Materials sector. Over the past 5 years, MP returned 16.72%/yr vs 16.19%/yr for BHP. At a 0.35 correlation, their price movements are largely independent.

Performance

MP vs. BHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MP Materials Corp. (MP) and BHP Group (BHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MP achieves a 35.69% return, which is significantly lower than BHP's 53.45% return.

MP

• 1D: -5.11%
• 1M: 3.55%
• YTD: 35.69%
• 6M: 16.76%
• 1Y: 211.59%
• 3Y*: 45.90%
• 5Y*: 16.72%
• 10Y*: —

BHP

• 1D: -2.47%
• 1M: 16.67%
• YTD: 53.45%
• 6M: 59.94%
• 1Y: 94.82%
• 3Y*: 21.26%
• 5Y*: 16.19%
• 10Y*: 22.46%

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

MP vs. BHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MP MP Materials Corp.	35.69%	223.85%	-21.41%	-18.25%	-46.54%	41.19%	221.70%
BHP BHP Group	53.45%	28.91%	-24.64%	16.50%	44.34%	0.91%	35.70%

Correlation

The correlation between MP and BHP is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 23, 2020	0.35

The correlation between MP and BHP shifts across timeframes, from 0.28 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS MP : -$0.53 BHP : $8.51
PS Ratio MP : 30.21 BHP : 2.15
Total Revenue (TTM) MP : $305.30M BHP : $107.64B
Gross Profit (TTM) MP : $25.30M BHP : $89.04B
EBITDA (TTM) MP : $1.52M BHP : $52.23B

Return for Risk

MP vs. BHP — Risk / Return Rank

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

MP

MP Risk / Return Rank: 86
MP Sharpe Ratio Rank: 90
MP Sortino Ratio Rank: 89
MP Omega Ratio Rank: 85
MP Calmar Ratio Rank: 87
MP Martin Ratio Rank: 80

BHP

BHP Risk / Return Rank: 92
BHP Sharpe Ratio Rank: 94
BHP Sortino Ratio Rank: 93
BHP Omega Ratio Rank: 91
BHP Calmar Ratio Rank: 90
BHP Martin Ratio Rank: 94

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.

MP vs. BHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MP Materials Corp. (MP) and BHP Group (BHP). 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.

	MP	BHP	Difference
Sharpe ratio: Return per unit of total volatility	2.27	3.10	-0.82
Sortino ratio: Return per unit of downside risk	3.17	3.67	-0.50
Omega ratio: Gain probability vs. loss probability	1.36	1.46	-0.09
Calmar ratio: Return relative to maximum drawdown	3.96	4.82	-0.86
Martin ratio: Return relative to average drawdown	6.77	17.99	-11.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MP vs. BHP - Sharpe Ratio Comparison

The current MP Sharpe Ratio is 2.27, which is comparable to the BHP Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of MP and BHP, 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

	MP	BHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	3.10	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.51	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.33	+0.20

Drawdowns

MP vs. BHP - Drawdown Comparison

The maximum MP drawdown since its inception was -81.99%, which is greater than BHP's maximum drawdown of -76.22%. Use the drawdown chart below to compare losses from any high point for MP and BHP.

Drawdown Indicators

	MP	BHP	Difference
Max Drawdown Largest peak-to-trough decline	-81.99%	-76.22%	-5.77%
Max Drawdown (1Y) Largest decline over 1 year	-53.79%	-19.80%	-33.99%
Max Drawdown (3Y) Largest decline over 3 years	-59.47%	-37.21%	-22.26%
Max Drawdown (5Y) Largest decline over 5 years	-81.99%	-37.21%	-44.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.29%	—
Current Drawdown Current decline from peak	-30.51%	-2.47%	-28.04%
Average Drawdown Average peak-to-trough decline	-42.63%	-21.29%	-21.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.40%	5.29%	+26.11%

Volatility

MP vs. BHP - Volatility Comparison

MP Materials Corp. (MP) has a higher volatility of 21.38% compared to BHP Group (BHP) at 11.83%. This indicates that MP's price experiences larger fluctuations and is considered to be riskier than BHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MP	BHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.38%	11.83%	+9.55%
Volatility (6M) Calculated over the trailing 6-month period	50.40%	24.92%	+25.48%
Volatility (1Y) Calculated over the trailing 1-year period	93.94%	30.84%	+63.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.57%	32.16%	+37.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.60%	32.32%	+40.28%

Dividends

MP vs. BHP - Dividend Comparison

MP has not paid dividends to shareholders, while BHP's dividend yield for the trailing twelve months is around 2.93%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BHP BHP Group	2.93%	3.64%	5.98%	4.98%	22.44%	9.98%	3.67%	8.59%	4.89%	3.61%	1.68%	9.38%
MP MP Materials Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

MP vs. BHP - Profitability Comparison

The chart below illustrates the profitability comparison between MP Materials Corp. and BHP Group over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MP Materials Corp. reported a gross profit of 0.00 and revenue of 90.65M. Therefore, the gross margin over that period was 0.0%.

BHP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BHP Group reported a gross profit of 11.98B and revenue of 27.95B. Therefore, the gross margin over that period was 42.9%.

MP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MP Materials Corp. reported an operating income of 0.00 and revenue of 90.65M, resulting in an operating margin of 0.0%.

BHP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BHP Group reported an operating income of 11.98B and revenue of 27.95B, resulting in an operating margin of 42.9%.

MP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MP Materials Corp. reported a net income of -7.97M and revenue of 90.65M, resulting in a net margin of -8.8%.

BHP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BHP Group reported a net income of 5.65B and revenue of 27.95B, resulting in a net margin of 20.2%.

Frequently Asked Questions

Can I hold both MP and BHP in my portfolio?

MP and BHP have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MP or BHP?

MP has higher volatility (21.38%) compared to BHP (11.83%). In terms of maximum drawdown, MP dropped -81.99% vs BHP's -76.22%.

Which has better risk-adjusted returns?

BHP currently has the higher Sharpe Ratio (3.10 vs 2.27), 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.