MT.AS vs. CS.PA

Last updated Jun 4, 2026

MT.AS (ArcelorMittal SA) and CS.PA (AXA SA) are both stocks. MT.AS operates in Steel (Basic Materials), while CS.PA operates in Insurance - Diversified (Financial Services). Over the past 10 years, MT.AS returned 17.18%/yr vs 12.05%/yr for CS.PA. At a 0.39 correlation, their price movements are largely independent.

Performance

MT.AS vs. CS.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in ArcelorMittal SA (MT.AS) and AXA SA (CS.PA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MT.AS achieves a 57.46% return, which is significantly higher than CS.PA's 1.00% return. Over the past 10 years, MT.AS has outperformed CS.PA with an annualized return of 17.18%, while CS.PA has yielded a comparatively lower 12.05% annualized return.

MT.AS

• 1D: -0.10%
• 1M: 29.04%
• YTD: 57.46%
• 6M: 68.17%
• 1Y: 134.50%
• 3Y*: 37.21%
• 5Y*: 19.60%
• 10Y*: 17.18%

CS.PA

• 1D: -1.89%
• 1M: 3.24%
• YTD: 1.00%
• 6M: 8.32%
• 1Y: -1.81%
• 3Y*: 19.29%
• 5Y*: 18.08%
• 10Y*: 12.05%

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

MT.AS vs. CS.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MT.AS ArcelorMittal SA	57.46%	77.04%	-10.92%	6.41%	-11.46%	50.26%	20.70%	-12.91%	-32.94%	28.82%
CS.PA AXA SA	1.00%	25.73%	23.53%	20.27%	6.13%	42.64%	-19.23%	41.12%	-19.51%	7.98%

Correlation

The correlation between MT.AS and CS.PA is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Aug 12, 1997	0.39

The correlation between MT.AS and CS.PA shifts across timeframes, from 0.21 (1 year) to 0.46 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

MT.AS vs. CS.PA — Risk / Return Rank

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

MT.AS

MT.AS Risk / Return Rank: 94
MT.AS Sharpe Ratio Rank: 95
MT.AS Sortino Ratio Rank: 94
MT.AS Omega Ratio Rank: 93
MT.AS Calmar Ratio Rank: 91
MT.AS Martin Ratio Rank: 94

CS.PA

CS.PA Risk / Return Rank: 34
CS.PA Sharpe Ratio Rank: 37
CS.PA Sortino Ratio Rank: 30
CS.PA Omega Ratio Rank: 30
CS.PA Calmar Ratio Rank: 36
CS.PA Martin Ratio Rank: 36

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.

MT.AS vs. CS.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ArcelorMittal SA (MT.AS) and AXA SA (CS.PA). 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.

	MT.AS	CS.PA	Difference
Sharpe ratio: Return per unit of total volatility	3.33	-0.09	+3.42
Sortino ratio: Return per unit of downside risk	3.99	0.01	+3.97
Omega ratio: Gain probability vs. loss probability	1.50	1.00	+0.50
Calmar ratio: Return relative to maximum drawdown	5.05	-0.13	+5.18
Martin ratio: Return relative to average drawdown	17.78	-0.22	+18.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MT.AS vs. CS.PA - Sharpe Ratio Comparison

The current MT.AS Sharpe Ratio is 3.33, which is higher than the CS.PA Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of MT.AS and CS.PA, 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

	MT.AS	CS.PA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	-0.09	+3.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.84	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.48	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.28	-0.24

Drawdowns

MT.AS vs. CS.PA - Drawdown Comparison

The maximum MT.AS drawdown since its inception was -96.62%, which is greater than CS.PA's maximum drawdown of -82.46%. Use the drawdown chart below to compare losses from any high point for MT.AS and CS.PA.

Drawdown Indicators

	MT.AS	CS.PA	Difference
Max Drawdown Largest peak-to-trough decline	-96.62%	-82.46%	-14.16%
Max Drawdown (1Y) Largest decline over 1 year	-26.19%	-13.69%	-12.50%
Max Drawdown (3Y) Largest decline over 3 years	-31.92%	-13.69%	-18.23%
Max Drawdown (5Y) Largest decline over 5 years	-39.64%	-24.39%	-15.25%
Max Drawdown (10Y) Largest decline over 10 years	-78.69%	-51.00%	-27.69%
Current Drawdown Current decline from peak	-45.72%	-4.68%	-41.04%
Average Drawdown Average peak-to-trough decline	-65.90%	-23.76%	-42.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.48%	7.99%	-0.51%

Volatility

MT.AS vs. CS.PA - Volatility Comparison

ArcelorMittal SA (MT.AS) has a higher volatility of 14.16% compared to AXA SA (CS.PA) at 6.35%. This indicates that MT.AS's price experiences larger fluctuations and is considered to be riskier than CS.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MT.AS	CS.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.16%	6.35%	+7.81%
Volatility (6M) Calculated over the trailing 6-month period	33.38%	13.87%	+19.51%
Volatility (1Y) Calculated over the trailing 1-year period	39.75%	19.93%	+19.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.15%	21.25%	+15.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.03%	24.92%	+17.11%

Dividends

MT.AS vs. CS.PA - Dividend Comparison

MT.AS's dividend yield for the trailing twelve months is around 0.80%, less than CS.PA's 5.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CS.PA AXA SA	5.94%	5.25%	5.77%	5.76%	5.91%	5.46%	3.74%	5.34%	6.68%	4.69%	4.59%	3.77%
MT.AS ArcelorMittal SA	0.80%	1.24%	2.07%	1.58%	1.47%	0.74%	0.00%	0.97%	0.39%	0.00%	0.00%	3.86%

Financials

Frequently Asked Questions

Can I hold both MT.AS and CS.PA in my portfolio?

MT.AS and CS.PA have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.