OIL.NS vs. M&M.NS

Last updated Jun 5, 2026

OIL.NS (Oil India Limited) and M&M.NS (Mahindra & Mahindra Limited) are both stocks. OIL.NS operates in Oil & Gas E&P (Energy), while M&M.NS operates in Auto Manufacturers (Consumer Cyclical). Over the past 10 years, OIL.NS returned 21.60%/yr vs 16.84%/yr for M&M.NS. At a 0.18 correlation, their price movements are largely independent.

Performance

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

The chart below illustrates the hypothetical performance of a ₹10,000 investment in Oil India Limited (OIL.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, OIL.NS achieves a 16.97% return, which is significantly higher than M&M.NS's -18.69% return. Over the past 10 years, OIL.NS has outperformed M&M.NS with an annualized return of 21.60%, while M&M.NS has yielded a comparatively lower 16.84% annualized return.

OIL.NS

• 1D: -0.42%
• 1M: 7.64%
• YTD: 16.97%
• 6M: 20.49%
• 1Y: 18.33%
• 3Y*: 47.26%
• 5Y*: 45.84%
• 10Y*: 21.60%

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%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OIL.NS Oil India Limited	16.97%	1.47%	78.03%	91.84%	12.76%	95.46%	-23.68%	-7.04%	-26.22%	14.34%
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 OIL.NS and M&M.NS is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Oct 1, 2009	0.18

The correlation between OIL.NS and M&M.NS shifts across timeframes, from -0.06 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

Return for Risk

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

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

OIL.NS

OIL.NS Risk / Return Rank: 59
OIL.NS Sharpe Ratio Rank: 61
OIL.NS Sortino Ratio Rank: 57
OIL.NS Omega Ratio Rank: 55
OIL.NS Calmar Ratio Rank: 61
OIL.NS Martin Ratio Rank: 59

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.

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

This table presents a comparison of risk-adjusted performance metrics for Oil India Limited (OIL.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.

	OIL.NS	M&M.NS	Difference
Sharpe ratio: Return per unit of total volatility	0.61	-0.02	+0.62
Sortino ratio: Return per unit of downside risk	1.11	0.17	+0.94
Omega ratio: Gain probability vs. loss probability	1.13	1.02	+0.11
Calmar ratio: Return relative to maximum drawdown	0.97	-0.02	+0.98
Martin ratio: Return relative to average drawdown	1.76	-0.04	+1.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current OIL.NS Sharpe Ratio is 0.61, which is higher than the M&M.NS Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of OIL.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

	OIL.NS	M&M.NS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	-0.02	+0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.16	1.15	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.57	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.19	+0.19

Drawdowns

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

The maximum OIL.NS drawdown since its inception was -71.22%, smaller than the maximum M&M.NS drawdown of -94.09%. Use the drawdown chart below to compare losses from any high point for OIL.NS and M&M.NS.

Drawdown Indicators

	OIL.NS	M&M.NS	Difference
Max Drawdown Largest peak-to-trough decline	-71.22%	-94.09%	+22.87%
Max Drawdown (1Y) Largest decline over 1 year	-18.83%	-22.91%	+4.08%
Max Drawdown (3Y) Largest decline over 3 years	-52.77%	-22.91%	-29.86%
Max Drawdown (5Y) Largest decline over 5 years	-52.77%	-28.09%	-24.68%
Max Drawdown (10Y) Largest decline over 10 years	-67.42%	-72.28%	+4.86%
Current Drawdown Current decline from peak	-30.57%	-20.68%	-9.89%
Average Drawdown Average peak-to-trough decline	-25.26%	-31.10%	+5.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.34%	9.68%	+0.66%

Volatility

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

Oil India Limited (OIL.NS) has a higher volatility of 10.29% compared to Mahindra & Mahindra Limited (M&M.NS) at 6.92%. This indicates that OIL.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

	OIL.NS	M&M.NS	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.29%	6.92%	+3.37%
Volatility (6M) Calculated over the trailing 6-month period	24.50%	21.45%	+3.05%
Volatility (1Y) Calculated over the trailing 1-year period	30.08%	26.75%	+3.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.40%	27.81%	+12.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.06%	30.40%	+6.66%

Dividends

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

OIL.NS's dividend yield for the trailing twelve months is around 2.45%, more than M&M.NS's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
OIL.NS Oil India Limited	2.45%	2.83%	2.59%	5.11%	7.32%	4.27%	9.87%	6.70%	5.91%	3.84%	3.54%	5.22%

Financials

Frequently Asked Questions

Can I hold both OIL.NS and M&M.NS in my portfolio?

OIL.NS and M&M.NS have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.