SGP.AX vs. COV.PA

Last updated Jun 4, 2026

SGP.AX (Stockland) and COV.PA (Covivio SA) are both stocks. Both operate in the REIT - Diversified industry within the Real Estate sector. Over the past 10 years, SGP.AX returned 3.86%/yr vs 1.05%/yr for COV.PA. At a 0.14 correlation, their price movements are largely independent.

Performance

SGP.AX vs. COV.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Stockland (SGP.AX) and Covivio SA (COV.PA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SGP.AX is traded in AUD, while COV.PA is traded in EUR. To make them comparable, the COV.PA values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SGP.AX achieves a -35.08% return, which is significantly lower than COV.PA's -10.73% return. Over the past 10 years, SGP.AX has outperformed COV.PA with an annualized return of 3.86%, while COV.PA has yielded a comparatively lower 1.05% annualized return.

SGP.AX

• 1D: -1.85%
• 1M: -7.46%
• YTD: -35.08%
• 6M: -36.28%
• 1Y: -28.59%
• 3Y*: -0.35%
• 5Y*: 0.77%
• 10Y*: 3.86%

COV.PA

• 1D: -1.73%
• 1M: -3.29%
• YTD: -10.73%
• 6M: -8.63%
• 1Y: -2.09%
• 3Y*: 8.62%
• 5Y*: -2.64%
• 10Y*: 1.05%

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

SGP.AX vs. COV.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGP.AX Stockland	-35.08%	25.12%	13.92%	29.32%	-8.20%	7.26%	-4.31%	39.46%	-15.68%	3.51%
COV.PA Covivio SA	-10.73%	24.66%	11.27%	-5.01%	-18.87%	-0.76%	-19.57%	24.26%	-1.32%	21.55%

Correlation

The correlation between SGP.AX and COV.PA is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jul 2, 2007	0.14

Return for Risk

SGP.AX vs. COV.PA — Risk / Return Rank

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

SGP.AX

SGP.AX Risk / Return Rank: 7
SGP.AX Sharpe Ratio Rank: 2
SGP.AX Sortino Ratio Rank: 3
SGP.AX Omega Ratio Rank: 5
SGP.AX Calmar Ratio Rank: 18
SGP.AX Martin Ratio Rank: 9

COV.PA

COV.PA Risk / Return Rank: 47
COV.PA Sharpe Ratio Rank: 51
COV.PA Sortino Ratio Rank: 44
COV.PA Omega Ratio Rank: 42
COV.PA Calmar Ratio Rank: 48
COV.PA Martin Ratio Rank: 50

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.

SGP.AX vs. COV.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stockland (SGP.AX) and Covivio SA (COV.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.

	SGP.AX	COV.PA	Difference
Sharpe ratio Return per unit of total volatility	-1.26	-0.10	-1.16
Sortino ratio Return per unit of downside risk	-1.83	0.01	-1.84
Omega ratio Gain probability vs. loss probability	0.79	1.00	-0.21
Calmar ratio Return relative to maximum drawdown	-0.65	-0.11	-0.54
Martin ratio Return relative to average drawdown	-1.37	-0.21	-1.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGP.AX vs. COV.PA - Sharpe Ratio Comparison

The current SGP.AX Sharpe Ratio is -1.26, which is lower than the COV.PA Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of SGP.AX and COV.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

	SGP.AX	COV.PA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.26	-0.10	-1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	-0.10	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.04	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.06	+0.23

Drawdowns

SGP.AX vs. COV.PA - Drawdown Comparison

The maximum SGP.AX drawdown since its inception was -73.75%, which is greater than COV.PA's maximum drawdown of -64.51%. Use the drawdown chart below to compare losses from any high point for SGP.AX and COV.PA.

Drawdown Indicators

	SGP.AX	COV.PA	Difference
Max Drawdown Largest peak-to-trough decline	-73.75%	-64.51%	-9.24%
Max Drawdown (1Y) Largest decline over 1 year	-43.86%	-19.22%	-24.64%
Max Drawdown (3Y) Largest decline over 3 years	-43.86%	-19.22%	-24.64%
Max Drawdown (5Y) Largest decline over 5 years	-43.86%	-47.57%	+3.71%
Max Drawdown (10Y) Largest decline over 10 years	-66.88%	-58.49%	-8.39%
Current Drawdown Current decline from peak	-43.86%	-32.16%	-11.70%
Average Drawdown Average peak-to-trough decline	-13.79%	-26.39%	+12.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.83%	9.75%	+11.08%

Volatility

SGP.AX vs. COV.PA - Volatility Comparison

Stockland (SGP.AX) has a higher volatility of 10.72% compared to Covivio SA (COV.PA) at 6.07%. This indicates that SGP.AX's price experiences larger fluctuations and is considered to be riskier than COV.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGP.AX	COV.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.72%	6.07%	+4.65%
Volatility (6M) Calculated over the trailing 6-month period	16.83%	17.50%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	22.60%	21.34%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.21%	27.18%	-3.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.02%	29.40%	-1.38%

Dividends

SGP.AX vs. COV.PA - Dividend Comparison

SGP.AX's dividend yield for the trailing twelve months is around 7.04%, more than COV.PA's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COV.PA Covivio SA	2.82%	1.79%	6.77%	5.05%	6.76%	4.99%	6.37%	4.55%	5.34%	1.09%	3.72%	1.58%
SGP.AX Stockland	7.04%	4.57%	5.12%	5.03%	7.27%	5.97%	5.24%	5.97%	7.67%	5.78%	5.44%	5.90%

Financials

Frequently Asked Questions

Can I hold both SGP.AX and COV.PA in my portfolio?

SGP.AX and COV.PA have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.