SPM.MI vs. NEX.PA

Last updated Jun 4, 2026

SPM.MI (Saipem SpA) and NEX.PA (Nexans S.A.) are both stocks. SPM.MI operates in Oil & Gas Equipment & Services (Energy), while NEX.PA operates in Electrical Equipment & Parts (Industrials). Over the past 10 years, SPM.MI returned -5.72%/yr vs 15.14%/yr for NEX.PA. At a 0.31 correlation, their price movements are largely independent.

Performance

SPM.MI vs. NEX.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Saipem SpA (SPM.MI) and Nexans S.A. (NEX.PA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPM.MI achieves a 84.43% return, which is significantly higher than NEX.PA's 29.67% return. Over the past 10 years, SPM.MI has underperformed NEX.PA with an annualized return of -5.72%, while NEX.PA has yielded a comparatively higher 15.14% annualized return.

SPM.MI

• 1D: -0.46%
• 1M: -3.72%
• YTD: 84.43%
• 6M: 89.67%
• 1Y: 99.12%
• 3Y*: 56.01%
• 5Y*: -3.08%
• 10Y*: -5.72%

NEX.PA

• 1D: -0.12%
• 1M: 3.25%
• YTD: 29.67%
• 6M: 27.25%
• 1Y: 62.00%
• 3Y*: 31.59%
• 5Y*: 18.49%
• 10Y*: 15.14%

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

SPM.MI vs. NEX.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPM.MI Saipem SpA	84.43%	4.55%	70.68%	30.38%	-75.67%	-16.27%	-49.16%	33.41%	-14.21%	-28.87%
NEX.PA Nexans S.A.	29.67%	23.90%	34.29%	-3.54%	-0.13%	46.32%	36.24%	80.58%	-51.55%	4.92%

Correlation

The correlation between SPM.MI and NEX.PA is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 14, 2001	0.31

The correlation between SPM.MI and NEX.PA shifts across timeframes, from 0.16 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPM.MI vs. NEX.PA — Risk / Return Rank

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

SPM.MI

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

NEX.PA

NEX.PA Risk / Return Rank: 81
NEX.PA Sharpe Ratio Rank: 84
NEX.PA Sortino Ratio Rank: 80
NEX.PA Omega Ratio Rank: 79
NEX.PA Calmar Ratio Rank: 82
NEX.PA Martin Ratio Rank: 79

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.

SPM.MI vs. NEX.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saipem SpA (SPM.MI) and Nexans S.A. (NEX.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.

	SPM.MI	NEX.PA	Difference
Sharpe ratio: Return per unit of total volatility	3.15	1.67	+1.48
Sortino ratio: Return per unit of downside risk	3.65	2.29	+1.36
Omega ratio: Gain probability vs. loss probability	1.46	1.29	+0.17
Calmar ratio: Return relative to maximum drawdown	6.75	2.93	+3.81
Martin ratio: Return relative to average drawdown	17.06	6.38	+10.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPM.MI vs. NEX.PA - Sharpe Ratio Comparison

The current SPM.MI Sharpe Ratio is 3.15, which is higher than the NEX.PA Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of SPM.MI and NEX.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

	SPM.MI	NEX.PA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.15	1.67	+1.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.50	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.10	0.40	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.24	-0.23

Drawdowns

SPM.MI vs. NEX.PA - Drawdown Comparison

The maximum SPM.MI drawdown since its inception was -99.52%, which is greater than NEX.PA's maximum drawdown of -79.39%. Use the drawdown chart below to compare losses from any high point for SPM.MI and NEX.PA.

Drawdown Indicators

	SPM.MI	NEX.PA	Difference
Max Drawdown Largest peak-to-trough decline	-99.52%	-79.39%	-20.13%
Max Drawdown (1Y) Largest decline over 1 year	-14.69%	-20.82%	+6.13%
Max Drawdown (3Y) Largest decline over 3 years	-41.10%	-42.26%	+1.16%
Max Drawdown (5Y) Largest decline over 5 years	-89.70%	-42.26%	-47.44%
Max Drawdown (10Y) Largest decline over 10 years	-95.90%	-60.41%	-35.49%
Current Drawdown Current decline from peak	-96.02%	-2.84%	-93.18%
Average Drawdown Average peak-to-trough decline	-44.37%	-39.29%	-5.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.81%	9.63%	-3.82%

Volatility

SPM.MI vs. NEX.PA - Volatility Comparison

Saipem SpA (SPM.MI) has a higher volatility of 11.07% compared to Nexans S.A. (NEX.PA) at 10.38%. This indicates that SPM.MI's price experiences larger fluctuations and is considered to be riskier than NEX.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPM.MI	NEX.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.07%	10.38%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	24.81%	26.29%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	31.45%	36.49%	-5.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.87%	36.17%	+33.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.82%	37.21%	+20.61%

Dividends

SPM.MI vs. NEX.PA - Dividend Comparison

SPM.MI's dividend yield for the trailing twelve months is around 3.95%, more than NEX.PA's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEX.PA Nexans S.A.	1.81%	2.07%	2.21%	2.65%	1.42%	0.82%	0.00%	0.69%	2.88%	0.98%
SPM.MI Saipem SpA	3.95%	7.01%	0.00%	0.00%	0.00%	0.00%	0.46%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both SPM.MI and NEX.PA in my portfolio?

SPM.MI and NEX.PA have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.