SPM.MI vs. PHSP.L
SPM.MI (Saipem SpA) is a stock, while PHSP.L (WisdomTree Physical Silver) is Silver fund tracking the LBMA Silver Price. Over the past 10 years, SPM.MI returned -4.87%/yr vs 13.07%/yr for PHSP.L. At a 0.14 correlation, their price movements are largely independent.
Performance
SPM.MI vs. PHSP.L - Performance Comparison
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Different Trading Currencies
SPM.MI is traded in EUR, while PHSP.L is traded in GBp. To make them comparable, the PHSP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPM.MI achieves a 102.43% return, which is significantly higher than PHSP.L's -9.00% return. Over the past 10 years, SPM.MI has underperformed PHSP.L with an annualized return of -4.87%, while PHSP.L has yielded a comparatively higher 13.07% annualized return.
SPM.MI
- 1D
- 0.85%
- 1M
- 6.73%
- YTD
- 102.43%
- 6M
- 110.24%
- 1Y
- 104.11%
- 3Y*
- 60.15%
- 5Y*
- -0.99%
- 10Y*
- -4.87%
PHSP.L
- 1D
- 0.00%
- 1M
- -26.47%
- YTD
- -9.00%
- 6M
- 5.61%
- 1Y
- 76.30%
- 3Y*
- 35.38%
- 5Y*
- 18.58%
- 10Y*
- 13.07%
SPM.MI vs. PHSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPM.MI Saipem SpA | 102.43% | 4.29% | 70.75% | 30.09% | -75.59% | -16.27% | -49.38% | 33.29% | -14.14% | -28.89% |
PHSP.L WisdomTree Physical Silver | -4.50% | 117.70% | 28.78% | -4.53% | 9.55% | -6.39% | 33.20% | 19.73% | -4.74% | -9.39% |
Correlation
The correlation between SPM.MI and PHSP.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.14 |
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Return for Risk
SPM.MI vs. PHSP.L — Risk / Return Rank
SPM.MI
PHSP.L
SPM.MI vs. PHSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saipem SpA (SPM.MI) and WisdomTree Physical Silver (PHSP.L). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPM.MI | PHSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.27 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 7.07 | 1.81 | +5.26 |
| Martin ratioReturn relative to average drawdown | 17.93 | 4.02 | +13.90 |
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Drawdowns
SPM.MI vs. PHSP.L - Drawdown Comparison
The maximum SPM.MI drawdown since its inception was -99.54%, which is greater than PHSP.L's maximum drawdown of -71.39%. Use the drawdown chart below to compare losses from any high point for SPM.MI and PHSP.L.
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Drawdown Indicators
| SPM.MI | PHSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.54% | -71.39% | -28.15% |
Max Drawdown (1Y)Largest decline over 1 year | -14.73% | -41.90% | +27.17% |
Max Drawdown (3Y)Largest decline over 3 years | -41.09% | -41.90% | +0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -89.70% | -41.90% | -47.80% |
Max Drawdown (10Y)Largest decline over 10 years | -95.91% | -42.19% | -53.72% |
Current DrawdownCurrent decline from peak | -95.80% | -41.90% | -53.90% |
Average DrawdownAverage peak-to-trough decline | -65.66% | -42.75% | -22.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.81% | 18.91% | -13.10% |
Volatility
SPM.MI vs. PHSP.L - Volatility Comparison
The current volatility for Saipem SpA (SPM.MI) is 10.02%, while WisdomTree Physical Silver (PHSP.L) has a volatility of 13.12%. This indicates that SPM.MI experiences smaller price fluctuations and is considered to be less risky than PHSP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPM.MI | PHSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.02% | 13.12% | -3.10% |
Volatility (6M)Calculated over the trailing 6-month period | 24.78% | 51.67% | -26.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.62% | 54.58% | -22.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.87% | 36.56% | +33.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.69% | 30.94% | +26.75% |
Dividends
SPM.MI vs. PHSP.L - Dividend Comparison
SPM.MI's dividend yield for the trailing twelve months is around 3.60%, while PHSP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
PHSP.L WisdomTree Physical Silver | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPM.MI Saipem SpA | 3.60% | 7.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% |
Frequently Asked Questions
SPM.MI and PHSP.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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