SPM.MI vs. RIO

Last updated Jun 5, 2026

SPM.MI (Saipem SpA) and RIO (Rio Tinto Group) are both stocks. SPM.MI operates in Oil & Gas Equipment & Services (Energy), while RIO operates in Other Industrial Metals & Mining (Basic Materials). Over the past 10 years, SPM.MI returned -5.93%/yr vs 21.43%/yr for RIO. At a 0.33 correlation, their price movements are largely independent.

Performance

SPM.MI vs. RIO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Saipem SpA (SPM.MI) and Rio Tinto Group (RIO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPM.MI is traded in EUR, while RIO is traded in USD. To make them comparable, the RIO 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 85.28% return, which is significantly higher than RIO's 31.87% return. Over the past 10 years, SPM.MI has underperformed RIO with an annualized return of -5.93%, while RIO has yielded a comparatively higher 21.43% annualized return.

SPM.MI

• 1D: 0.46%
• 1M: 4.39%
• YTD: 85.28%
• 6M: 84.14%
• 1Y: 93.67%
• 3Y*: 56.73%
• 5Y*: -2.99%
• 10Y*: -5.93%

RIO

• 1D: 0.00%
• 1M: -2.25%
• YTD: 31.87%
• 6M: 43.19%
• 1Y: 77.61%
• 3Y*: 20.52%
• 5Y*: 12.13%
• 10Y*: 21.43%

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

SPM.MI vs. RIO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPM.MI Saipem SpA	85.28%	4.55%	70.68%	30.38%	-75.67%	-16.27%	-49.16%	33.41%	-14.21%	-28.87%
RIO Rio Tinto Group	31.87%	27.32%	-9.77%	7.73%	25.82%	3.54%	24.99%	36.19%	1.63%	27.07%

Correlation

The correlation between SPM.MI and RIO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Aug 31, 2007	0.33

The correlation between SPM.MI and RIO shifts across timeframes, from 0.21 (3 years) to 0.33 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPM.MI vs. RIO — 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: 92
SPM.MI Omega Ratio Rank: 91
SPM.MI Calmar Ratio Rank: 94
SPM.MI Martin Ratio Rank: 93

RIO

RIO Risk / Return Rank: 93
RIO Sharpe Ratio Rank: 94
RIO Sortino Ratio Rank: 92
RIO Omega Ratio Rank: 91
RIO Calmar Ratio Rank: 93
RIO Martin Ratio Rank: 96

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. RIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saipem SpA (SPM.MI) and Rio Tinto Group (RIO). 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	RIO	Difference
Sharpe ratio: Return per unit of total volatility	3.05	2.89	+0.16
Sortino ratio: Return per unit of downside risk	3.56	3.52	+0.04
Omega ratio: Gain probability vs. loss probability	1.45	1.44	+0.01
Calmar ratio: Return relative to maximum drawdown	6.51	5.81	+0.70
Martin ratio: Return relative to average drawdown	16.42	22.64	-6.22
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. RIO - Sharpe Ratio Comparison

The current SPM.MI Sharpe Ratio is 3.05, which is comparable to the RIO Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of SPM.MI and RIO, 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	RIO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.05	2.89	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.45	-0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.10	0.73	-0.83
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.24	-0.24

Drawdowns

SPM.MI vs. RIO - Drawdown Comparison

The maximum SPM.MI drawdown since its inception was -99.52%, which is greater than RIO's maximum drawdown of -86.56%. Use the drawdown chart below to compare losses from any high point for SPM.MI and RIO.

Drawdown Indicators

	SPM.MI	RIO	Difference
Max Drawdown Largest peak-to-trough decline	-99.52%	-86.56%	-12.96%
Max Drawdown (1Y) Largest decline over 1 year	-14.69%	-13.42%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-41.10%	-24.79%	-16.31%
Max Drawdown (5Y) Largest decline over 5 years	-89.70%	-28.64%	-61.06%
Max Drawdown (10Y) Largest decline over 10 years	-95.90%	-34.88%	-61.02%
Current Drawdown Current decline from peak	-96.01%	-8.97%	-87.04%
Average Drawdown Average peak-to-trough decline	-44.38%	-26.49%	-17.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.82%	3.44%	+2.38%

Volatility

SPM.MI vs. RIO - Volatility Comparison

Saipem SpA (SPM.MI) and Rio Tinto Group (RIO) have volatilities of 11.02% and 10.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPM.MI	RIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.02%	10.64%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	24.81%	22.31%	+2.50%
Volatility (1Y) Calculated over the trailing 1-year period	31.45%	27.04%	+4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.86%	27.33%	+42.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.80%	29.49%	+28.31%

Dividends

SPM.MI vs. RIO - Dividend Comparison

SPM.MI's dividend yield for the trailing twelve months is around 3.93%, less than RIO's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RIO Rio Tinto Group	3.98%	4.66%	7.40%	5.40%	10.48%	10.23%	5.13%	7.68%	6.32%	4.47%	3.93%	7.58%
SPM.MI Saipem SpA	3.93%	7.01%	0.00%	0.00%	0.00%	0.00%	0.46%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

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

SPM.MI and RIO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.