# How BP p.l.c. (BP) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/bp
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on BP alone. It places BP (BP p.l.c.) against 17 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where BP stands in the market, and of the alternatives worth a closer look.

Period covered: BP's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 3 months, BP rose 19.0% against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100. Both BP and the S&P 500 are within a few percent of a record high.
- **Stock or market?:** BP's 19.0% gain over the past 3 months is part of a broader integrated oil & gas rally: the integrated oil & gas ETF IXC (iShares Global Energy ETF) rose 16.8%, with XOM (Exxonmobil, up 20.7%) and CVX (Chevron, up 20.0%). Last month cut against the tape: BP rose 14.4% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** BP has run far ahead of the market, rising 56.3% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100.
- **Long term:** BP turned $10,000 into $24,100 over the past decade, against $42,100 in the S&P 500. That said, the past 5 years have been the better stretch: BP rose 110% against 81.7% for the S&P 500, after trailing over the decade.
- **In a crash:** Across seven sell-offs, BP has typically fallen 1.2 times as far as the S&P 500. In the Covid crash, BP fell 55.5%, against 33.7% for the S&P 500. That was more than XOM (Exxonmobil, 47.9%) but less than SHEL (Shell, 57.0%).
- **Diversification:** Against the S&P 500, BP has a correlation of 0.12 over 5 years, less closely than 94% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. BP's link to the S&P 500 has loosened: a correlation of 0.12 over the past 5 years, down from 0.50 in the 5 years before.
- **Better options**
  - **Nearby categories and themes:** PAA (Plains All American Pipeline, oil & gas midstream) and PAGP (Plains GP, oil & gas midstream) earned more than BP with less volatility over the past 5 years. PAA returned 27.0% a year at 25.6% volatility, against 16.0% a year at 28.7%.
  - **Whole market:** 97 of the 3,633 stocks and funds worth at least $500 million earned more than BP with less volatility over the past 5 years, among them WMT (Walmart), JPM (JPMorgan Chase & Co.) and XOM (Exxonmobil).

## How much would $10,000 in BP have grown?

This chart tracks a hypothetical $10,000 investment in BP over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of BP over the same span and BP's popular alternatives, among those that traded for the entire period.

- $10,000 invested in BP at the end of September 1997 would have grown to $36,813 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- All eight other investments on the chart ended ahead of BP, and VLO finished highest, at $1,019,941.

## BP at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- BP's deepest decline since it began trading in 1986 was 63.9%, from May 2018 to October 2020. It took 28 months from the low to climb back to its old high.
- Over 29 full calendar years, BP's best was 2022, when it returned 37.0%, and its worst was 2020, when it lost 41.3%. It lost money in ten of those years.
- BP is 1.6% below its all-time high.

- Type: Stock, Energy (Oil & Gas Integrated)
- Trading since: October 17, 1986
- Market value: $130B
- Volatility (5 years): 28.7%; Sharpe ratio: 0.66
- Worst decline ever: −63.9%, from May 21, 2018 to October 28, 2020; back at its high by February 7, 2023

| Period | BP total return |
| --- | --- |
| 1 month | +14.4% |
| 3 months | +19.0% |
| 6 months | +12.1% |
| year to date | +43.0% |
| 1 year | +56.3% |
| 3 years | +46.5% |
| 5 years | +110% |
| 10 years | +141% |

## BP against the whole market

Where BP ranks among every stock and fund, and what across the market has done better.

### How does BP rank among all stocks?

This section ranks BP on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- BP's 1-year return ranks in the top 14% of the 3,287 stocks worth at least $300 million with 1 year of history.

| Measure | BP | Rank |
| --- | --- | --- |
| 1-year return | +56.3% | 468 of 3,287 (top 15%) |
| 3-year return | +46.5% | 1,607 of 3,017 (top 54%) |
| 5-year return | +110% | 623 of 2,893 (top 22%) |
| 10-year return | +141% | 1,124 of 2,202 (top 52%) |
| Volatility, 5 years | 28.7% | 619 of 2,893 (top 22%) |
| Sharpe ratio, 5 years | 0.66 | 539 of 2,893 (top 19%) |
| Worst decline, past 10 years | −63.9% | 1,040 of 2,187 (top 48%) |

### What has beaten BP on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 57 stocks and 40 ETFs worth at least $500 million sit in the green region: each earned more than BP over the past 5 years with smaller price swings. That is 3% of the 3,633 screened.
- Among those with at least half BP's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 14% less than BP's 28.7%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.66 for BP.
- Among BP's popular alternatives, XOM, WMB and E are in the region. XOM earned 27.1% a year against 16.0% a year for BP, at 26.5% volatility, 8% less than BP's 28.7%.

### Is there a better investment than BP?

The table below lists investments that beat BP over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among BP's popular alternatives, CVX, XOM and SHEL earned more than BP with less volatility over the past 5 years. CVX returned 19.5% a year at 25.2% volatility, against 16.0% a year at 28.7%.
- Looking beyond its popular alternatives, PAA (oil & gas midstream) and PAGP (oil & gas midstream) earned more than BP with less volatility over the past 5 years. PAA returned 27.0% a year at 25.6% volatility, against 16.0% a year at 28.7%.
- Across the whole market, 97 of the 3,633 stocks and funds worth at least $500 million earned more than BP with less volatility over the past 5 years, among them WMT, JPM and XOM.

The 15 strongest of 97 investments that beat BP over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with BP | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| BP: BP p.l.c. (this page) |  | +16.0% | 28.7% | 0.66 | −63.9% | +141% |  |  |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.00 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | Health Care Distribution | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.10 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | Biotechnology | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| EWT: iShares MSCI Taiwan ETF | International Equity | +20.4% | 24.2% | 0.89 | −38.9% | +468% | -0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| MSGS: Madison Square Garden Sports Corp. | Entertainment | +18.4% | 25.6% | 0.79 | −41.6% | +432% | 0.13 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CVX](https://easycompare.io/research/cvx): Chevron Corporation | Integrated Oil & Gas | +19.5% | 25.2% | 0.84 | −55.8% | +238% | 0.71 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | Gold | +17.7% | 18.9% | 0.96 | −26.4% | +213% | -0.10 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| FLTW: Franklin FTSE Taiwan ETF | Technology | +21.8% | 24.3% | 0.94 | −38.0% | — | -0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | Property & Casualty Insurance | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.31 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [AFL](https://easycompare.io/research/afl): Aflac Incorporated | Life Insurance | +19.0% | 20.8% | 0.95 | −54.9% | +335% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.16 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [ETR](https://easycompare.io/research/etr): Entergy Corporation | Electric Utilities | +19.2% | 22.4% | 0.90 | −42.0% | +311% | 0.17 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| CBOE: Cboe Global Markets, Inc. | Capital Markets | +21.5% | 25.1% | 0.91 | −43.2% | +463% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| ACGL: Arch Capital Group Ltd. | Property & Casualty Insurance | +20.1% | 24.5% | 0.87 | −53.8% | +309% | 0.36 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| WRB: W. R. Berkley Corporation | Property & Casualty Insurance | +18.9% | 22.9% | 0.87 | −45.3% | +443% | 0.13 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |

## BP against its popular alternatives

The investments people most often weigh against BP, compared period by period and year by year.

### How do BP's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Six of the 17 popular alternatives, led by XOM, WMB and E, were both more rewarding and calmer than BP over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, BP returned 16.0% a year, more than the S&P 500's 12.7%, with higher volatility (28.7% against 17.1%).

### Has BP consistently beaten its popular alternatives?

This section compares BP with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Ten of the 17 popular alternatives, led by PBR, SU and VLO, outperformed BP in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- PBR, SU and VLO outperformed BP in every long-term period and in all but one short-term period, the most consistent record in the group.
- XOM, E and LNG earned more for the risk they took than BP (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of BP | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| BP: BP p.l.c. (this page) | +56.3% | +46.5% | +110% | +141% |  |  | 0.66 |
| [PBR](https://easycompare.io/research/pbr): Petróleo Brasileiro S.A. - Petrobras | +140% | +132% | +667% | +674% | 5/5 short-term, 3/3 long-term | all-weather | 1.28 |
| [SU](https://easycompare.io/research/su): Suncor Energy Inc. | +111% | +161% | +318% | +295% | 5/5 short-term, 3/3 long-term | all-weather | 1.05 |
| [VLO](https://easycompare.io/research/vlo): Valero Energy Corporation | +176% | +259% | +524% | +1,061% | 4/5 short-term, 3/3 long-term | all-weather | 1.18 |
| [EQNR](https://easycompare.io/research/eqnr): Equinor ASA | +107% | +73.2% | +141% | +416% | 4/5 short-term, 3/3 long-term | all-weather | 0.69 |
| [E](https://easycompare.io/research/e): Eni S.p.A. | +77.9% | +120% | +181% | +278% | 4/5 short-term, 3/3 long-term | all-weather | 0.94 |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | +62.4% | +76.7% | +232% | +214% | 4/5 short-term, 3/3 long-term | all-weather | 1.04 |
| EC: Ecopetrol S.A. | +112% | +116% | +129% | +401% | 3/5 short-term, 3/3 long-term | consistent | 0.63 |
| [CVX](https://easycompare.io/research/cvx): Chevron Corporation | +51.9% | +53.4% | +144% | +238% | 3/5 short-term, 3/3 long-term | consistent | 0.84 |
| [CVE](https://easycompare.io/research/cve): Cenovus Energy Inc. | +101% | +76.2% | +225% | +163% | 3/5 short-term, 3/3 long-term | consistent | 0.80 |
| [COP](https://easycompare.io/research/cop): ConocoPhillips | +72.9% | +28.5% | +131% | +379% | 4/5 short-term, 2/3 long-term | consistent | 0.68 |
| [IMO](https://easycompare.io/research/imo): Imperial Oil Limited | +59.7% | +143% | +337% | +430% | 2/5 short-term, 3/3 long-term |  | 1.09 |
| [SHEL](https://easycompare.io/research/shel): Shell plc | +50.3% | +77.1% | +159% | +233% | 2/5 short-term, 3/3 long-term |  | 0.90 |
| YPF: YPF Sociedad Anónima | +102% | +313% | +971% | +173% | 2/5 short-term, 3/3 long-term |  | 1.14 |
| [LNG](https://easycompare.io/research/lng): Cheniere Energy, Inc. | +29.3% | +69.8% | +186% | +616% | 1/5 short-term, 3/3 long-term |  | 0.85 |
| [WMB](https://easycompare.io/research/wmb): The Williams Companies, Inc. | +14.9% | +125% | +200% | +288% | 0/5 short-term, 3/3 long-term |  | 1.04 |
| [TTE](https://easycompare.io/research/tte): TotalEnergies SE | +55.2% | +60.5% | +129% | +234% | 0/5 short-term, 3/3 long-term |  | 0.78 |
| [SLB](https://easycompare.io/research/slb): Slb N.V. | +53.2% | −7.2% | +60.7% | −21.3% | 0/5 short-term, 0/3 long-term |  | 0.44 |

### How did BP do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where BP ranked among its popular alternatives each year.

- Ranked against its popular alternatives each year, BP finished in the top quarter in two of 29 years and in the bottom quarter in seven. In 2025, it ranked 7 of 18.
- BP finished ahead of the S&P 500 in 12 of its 29 full calendar years.
- Among its popular alternatives, TTE came out ahead of BP most often, in 20 of the 29 years both traded.

| Year | BP | SPY |
| --- | --- | --- |
| 2025 | +24.5% | +17.7% |
| 2024 | −11.9% | +24.9% |
| 2023 | +6.0% | +26.2% |
| 2022 | +37.0% | −18.2% |
| 2021 | +36.4% | +28.7% |
| 2020 | −41.3% | +18.3% |
| 2019 | +5.9% | +31.2% |
| 2018 | −4.6% | −4.6% |
| 2017 | +20.0% | +21.7% |
| 2016 | +28.8% | +12.0% |

## Risk and diversification

How BP has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were BP's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all three of BP's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: BP fell 63.9% from May 2018 to October 2020, while the S&P 500 rose 25.4%.
- The slowest recovery came after BP fell 60.7% from November 2007 to June 2010; it did not regain that peak until May 2018, eight years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −63.9% | May 21, 2018 | October 28, 2020 | February 7, 2023 | +25.4% | late-2018 sell-off |
| −60.7% | November 6, 2007 | June 25, 2010 | May 9, 2018 | −24.6% | 2008 financial crisis |
| −44.5% | August 17, 1990 | November 4, 1992 | May 5, 1994 | — |  |
| −37.6% | December 16, 1999 | January 27, 2003 | April 15, 2004 | −37.5% | dot-com bust |
| −35.7% | July 16, 1987 | December 3, 1987 | February 1, 1990 | — |  |

### How did BP do in stock market crashes?

This section measures how far BP, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, CVX held up best, falling less than BP in eight of the ten crashes they both traded through.
- BP fell further than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the Covid crash, when BP fell 55.5% and the S&P 500 fell 33.7%.

| Crash | Dates | BP fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −31.1% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −53.4% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.5% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −23.9% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −22.9% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.0% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −20.9% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −55.5% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −23.9% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −4.2% | −3.4% |

### How closely does BP move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Over the past 10 years, BP captured 58% of the S&P 500's gains in rising months and 62% of its losses in falling months, with a beta of 0.51. Its share of the market's losses was slightly larger than its share of the gains.
- 11 of the 17 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than BP's 0.94, led by LNG, PBR and EQNR.
- LNG took just 30% of the S&P 500's losses, against 62% for BP, while still keeping 79% of its gains.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| BP: BP p.l.c. (this page) | 58.0% | 62.0% | 0.51 |
| [PBR](https://easycompare.io/research/pbr): Petróleo Brasileiro S.A. - Petrobras | 104% | 63.0% | 0.99 |
| [SU](https://easycompare.io/research/su): Suncor Energy Inc. | 90.0% | 90.0% | 0.96 |
| [VLO](https://easycompare.io/research/vlo): Valero Energy Corporation | 142% | 114% | 1.31 |
| [EQNR](https://easycompare.io/research/eqnr): Equinor ASA | 79.0% | 52.0% | 0.62 |
| [E](https://easycompare.io/research/e): Eni S.p.A. | 79.0% | 69.0% | 0.70 |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | 78.0% | 83.0% | 0.76 |
| EC: Ecopetrol S.A. | 127% | 139% | 1.13 |
| [CVX](https://easycompare.io/research/cvx): Chevron Corporation | 86.0% | 94.0% | 0.89 |
| [CVE](https://easycompare.io/research/cve): Cenovus Energy Inc. | 124% | 173% | 1.69 |
| [COP](https://easycompare.io/research/cop): ConocoPhillips | 94.0% | 92.0% | 0.91 |
| [IMO](https://easycompare.io/research/imo): Imperial Oil Limited | 110% | 105% | 1.18 |
| [SHEL](https://easycompare.io/research/shel): Shell plc | 60.0% | 43.0% | 0.45 |
| YPF: YPF Sociedad Anónima | 144% | 206% | 1.58 |
| [LNG](https://easycompare.io/research/lng): Cheniere Energy, Inc. | 79.0% | 30.0% | 0.77 |
| [WMB](https://easycompare.io/research/wmb): The Williams Companies, Inc. | 85.0% | 78.0% | 1.02 |
| [TTE](https://easycompare.io/research/tte): TotalEnergies SE | 69.0% | 57.0% | 0.51 |
| [SLB](https://easycompare.io/research/slb): Slb N.V. | 104% | 212% | 1.54 |

### What diversifies BP?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in BP into GLD would have cut the portfolio's volatility by 20% over the past 5 years and raised its annual return (+15.6% for BP alone, +17.2% for the mix).
- Among large ETFs, DXJ, EMLP and HDV have moved largely independently of BP over the past 5 years, with correlations of 0.49 or lower, and each still earned a positive 5-year return.
- CAH made money in six of the ten calendar years in which BP lost money.

| Investment | Correlation with BP | 5Y return | Volatility | Sharpe | Rose in BP's 10 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.16 | +225% | 19.1% | 1.34 | 4 of 10 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.40 | +101% | 14.5% | 1.04 | 2 of 10 |
| HDV: iShares Core High Dividend ETF | 0.49 | +83.3% | 13.0% | 1.00 | 2 of 10 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | -0.13 | +323% | 36.9% | 0.97 | 4 of 10 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.24 | +85.0% | 13.8% | 0.96 | 4 of 10 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | -0.10 | +126% | 18.9% | 0.96 | 4 of 10 |
| SPMO: Invesco S&P 500 Momentum ETF | -0.05 | +136% | 20.8% | 0.93 | 2 of 10 |
| DFIV: Dimensional - International Value ETF | 0.47 | +99.4% | 16.4% | 0.93 | 1 of 10 |

## Common questions

### What was BP's worst drawdown?

BP's deepest decline since it began trading in 1986 was 63.9%, from May 2018 to October 2020. It took 28 months from the low to climb back to its old high.

### What were BP's best and worst years?

Over 29 full calendar years, BP's best year was 2022, when it returned 37.0%. Its worst was 2020, with a return of -41.3%.

### Is there a better investment than BP?

Among BP's popular alternatives, CVX, XOM and SHEL earned more than BP with less volatility over the past 5 years. CVX returned 19.5% a year at 25.2% volatility, against 16.0% a year at 28.7%. Looking beyond its popular alternatives, PAA (oil & gas midstream) and PAGP (oil & gas midstream) earned more than BP with less volatility over the past 5 years. PAA returned 27.0% a year at 25.6% volatility, against 16.0% a year at 28.7%.

### Is BP more volatile than the S&P 500?

Yes. BP's volatility over the past 5 years was 28.7%, 1.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BP's return lands within 28.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is BP's Sharpe ratio?

BP's Sharpe ratio over the past 5 years was 0.66, against 0.79 for the S&P 500, so BP earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is BP with the S&P 500?

Over the past 5 years, BP's monthly returns had a correlation of 0.12 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against BP instead: the lower it is, the more that option would diversify a BP holding.

### What are the best alternatives to BP?

Of the 17 popular alternatives we compared, ten outperformed BP in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: PBR, SU and VLO.

### Did BP outperform the S&P 500?

BP finished ahead of the S&P 500 (SPY) in 12 of 29 full calendar years. In 2025, it returned +24.5%, against +17.7% for the index.

### How did BP do in stock market crashes?

BP fell less than the S&P 500 (SPY) in four of the ten major crashes it has traded through, and further in six. The clearest case was the Covid crash, when BP fell 55.5% and the S&P 500 fell 33.7%.

### What diversifies BP?

These had a low correlation with BP over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.16), EMLP (correlation 0.40) and HDV (correlation 0.49); among large stocks, CAH (correlation -0.00), CLS (correlation 0.09) and FIX (correlation 0.04). A correlation near zero means the two have moved largely independently.

## More research

- [Petróleo Brasileiro S.A. - Petrobras (PBR) Performance, Alternatives and Market Rank](https://easycompare.io/research/pbr)
- [Suncor Energy (SU) Performance, Alternatives and Market Rank](https://easycompare.io/research/su)
- [Valero Energy (VLO) Performance, Alternatives and Market Rank](https://easycompare.io/research/vlo)
- [Equinor ASA (EQNR) Performance, Alternatives and Market Rank](https://easycompare.io/research/eqnr)
- [Eni S.p.A. (E) Performance, Alternatives and Market Rank](https://easycompare.io/research/e)
- [Exxonmobil (XOM) Performance, Alternatives and Market Rank](https://easycompare.io/research/xom)
- [Chevron (CVX) Performance, Alternatives and Market Rank](https://easycompare.io/research/cvx)
- [Cenovus Energy (CVE) Performance, Alternatives and Market Rank](https://easycompare.io/research/cve)
- [ConocoPhillips (COP) Performance, Alternatives and Market Rank](https://easycompare.io/research/cop)
- [Imperial Oil (IMO) Performance, Alternatives and Market Rank](https://easycompare.io/research/imo)
- [Shell (SHEL) Performance, Alternatives and Market Rank](https://easycompare.io/research/shel)
- [Cheniere Energy (LNG) Performance, Alternatives and Market Rank](https://easycompare.io/research/lng)

## Explore further

- Full page with charts: https://easycompare.io/research/bp
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against BP live: https://betterthanspy.com/?b=BP&utm_source=easycompare&utm_medium=research