AIR vs. BA

Last updated Jun 4, 2026

AIR (AAR Corp.) and BA (The Boeing Company) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 10 years, AIR returned 16.85%/yr vs 6.12%/yr for BA. At a 0.35 correlation, their price movements are largely independent.

Performance

AIR vs. BA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAR Corp. (AIR) and The Boeing Company (BA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIR achieves a 34.51% return, which is significantly higher than BA's -3.01% return. Over the past 10 years, AIR has outperformed BA with an annualized return of 16.85%, while BA has yielded a comparatively lower 6.12% annualized return.

AIR

• 1D: 0.68%
• 1M: 1.64%
• YTD: 34.51%
• 6M: 34.75%
• 1Y: 72.65%
• 3Y*: 27.18%
• 5Y*: 21.87%
• 10Y*: 16.85%

BA

• 1D: -3.27%
• 1M: -4.84%
• YTD: -3.01%
• 6M: 3.97%
• 1Y: -1.34%
• 3Y*: -0.43%
• 5Y*: -3.37%
• 10Y*: 6.12%

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

AIR vs. BA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIR AAR Corp.	34.51%	35.10%	-1.79%	38.98%	15.04%	7.76%	-19.25%	21.74%	-4.31%	19.89%
BA The Boeing Company	-3.01%	22.67%	-32.10%	36.84%	-5.38%	-5.95%	-33.90%	3.34%	11.50%	94.72%

Correlation

The correlation between AIR and BA is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 5, 1988	0.35

The correlation between AIR and BA shifts across timeframes, from 0.35 (3 years) to 0.47 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AIR : $4.23B BA : $172.29B
EPS AIR : $4.63 BA : $2.90
PE Ratio AIR : 24.07 BA : 72.57
PEG Ratio AIR : 8.42 BA : 11.37
PS Ratio AIR : 1.31 BA : 1.79
PB Ratio AIR : 2.57 BA : 28.81
Total Revenue (TTM) AIR : $3.13B BA : $92.18B
Gross Profit (TTM) AIR : $595.50M BA : $4.43B
EBITDA (TTM) AIR : $214.30M BA : $7.13B

Return for Risk

AIR vs. BA — Risk / Return Rank

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

AIR

AIR Risk / Return Rank: 84
AIR Sharpe Ratio Rank: 85
AIR Sortino Ratio Rank: 83
AIR Omega Ratio Rank: 80
AIR Calmar Ratio Rank: 86
AIR Martin Ratio Rank: 84

BA

BA Risk / Return Rank: 36
BA Sharpe Ratio Rank: 39
BA Sortino Ratio Rank: 33
BA Omega Ratio Rank: 33
BA Calmar Ratio Rank: 38
BA Martin Ratio Rank: 38

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.

AIR vs. BA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAR Corp. (AIR) and The Boeing Company (BA). 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.

	AIR	BA	Difference
Sharpe ratio Return per unit of total volatility	1.81	-0.04	+1.86
Sortino ratio Return per unit of downside risk	2.56	0.17	+2.39
Omega ratio Gain probability vs. loss probability	1.31	1.02	+0.29
Calmar ratio Return relative to maximum drawdown	3.67	-0.05	+3.72
Martin ratio Return relative to average drawdown	8.72	-0.12	+8.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AIR vs. BA - Sharpe Ratio Comparison

The current AIR Sharpe Ratio is 1.81, which is higher than the BA Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of AIR and BA, 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

	AIR	BA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	-0.04	+1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	-0.09	+0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.15	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.30	-0.14

Drawdowns

AIR vs. BA - Drawdown Comparison

The maximum AIR drawdown since its inception was -89.04%, roughly equal to the maximum BA drawdown of -89.45%. Use the drawdown chart below to compare losses from any high point for AIR and BA.

Drawdown Indicators

	AIR	BA	Difference
Max Drawdown Largest peak-to-trough decline	-89.04%	-89.45%	+0.41%
Max Drawdown (1Y) Largest decline over 1 year	-19.92%	-24.96%	+5.04%
Max Drawdown (3Y) Largest decline over 3 years	-35.72%	-48.31%	+12.59%
Max Drawdown (5Y) Largest decline over 5 years	-35.72%	-54.16%	+18.44%
Max Drawdown (10Y) Largest decline over 10 years	-81.77%	-77.92%	-3.85%
Current Drawdown Current decline from peak	-11.61%	-51.06%	+39.45%
Average Drawdown Average peak-to-trough decline	-34.70%	-31.01%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.36%	10.80%	-2.44%

Volatility

AIR vs. BA - Volatility Comparison

AAR Corp. (AIR) has a higher volatility of 13.62% compared to The Boeing Company (BA) at 10.97%. This indicates that AIR's price experiences larger fluctuations and is considered to be riskier than BA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIR	BA	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.62%	10.97%	+2.65%
Volatility (6M) Calculated over the trailing 6-month period	30.97%	24.54%	+6.43%
Volatility (1Y) Calculated over the trailing 1-year period	40.40%	31.69%	+8.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.28%	36.45%	-1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.25%	41.57%	+3.68%

Dividends

AIR vs. BA - Dividend Comparison

Neither AIR nor BA has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIR AAR Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.41%	0.67%	0.80%	0.76%	0.91%	1.14%
BA The Boeing Company	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.96%	2.52%	2.12%	1.93%	2.80%	2.52%

Financials

AIR vs. BA - Profitability Comparison

The chart below illustrates the profitability comparison between AAR Corp. and The Boeing Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AIR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AAR Corp. reported a gross profit of 154.70M and revenue of 845.10M. Therefore, the gross margin over that period was 18.3%.

BA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported a gross profit of 2.55B and revenue of 22.22B. Therefore, the gross margin over that period was 11.5%.

AIR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AAR Corp. reported an operating income of 64.80M and revenue of 845.10M, resulting in an operating margin of 7.7%.

BA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported an operating income of 448.00M and revenue of 22.22B, resulting in an operating margin of 2.0%.

AIR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AAR Corp. reported a net income of 68.00M and revenue of 845.10M, resulting in a net margin of 8.1%.

BA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported a net income of -4.00M and revenue of 22.22B, resulting in a net margin of -0.0%.

Frequently Asked Questions

Can I hold both AIR and BA in my portfolio?

AIR and BA have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIR or BA?

AIR has higher volatility (13.62%) compared to BA (10.97%). In terms of maximum drawdown, AIR dropped -89.04% vs BA's -89.45%.

Which has better risk-adjusted returns?

AIR currently has the higher Sharpe Ratio (1.81 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.