AIRYY vs. ^NDX

Last updated Jun 4, 2026

AIRYY (Air China Ltd ADR) is a stock, while ^NDX (NASDAQ 100 Index) is an index. Over the past 10 years, AIRYY returned -0.06%/yr vs 21.09%/yr for ^NDX. At a 0.17 correlation, their price movements are largely independent.

Performance

AIRYY vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Air China Ltd ADR (AIRYY) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIRYY achieves a -31.65% return, which is significantly lower than ^NDX's 21.07% return. Over the past 10 years, AIRYY has underperformed ^NDX with an annualized return of -0.06%, while ^NDX has yielded a comparatively higher 21.09% annualized return.

AIRYY

• 1D: 0.00%
• 1M: 0.00%
• YTD: -31.65%
• 6M: -26.86%
• 1Y: -5.06%
• 3Y*: -8.43%
• 5Y*: -6.28%
• 10Y*: -0.06%

^NDX

• 1D: -0.29%
• 1M: 10.56%
• YTD: 21.07%
• 6M: 19.39%
• 1Y: 41.12%
• 3Y*: 28.09%
• 5Y*: 17.29%
• 10Y*: 21.09%

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

AIRYY vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIRYY Air China Ltd ADR	-31.65%	39.73%	-1.35%	-27.17%	28.38%	-9.84%	-24.69%	22.28%	-29.18%	95.57%
^NDX NASDAQ 100 Index	21.07%	20.17%	24.88%	53.81%	-32.97%	26.63%	47.58%	37.96%	-1.04%	31.52%

Correlation

The correlation between AIRYY and ^NDX is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since Jul 16, 2007	0.17

The correlation between AIRYY and ^NDX shifts across timeframes, from 0.00 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AIRYY vs. ^NDX — Risk / Return Rank

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

AIRYY

AIRYY Risk / Return Rank: 38
AIRYY Sharpe Ratio Rank: 37
AIRYY Sortino Ratio Rank: 36
AIRYY Omega Ratio Rank: 42
AIRYY Calmar Ratio Rank: 37
AIRYY Martin Ratio Rank: 36

^NDX

^NDX Risk / Return Rank: 81
^NDX Sharpe Ratio Rank: 83
^NDX Sortino Ratio Rank: 82
^NDX Omega Ratio Rank: 81
^NDX Calmar Ratio Rank: 81
^NDX Martin Ratio Rank: 80

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.

AIRYY vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Air China Ltd ADR (AIRYY) and NASDAQ 100 Index (^NDX). 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.

	AIRYY	^NDX	Difference
Sharpe ratio Return per unit of total volatility	-0.10	2.57	-2.67
Sortino ratio Return per unit of downside risk	0.21	3.37	-3.16
Omega ratio Gain probability vs. loss probability	1.06	1.44	-0.38
Calmar ratio Return relative to maximum drawdown	-0.14	3.41	-3.55
Martin ratio Return relative to average drawdown	-0.29	13.03	-13.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AIRYY vs. ^NDX - Sharpe Ratio Comparison

The current AIRYY Sharpe Ratio is -0.10, which is lower than the ^NDX Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of AIRYY and ^NDX, 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

	AIRYY	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	2.57	-2.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	0.77	-0.91
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.00	0.94	-0.94
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.57	-0.59

Drawdowns

AIRYY vs. ^NDX - Drawdown Comparison

The maximum AIRYY drawdown since its inception was -88.18%, which is greater than ^NDX's maximum drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for AIRYY and ^NDX.

Drawdown Indicators

	AIRYY	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-88.18%	-82.90%	-5.28%
Max Drawdown (1Y) Largest decline over 1 year	-36.71%	-12.12%	-24.59%
Max Drawdown (3Y) Largest decline over 3 years	-51.89%	-22.93%	-28.96%
Max Drawdown (5Y) Largest decline over 5 years	-59.94%	-35.56%	-24.38%
Max Drawdown (10Y) Largest decline over 10 years	-74.71%	-35.56%	-39.15%
Current Drawdown Current decline from peak	-60.85%	-0.29%	-60.56%
Average Drawdown Average peak-to-trough decline	-50.50%	-24.62%	-25.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.62%	3.17%	+14.45%

Volatility

AIRYY vs. ^NDX - Volatility Comparison

The current volatility for Air China Ltd ADR (AIRYY) is 0.00%, while NASDAQ 100 Index (^NDX) has a volatility of 4.52%. This indicates that AIRYY experiences smaller price fluctuations and is considered to be less risky than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIRYY	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	4.52%	-4.52%
Volatility (6M) Calculated over the trailing 6-month period	38.65%	12.18%	+26.47%
Volatility (1Y) Calculated over the trailing 1-year period	49.88%	16.08%	+33.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.73%	22.60%	+23.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.13%	22.53%	+21.60%

Frequently Asked Questions

Can I hold both AIRYY and ^NDX in my portfolio?

AIRYY and ^NDX have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIRYY or ^NDX?

^NDX has higher volatility (4.52%) compared to AIRYY (0.00%). In terms of maximum drawdown, AIRYY dropped -88.18% vs ^NDX's -82.90%.

Which has better risk-adjusted returns?

^NDX currently has the higher Sharpe Ratio (2.57 vs -0.10), 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.