ASHOKLEY.NS vs. INDF

Last updated Jun 5, 2026

ASHOKLEY.NS (Ashok Leyland Limited) is a stock, while INDF (Nifty India Financials ETF) is Financials Equities fund tracking the Nifty Financial Services 25/50 Index. At a 0.32 correlation, their price movements are largely independent.

Performance

ASHOKLEY.NS vs. INDF - Performance Comparison

The chart below illustrates the hypothetical performance of a ₹10,000 investment in Ashok Leyland Limited (ASHOKLEY.NS) and Nifty India Financials ETF (INDF). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ASHOKLEY.NS is traded in INR, while INDF is traded in USD. To make them comparable, the INDF values have been converted to INR using the latest available exchange rates.

Returns By Period

ASHOKLEY.NS

• 1D: -0.96%
• 1M: -12.45%
• YTD: -18.02%
• 6M: -8.68%
• 1Y: 26.45%
• 3Y*: 28.67%
• 5Y*: 20.14%
• 10Y*: 12.83%

INDF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ASHOKLEY.NS vs. INDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ASHOKLEY.NS Ashok Leyland Limited	-18.02%	66.53%	26.10%	28.63%	17.94%	28.93%	26.41%
INDF Nifty India Financials ETF	0.00%	10.52%	9.54%	20.69%	4.90%	14.18%	22.95%

Correlation

The correlation between ASHOKLEY.NS and INDF is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Oct 22, 2020	0.32

The correlation between ASHOKLEY.NS and INDF shifts across timeframes, from 0.21 (1 year) to 0.34 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ASHOKLEY.NS vs. INDF — Risk / Return Rank

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

ASHOKLEY.NS

ASHOKLEY.NS Risk / Return Rank: 62
ASHOKLEY.NS Sharpe Ratio Rank: 65
ASHOKLEY.NS Sortino Ratio Rank: 61
ASHOKLEY.NS Omega Ratio Rank: 60
ASHOKLEY.NS Calmar Ratio Rank: 59
ASHOKLEY.NS Martin Ratio Rank: 62

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.

ASHOKLEY.NS vs. INDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ashok Leyland Limited (ASHOKLEY.NS) and Nifty India Financials ETF (INDF). 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.

	ASHOKLEY.NS	INDF	Difference
Sharpe ratio: Return per unit of total volatility	0.75	—	—
Sortino ratio: Return per unit of downside risk	1.32	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	0.83	—	—
Martin ratio: Return relative to average drawdown	2.25	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ASHOKLEY.NS	INDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	—	—

Drawdowns

Drawdown Indicators

	ASHOKLEY.NS	INDF	Difference
Max Drawdown Largest peak-to-trough decline	-77.76%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-30.68%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.81%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-77.76%	—	—
Current Drawdown Current decline from peak	-30.68%	—	—
Average Drawdown Average peak-to-trough decline	-22.88%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	11.34%	—	—

Volatility

Volatility by Period

	ASHOKLEY.NS	INDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	27.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	33.99%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.36%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.72%	—	—

Dividends

ASHOKLEY.NS vs. INDF - Dividend Comparison

ASHOKLEY.NS's dividend yield for the trailing twelve months is around 2.42%, less than INDF's 21.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHOKLEY.NS Ashok Leyland Limited	2.42%	1.74%	3.15%	1.43%	0.70%	0.49%	0.52%	3.80%	2.37%	1.31%	1.19%	0.51%
INDF Nifty India Financials ETF	21.29%	21.29%	6.15%	8.84%	3.12%	1.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASHOKLEY.NS and INDF in my portfolio?

ASHOKLEY.NS and INDF have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.