CHG.L vs. AIR.PA

Last updated Jun 4, 2026

CHG.L (Chemring Group plc) and AIR.PA (Airbus SE) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 10 years, CHG.L returned 15.84%/yr vs 14.84%/yr for AIR.PA. At a 0.26 correlation, their price movements are largely independent.

Performance

CHG.L vs. AIR.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Chemring Group plc (CHG.L) and Airbus SE (AIR.PA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CHG.L is traded in GBp, while AIR.PA is traded in EUR. To make them comparable, the AIR.PA values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CHG.L achieves a 6.73% return, which is significantly higher than AIR.PA's -13.81% return. Over the past 10 years, CHG.L has outperformed AIR.PA with an annualized return of 15.84%, while AIR.PA has yielded a comparatively lower 14.84% annualized return.

CHG.L

• 1D: -0.12%
• 1M: -4.24%
• YTD: 6.73%
• 6M: 6.06%
• 1Y: -2.34%
• 3Y*: 24.81%
• 5Y*: 11.16%
• 10Y*: 15.84%

AIR.PA

• 1D: -1.95%
• 1M: -3.84%
• YTD: -13.81%
• 6M: -13.91%
• 1Y: 6.49%
• 3Y*: 11.78%
• 5Y*: 10.92%
• 10Y*: 14.84%

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

CHG.L vs. AIR.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHG.L Chemring Group plc	6.73%	46.54%	-4.46%	20.37%	2.15%	5.20%	20.90%	52.51%	-10.88%	9.42%
AIR.PA Airbus SE	-13.81%	38.08%	6.90%	25.15%	5.40%	17.73%	-27.30%	48.66%	3.86%	40.38%

Correlation

The correlation between CHG.L and AIR.PA is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jul 2, 2007	0.26

Return for Risk

CHG.L vs. AIR.PA — Risk / Return Rank

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

CHG.L

CHG.L Risk / Return Rank: 36
CHG.L Sharpe Ratio Rank: 38
CHG.L Sortino Ratio Rank: 33
CHG.L Omega Ratio Rank: 32
CHG.L Calmar Ratio Rank: 38
CHG.L Martin Ratio Rank: 38

AIR.PA

AIR.PA Risk / Return Rank: 42
AIR.PA Sharpe Ratio Rank: 45
AIR.PA Sortino Ratio Rank: 38
AIR.PA Omega Ratio Rank: 38
AIR.PA Calmar Ratio Rank: 43
AIR.PA Martin Ratio Rank: 43

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.

CHG.L vs. AIR.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chemring Group plc (CHG.L) and Airbus SE (AIR.PA). 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.

	CHG.L	AIR.PA	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	0.23	-0.30
Sortino ratio: Return per unit of downside risk	0.13	0.53	-0.40
Omega ratio: Gain probability vs. loss probability	1.01	1.06	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.10	0.23	-0.33
Martin ratio: Return relative to average drawdown	-0.19	0.53	-0.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHG.L vs. AIR.PA - Sharpe Ratio Comparison

The current CHG.L Sharpe Ratio is -0.07, which is lower than the AIR.PA Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of CHG.L and AIR.PA, 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

	CHG.L	AIR.PA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.07	0.23	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.38	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.43	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.38	-0.07

Drawdowns

CHG.L vs. AIR.PA - Drawdown Comparison

The maximum CHG.L drawdown since its inception was -79.82%, which is greater than AIR.PA's maximum drawdown of -63.40%. Use the drawdown chart below to compare losses from any high point for CHG.L and AIR.PA.

Drawdown Indicators

	CHG.L	AIR.PA	Difference
Max Drawdown Largest peak-to-trough decline	-79.82%	-63.40%	-16.42%
Max Drawdown (1Y) Largest decline over 1 year	-23.04%	-27.57%	+4.53%
Max Drawdown (3Y) Largest decline over 3 years	-27.69%	-27.57%	-0.12%
Max Drawdown (5Y) Largest decline over 5 years	-29.12%	-27.57%	-1.55%
Max Drawdown (10Y) Largest decline over 10 years	-41.54%	-63.40%	+21.86%
Current Drawdown Current decline from peak	-15.81%	-21.97%	+6.16%
Average Drawdown Average peak-to-trough decline	-34.36%	-14.46%	-19.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.98%	12.20%	-0.22%

Volatility

CHG.L vs. AIR.PA - Volatility Comparison

Chemring Group plc (CHG.L) has a higher volatility of 13.47% compared to Airbus SE (AIR.PA) at 11.45%. This indicates that CHG.L's price experiences larger fluctuations and is considered to be riskier than AIR.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHG.L	AIR.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.47%	11.45%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	24.16%	22.94%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	32.64%	27.79%	+4.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.38%	28.55%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.47%	34.08%	-1.61%

Dividends

CHG.L vs. AIR.PA - Dividend Comparison

CHG.L's dividend yield for the trailing twelve months is around 1.60%, less than AIR.PA's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIR.PA Airbus SE	1.89%	1.51%	1.16%	1.29%	1.35%	0.00%	0.00%	1.26%	1.79%	1.63%	2.07%	1.94%
CHG.L Chemring Group plc	1.60%	1.67%	2.19%	1.74%	1.71%	1.42%	1.30%	1.41%	1.92%	1.25%	0.00%	2.16%

Financials

Frequently Asked Questions

Can I hold both CHG.L and AIR.PA in my portfolio?

CHG.L and AIR.PA have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.