FIA1S.HE vs. RYAAY

Last updated Jun 5, 2026

FIA1S.HE (Finnair Oyj) and RYAAY (Ryanair Holdings plc) are both stocks. Both operate in the Airlines industry within the Industrials sector. Over the past 10 years, FIA1S.HE returned -10.49%/yr vs 5.41%/yr for RYAAY. At a 0.23 correlation, their price movements are largely independent.

Performance

FIA1S.HE vs. RYAAY - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Finnair Oyj (FIA1S.HE) and Ryanair Holdings plc (RYAAY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FIA1S.HE is traded in EUR, while RYAAY is traded in USD. To make them comparable, the RYAAY values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, FIA1S.HE achieves a 36.07% return, which is significantly higher than RYAAY's -19.65% return. Over the past 10 years, FIA1S.HE has underperformed RYAAY with an annualized return of -10.49%, while RYAAY has yielded a comparatively higher 5.41% annualized return.

FIA1S.HE

• 1D: -2.05%
• 1M: 23.81%
• YTD: 36.07%
• 6M: 50.44%
• 1Y: 51.01%
• 3Y*: -21.55%
• 5Y*: -17.99%
• 10Y*: -10.49%

RYAAY

• 1D: -0.45%
• 1M: 5.36%
• YTD: -19.65%
• 6M: -11.50%
• 1Y: 2.51%
• 3Y*: 9.06%
• 5Y*: 6.65%
• 10Y*: 5.41%

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

FIA1S.HE vs. RYAAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIA1S.HE Finnair Oyj	36.07%	47.17%	-44.43%	-38.93%	-34.78%	-21.43%	-30.04%	-14.09%	-43.29%	225.72%
RYAAY Ryanair Holdings plc	-19.65%	48.95%	-10.61%	73.04%	-22.41%	0.00%	15.19%	25.58%	-28.31%	9.76%

Correlation

The correlation between FIA1S.HE and RYAAY is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Aug 28, 2007	0.23

The correlation between FIA1S.HE and RYAAY shifts across timeframes, from 0.23 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FIA1S.HE vs. RYAAY — Risk / Return Rank

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

FIA1S.HE

FIA1S.HE Risk / Return Rank: 74
FIA1S.HE Sharpe Ratio Rank: 75
FIA1S.HE Sortino Ratio Rank: 74
FIA1S.HE Omega Ratio Rank: 70
FIA1S.HE Calmar Ratio Rank: 76
FIA1S.HE Martin Ratio Rank: 73

RYAAY

RYAAY Risk / Return Rank: 44
RYAAY Sharpe Ratio Rank: 47
RYAAY Sortino Ratio Rank: 41
RYAAY Omega Ratio Rank: 40
RYAAY Calmar Ratio Rank: 45
RYAAY Martin Ratio Rank: 46

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.

FIA1S.HE vs. RYAAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Finnair Oyj (FIA1S.HE) and Ryanair Holdings plc (RYAAY). 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.

	FIA1S.HE	RYAAY	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.08	+1.08
Sortino ratio: Return per unit of downside risk	1.92	0.37	+1.55
Omega ratio: Gain probability vs. loss probability	1.23	1.04	+0.18
Calmar ratio: Return relative to maximum drawdown	2.17	0.09	+2.07
Martin ratio: Return relative to average drawdown	4.50	0.22	+4.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIA1S.HE vs. RYAAY - Sharpe Ratio Comparison

The current FIA1S.HE Sharpe Ratio is 1.16, which is higher than the RYAAY Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of FIA1S.HE and RYAAY, 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

	FIA1S.HE	RYAAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	0.08	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.35	0.20	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.20	0.15	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.26	-0.28

Drawdowns

FIA1S.HE vs. RYAAY - Drawdown Comparison

The maximum FIA1S.HE drawdown since its inception was -94.54%, which is greater than RYAAY's maximum drawdown of -65.49%. Use the drawdown chart below to compare losses from any high point for FIA1S.HE and RYAAY.

Drawdown Indicators

	FIA1S.HE	RYAAY	Difference
Max Drawdown Largest peak-to-trough decline	-94.54%	-65.49%	-29.05%
Max Drawdown (1Y) Largest decline over 1 year	-23.79%	-27.20%	+3.41%
Max Drawdown (3Y) Largest decline over 3 years	-78.71%	-35.94%	-42.77%
Max Drawdown (5Y) Largest decline over 5 years	-82.85%	-46.16%	-36.69%
Max Drawdown (10Y) Largest decline over 10 years	-94.54%	-59.29%	-35.25%
Current Drawdown Current decline from peak	-88.50%	-21.59%	-66.91%
Average Drawdown Average peak-to-trough decline	-50.39%	-20.77%	-29.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.41%	11.34%	+0.07%

Volatility

FIA1S.HE vs. RYAAY - Volatility Comparison

Finnair Oyj (FIA1S.HE) has a higher volatility of 14.84% compared to Ryanair Holdings plc (RYAAY) at 13.01%. This indicates that FIA1S.HE's price experiences larger fluctuations and is considered to be riskier than RYAAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIA1S.HE	RYAAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.84%	13.01%	+1.83%
Volatility (6M) Calculated over the trailing 6-month period	36.53%	27.30%	+9.23%
Volatility (1Y) Calculated over the trailing 1-year period	44.55%	33.39%	+11.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.28%	34.00%	+17.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.70%	35.85%	+17.85%

Dividends

FIA1S.HE vs. RYAAY - Dividend Comparison

FIA1S.HE's dividend yield for the trailing twelve months is around 2.38%, more than RYAAY's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIA1S.HE Finnair Oyj	2.38%	3.50%	0.00%	0.00%	0.00%	0.00%	0.00%	4.66%	4.23%	0.78%	0.00%	0.00%
RYAAY Ryanair Holdings plc	1.74%	1.39%	2.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.27%

Financials

Frequently Asked Questions

Can I hold both FIA1S.HE and RYAAY in my portfolio?

FIA1S.HE and RYAAY have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.