FIA1S.HE vs. ZEAL.CO

Last updated Jun 13, 2026

FIA1S.HE (Finnair Oyj) and ZEAL.CO (Zealand Pharma A/S) are both stocks. FIA1S.HE operates in Airlines (Industrials), while ZEAL.CO operates in Biotechnology (Healthcare). Over the past 10 years, FIA1S.HE returned -9.57%/yr vs 10.46%/yr for ZEAL.CO. At a 0.10 correlation, their price movements are largely independent.

Performance

FIA1S.HE vs. ZEAL.CO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Finnair Oyj (FIA1S.HE) and Zealand Pharma A/S (ZEAL.CO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FIA1S.HE is traded in EUR, while ZEAL.CO is traded in DKK. To make them comparable, the ZEAL.CO 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 48.09% return, which is significantly higher than ZEAL.CO's -36.67% return. Over the past 10 years, FIA1S.HE has underperformed ZEAL.CO with an annualized return of -9.57%, while ZEAL.CO has yielded a comparatively higher 10.46% annualized return.

FIA1S.HE

• 1D: 9.33%
• 1M: 25.90%
• YTD: 48.09%
• 6M: 61.45%
• 1Y: 65.61%
• 3Y*: -20.95%
• 5Y*: -16.81%
• 10Y*: -9.57%

ZEAL.CO

• 1D: 0.46%
• 1M: -4.85%
• YTD: -36.67%
• 6M: -40.06%
• 1Y: -37.81%
• 3Y*: 2.12%
• 5Y*: 8.24%
• 10Y*: 10.46%

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

FIA1S.HE vs. ZEAL.CO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIA1S.HE Finnair Oyj	48.09%	47.17%	-44.47%	-38.96%	-34.73%	-21.46%	-29.59%	-16.98%	-44.73%	218.08%
ZEAL.CO Zealand Pharma A/S	-36.67%	-34.85%	91.05%	85.41%	38.38%	-34.03%	-5.89%	184.84%	-3.18%	-20.34%

Correlation

The correlation between FIA1S.HE and ZEAL.CO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since Nov 23, 2010	0.11

Return for Risk

FIA1S.HE vs. ZEAL.CO — 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: 80
FIA1S.HE Sharpe Ratio Rank: 82
FIA1S.HE Sortino Ratio Rank: 81
FIA1S.HE Omega Ratio Rank: 77
FIA1S.HE Calmar Ratio Rank: 82
FIA1S.HE Martin Ratio Rank: 79

ZEAL.CO

ZEAL.CO Risk / Return Rank: 18
ZEAL.CO Sharpe Ratio Rank: 18
ZEAL.CO Sortino Ratio Rank: 23
ZEAL.CO Omega Ratio Rank: 22
ZEAL.CO Calmar Ratio Rank: 18
ZEAL.CO Martin Ratio Rank: 9

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. ZEAL.CO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Finnair Oyj (FIA1S.HE) and Zealand Pharma A/S (ZEAL.CO). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FIA1S.HE	ZEAL.CO	Difference
Sharpe ratio: Return per unit of total volatility	1.45	-0.55	+2.00
Sortino ratio: Return per unit of downside risk	2.30	-0.38	+2.68
Omega ratio: Gain probability vs. loss probability	1.27	0.94	+0.33
Calmar ratio: Return relative to maximum drawdown	2.78	-0.67	+3.45
Martin ratio: Return relative to average drawdown	5.86	-1.40	+7.26

FIA1S.HE vs. ZEAL.CO - Sharpe Ratio Comparison

The current FIA1S.HE Sharpe Ratio is 1.45, which is higher than the ZEAL.CO Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of FIA1S.HE and ZEAL.CO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FIA1S.HE vs. ZEAL.CO - Drawdown Comparison

The maximum FIA1S.HE drawdown since its inception was -94.83%, which is greater than ZEAL.CO's maximum drawdown of -75.45%. Use the drawdown chart below to compare losses from any high point for FIA1S.HE and ZEAL.CO.

Drawdown Indicators

	FIA1S.HE	ZEAL.CO	Difference
Max Drawdown Largest peak-to-trough decline	-94.83%	-75.45%	-19.38%
Max Drawdown (1Y) Largest decline over 1 year	-23.83%	-56.98%	+33.15%
Max Drawdown (3Y) Largest decline over 3 years	-78.72%	-75.45%	-3.27%
Max Drawdown (5Y) Largest decline over 5 years	-82.86%	-75.45%	-7.41%
Max Drawdown (10Y) Largest decline over 10 years	-94.83%	-75.45%	-19.38%
Current Drawdown Current decline from peak	-88.15%	-69.11%	-19.04%
Average Drawdown Average peak-to-trough decline	-65.70%	-30.83%	-34.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.43%	28.63%	-17.20%

Volatility

FIA1S.HE vs. ZEAL.CO - Volatility Comparison

The current volatility for Finnair Oyj (FIA1S.HE) is 15.83%, while Zealand Pharma A/S (ZEAL.CO) has a volatility of 32.27%. This indicates that FIA1S.HE experiences smaller price fluctuations and is considered to be less risky than ZEAL.CO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIA1S.HE	ZEAL.CO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.83%	32.27%	-16.44%
Volatility (6M) Calculated over the trailing 6-month period	37.94%	63.20%	-25.26%
Volatility (1Y) Calculated over the trailing 1-year period	45.84%	69.17%	-23.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.55%	61.59%	-10.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.84%	52.99%	+0.85%

Dividends

FIA1S.HE vs. ZEAL.CO - Dividend Comparison

FIA1S.HE's dividend yield for the trailing twelve months is around 2.19%, while ZEAL.CO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIA1S.HE Finnair Oyj	2.19%	3.50%	0.00%	0.00%	0.00%	0.00%	0.51%	0.01%	0.01%	0.00%
ZEAL.CO Zealand Pharma A/S	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

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

FIA1S.HE and ZEAL.CO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.