HAL.NS vs. MAZDOCK.NS

Last updated Jun 13, 2026

HAL.NS (Hindustan Aeronautics Limited) and MAZDOCK.NS (Mazagon Dock Shipbuilders Limited) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 5 years, HAL.NS returned 78.89%/yr vs 110.02%/yr for MAZDOCK.NS. At a 0.48 correlation, their price movements are largely independent.

Performance

HAL.NS vs. MAZDOCK.NS - Performance Comparison

The chart below illustrates the hypothetical performance of a ₹10,000 investment in Hindustan Aeronautics Limited (HAL.NS) and Mazagon Dock Shipbuilders Limited (MAZDOCK.NS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HAL.NS achieves a -3.68% return, which is significantly lower than MAZDOCK.NS's -2.92% return.

HAL.NS

• 1D: 0.48%
• 1M: -9.23%
• YTD: -3.68%
• 6M: -1.75%
• 1Y: -14.42%
• 3Y*: 68.44%
• 5Y*: 78.89%
• 10Y*: —

MAZDOCK.NS

• 1D: 2.67%
• 1M: -4.30%
• YTD: -2.92%
• 6M: -1.67%
• 1Y: -24.46%
• 3Y*: 113.50%
• 5Y*: 110.02%
• 10Y*: —

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

HAL.NS vs. MAZDOCK.NS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HAL.NS Hindustan Aeronautics Limited	-3.68%	6.15%	50.52%	352.89%	122.59%	50.17%	11.51%
MAZDOCK.NS Mazagon Dock Shipbuilders Limited	-2.92%	12.25%	297.56%	193.96%	208.20%	36.22%	1.66%

Correlation

The correlation between HAL.NS and MAZDOCK.NS is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Oct 12, 2020	0.48

The correlation between HAL.NS and MAZDOCK.NS shifts across timeframes, from 0.48 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HAL.NS vs. MAZDOCK.NS — Risk / Return Rank

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

HAL.NS

HAL.NS Risk / Return Rank: 20
HAL.NS Sharpe Ratio Rank: 18
HAL.NS Sortino Ratio Rank: 18
HAL.NS Omega Ratio Rank: 19
HAL.NS Calmar Ratio Rank: 26
HAL.NS Martin Ratio Rank: 18

MAZDOCK.NS

MAZDOCK.NS Risk / Return Rank: 15
MAZDOCK.NS Sharpe Ratio Rank: 12
MAZDOCK.NS Sortino Ratio Rank: 13
MAZDOCK.NS Omega Ratio Rank: 14
MAZDOCK.NS Calmar Ratio Rank: 18
MAZDOCK.NS Martin Ratio Rank: 18

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.

HAL.NS vs. MAZDOCK.NS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hindustan Aeronautics Limited (HAL.NS) and Mazagon Dock Shipbuilders Limited (MAZDOCK.NS). 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.

	HAL.NS	MAZDOCK.NS	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	-0.72	+0.17
Sortino ratio: Return per unit of downside risk	-0.63	-0.96	+0.33
Omega ratio: Gain probability vs. loss probability	0.92	0.89	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.49	-0.66	+0.17
Martin ratio: Return relative to average drawdown	-1.14	-1.14	0.00

HAL.NS vs. MAZDOCK.NS - Sharpe Ratio Comparison

The current HAL.NS Sharpe Ratio is -0.55, which is comparable to the MAZDOCK.NS Sharpe Ratio of -0.72. The chart below compares the historical Sharpe Ratios of HAL.NS and MAZDOCK.NS, 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

HAL.NS vs. MAZDOCK.NS - Drawdown Comparison

The maximum HAL.NS drawdown since its inception was -51.01%, which is greater than MAZDOCK.NS's maximum drawdown of -44.60%. Use the drawdown chart below to compare losses from any high point for HAL.NS and MAZDOCK.NS.

Drawdown Indicators

	HAL.NS	MAZDOCK.NS	Difference
Max Drawdown Largest peak-to-trough decline	-51.01%	-44.60%	-6.41%
Max Drawdown (1Y) Largest decline over 1 year	-30.33%	-37.83%	+7.50%
Max Drawdown (3Y) Largest decline over 3 years	-44.52%	-44.60%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-44.52%	-44.60%	+0.08%
Current Drawdown Current decline from peak	-23.80%	-35.35%	+11.55%
Average Drawdown Average peak-to-trough decline	-17.82%	-13.73%	-4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.52%	23.51%	-9.99%

Volatility

HAL.NS vs. MAZDOCK.NS - Volatility Comparison

Hindustan Aeronautics Limited (HAL.NS) has a higher volatility of 6.43% compared to Mazagon Dock Shipbuilders Limited (MAZDOCK.NS) at 5.72%. This indicates that HAL.NS's price experiences larger fluctuations and is considered to be riskier than MAZDOCK.NS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAL.NS	MAZDOCK.NS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.43%	5.72%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	22.13%	28.75%	-6.62%
Volatility (1Y) Calculated over the trailing 1-year period	26.71%	34.82%	-8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.18%	66.87%	-11.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.70%	65.48%	-15.78%

Dividends

HAL.NS vs. MAZDOCK.NS - Dividend Comparison

HAL.NS's dividend yield for the trailing twelve months is around 1.19%, more than MAZDOCK.NS's 0.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HAL.NS Hindustan Aeronautics Limited	1.19%	0.91%	0.84%	0.62%	4.42%	4.79%	11.40%	5.42%
MAZDOCK.NS Mazagon Dock Shipbuilders Limited	0.67%	0.47%	0.79%	1.95%	4.50%	5.19%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both HAL.NS and MAZDOCK.NS in my portfolio?

HAL.NS and MAZDOCK.NS have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.