HO.PA vs. LDO.MI
HO.PA (Thales S.A.) and LDO.MI (Leonardo S.p.A.) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 10 years, HO.PA returned 13.72%/yr vs 19.15%/yr for LDO.MI. At a 0.38 correlation, their price movements are largely independent.
Performance
HO.PA vs. LDO.MI - Performance Comparison
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Returns By Period
In the year-to-date period, HO.PA achieves a 1.45% return, which is significantly lower than LDO.MI's 4.27% return. Over the past 10 years, HO.PA has underperformed LDO.MI with an annualized return of 13.72%, while LDO.MI has yielded a comparatively higher 19.15% annualized return.
HO.PA
- 1D
- 2.27%
- 1M
- 2.30%
- YTD
- 1.45%
- 6M
- 2.70%
- 1Y
- -10.46%
- 3Y*
- 22.61%
- 5Y*
- 24.73%
- 10Y*
- 13.72%
LDO.MI
- 1D
- 0.77%
- 1M
- -3.57%
- YTD
- 4.27%
- 6M
- 8.60%
- 1Y
- -1.50%
- 3Y*
- 72.08%
- 5Y*
- 49.78%
- 10Y*
- 19.15%
HO.PA vs. LDO.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HO.PA Thales S.A. | 1.45% | 68.36% | 5.76% | 14.78% | 63.17% | 2.31% | -18.62% | -7.22% | 15.39% | -0.71% |
LDO.MI Leonardo S.p.A. | 4.27% | 91.71% | 75.81% | 87.64% | 29.81% | 6.60% | -42.19% | 38.03% | -21.39% | -24.95% |
Correlation
The correlation between HO.PA and LDO.MI is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 1993 | 0.38 |
Over the past year, HO.PA and LDO.MI have become more correlated (0.73) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
HO.PA vs. LDO.MI — Risk / Return Rank
HO.PA
LDO.MI
HO.PA vs. LDO.MI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thales S.A. (HO.PA) and Leonardo S.p.A. (LDO.MI). 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.
| HO.PA | LDO.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.02 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | -0.10 | -0.53 |
| Martin ratioReturn relative to average drawdown | -1.10 | -0.21 | -0.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HO.PA | LDO.MI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | -0.06 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 1.38 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.50 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.18 | +0.12 |
Drawdowns
HO.PA vs. LDO.MI - Drawdown Comparison
The maximum HO.PA drawdown since its inception was -66.14%, smaller than the maximum LDO.MI drawdown of -90.12%. Use the drawdown chart below to compare losses from any high point for HO.PA and LDO.MI.
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Drawdown Indicators
| HO.PA | LDO.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.14% | -90.12% | +23.98% |
Max Drawdown (1Y)Largest decline over 1 year | -19.60% | -23.76% | +4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -20.55% | -23.76% | +3.21% |
Max Drawdown (5Y)Largest decline over 5 years | -21.97% | -33.70% | +11.73% |
Max Drawdown (10Y)Largest decline over 10 years | -53.77% | -73.16% | +19.39% |
Current DrawdownCurrent decline from peak | -14.23% | -20.23% | +6.00% |
Average DrawdownAverage peak-to-trough decline | -21.20% | -52.87% | +31.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.14% | 11.58% | -1.44% |
Volatility
HO.PA vs. LDO.MI - Volatility Comparison
The current volatility for Thales S.A. (HO.PA) is 8.71%, while Leonardo S.p.A. (LDO.MI) has a volatility of 10.58%. This indicates that HO.PA experiences smaller price fluctuations and is considered to be less risky than LDO.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HO.PA | LDO.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.71% | 10.58% | -1.87% |
Volatility (6M)Calculated over the trailing 6-month period | 23.36% | 29.75% | -6.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.26% | 41.24% | -9.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.14% | 35.63% | -7.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.56% | 37.73% | -10.17% |
Dividends
HO.PA vs. LDO.MI - Dividend Comparison
HO.PA's dividend yield for the trailing twelve months is around 1.70%, more than LDO.MI's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HO.PA Thales S.A. | 1.70% | 1.65% | 2.49% | 2.27% | 2.23% | 2.62% | 0.53% | 2.36% | 1.76% | 1.84% | 1.53% | 1.64% |
LDO.MI Leonardo S.p.A. | 1.01% | 1.06% | 1.08% | 0.94% | 1.74% | 0.00% | 2.37% | 1.34% | 1.82% | 1.41% | 0.00% | 0.00% |
Financials
HO.PA vs. LDO.MI - Financials Comparison
This section allows you to compare key financial metrics between Thales S.A. and Leonardo S.p.A.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
HO.PA and LDO.MI have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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