HRX.TO vs. MDA.TO

Last updated Jun 5, 2026

HRX.TO (Héroux-Devtek Inc.) and MDA.TO (MDA Space Ltd.) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. At a 0.17 correlation, their price movements are largely independent.

Performance

HRX.TO vs. MDA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Héroux-Devtek Inc. (HRX.TO) and MDA Space Ltd. (MDA.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HRX.TO

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MDA.TO

• 1D: 2.17%
• 1M: 29.66%
• YTD: 114.15%
• 6M: 129.12%
• 1Y: 95.24%
• 3Y*: 91.37%
• 5Y*: 30.38%
• 10Y*: —

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

HRX.TO vs. MDA.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HRX.TO Héroux-Devtek Inc.	0.00%	2.20%	109.08%	15.63%	-26.97%	9.36%
MDA.TO MDA Space Ltd.	114.15%	-9.79%	156.34%	80.00%	-32.63%	-34.71%

Correlation

The correlation between HRX.TO and MDA.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Apr 8, 2021	0.17

The correlation between HRX.TO and MDA.TO shifts across timeframes, from 0.08 (3 years) to 0.19 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Total Revenue (TTM) HRX.TO : CA$694.73M MDA.TO : CA$1.75B
Gross Profit (TTM) HRX.TO : CA$139.63M MDA.TO : CA$366.40M
EBITDA (TTM) HRX.TO : CA$113.89M MDA.TO : CA$291.70M

Return for Risk

HRX.TO vs. MDA.TO — Risk / Return Rank

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

MDA.TO

MDA.TO Risk / Return Rank: 76
MDA.TO Sharpe Ratio Rank: 83
MDA.TO Sortino Ratio Rank: 76
MDA.TO Omega Ratio Rank: 79
MDA.TO Calmar Ratio Rank: 73
MDA.TO Martin Ratio Rank: 72

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.

HRX.TO vs. MDA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Héroux-Devtek Inc. (HRX.TO) and MDA Space Ltd. (MDA.TO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HRX.TO	MDA.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.58	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.62	—

Drawdowns

Drawdown Indicators

	HRX.TO	MDA.TO	Difference
Max Drawdown Largest peak-to-trough decline	—	-68.33%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-53.77%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-53.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-65.68%	—
Current Drawdown Current decline from peak	—	-15.02%	—
Average Drawdown Average peak-to-trough decline	—	-30.71%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	24.89%	—

Volatility

Volatility by Period

	HRX.TO	MDA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	44.43%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	63.70%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	49.08%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	49.21%	—

Dividends

HRX.TO vs. MDA.TO - Dividend Comparison

Neither HRX.TO nor MDA.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both HRX.TO and MDA.TO in my portfolio?

HRX.TO and MDA.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.