INDIGO.NS vs. FTNT

Last updated Jun 5, 2026

INDIGO.NS (InterGlobe Aviation Limited) and FTNT (Fortinet, Inc.) are both stocks. INDIGO.NS operates in Airlines (Industrials), while FTNT operates in Software - Infrastructure (Technology). Over the past 10 years, INDIGO.NS returned 16.67%/yr vs 40.93%/yr for FTNT. At a correlation of -0.00, they often move in opposite directions.

Performance

INDIGO.NS vs. FTNT - Performance Comparison

The chart below illustrates the hypothetical performance of a ₹10,000 investment in InterGlobe Aviation Limited (INDIGO.NS) and Fortinet, Inc. (FTNT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

INDIGO.NS is traded in INR, while FTNT is traded in USD. To make them comparable, the FTNT values have been converted to INR using the latest available exchange rates.

Returns By Period

In the year-to-date period, INDIGO.NS achieves a -10.88% return, which is significantly lower than FTNT's 100.95% return. Over the past 10 years, INDIGO.NS has underperformed FTNT with an annualized return of 16.67%, while FTNT has yielded a comparatively higher 40.93% annualized return.

INDIGO.NS

• 1D: -0.07%
• 1M: 6.38%
• YTD: -10.88%
• 6M: -17.06%
• 1Y: -16.61%
• 3Y*: 23.41%
• 5Y*: 20.82%
• 10Y*: 16.67%

FTNT

• 1D: 2.26%
• 1M: 67.50%
• YTD: 100.95%
• 6M: 87.44%
• 1Y: 64.35%
• 3Y*: 34.60%
• 5Y*: 34.66%
• 10Y*: 40.93%

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

INDIGO.NS vs. FTNT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INDIGO.NS InterGlobe Aviation Limited	-10.88%	11.28%	53.49%	47.79%	-0.49%	17.07%	29.23%	14.82%	-2.72%	50.66%
FTNT Fortinet, Inc.	100.95%	-11.93%	66.31%	20.54%	-24.67%	146.79%	42.62%	55.43%	75.80%	36.04%

Correlation

The correlation between INDIGO.NS and FTNT is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.00
Correlation (All Time) Calculated using the full available price history since Nov 11, 2015	-0.00

The correlation between INDIGO.NS and FTNT shifts across timeframes, from -0.05 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

INDIGO.NS vs. FTNT — Risk / Return Rank

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

INDIGO.NS

INDIGO.NS Risk / Return Rank: 21
INDIGO.NS Sharpe Ratio Rank: 19
INDIGO.NS Sortino Ratio Rank: 19
INDIGO.NS Omega Ratio Rank: 19
INDIGO.NS Calmar Ratio Rank: 26
INDIGO.NS Martin Ratio Rank: 23

FTNT

FTNT Risk / Return Rank: 69
FTNT Sharpe Ratio Rank: 73
FTNT Sortino Ratio Rank: 67
FTNT Omega Ratio Rank: 73
FTNT Calmar Ratio Rank: 71
FTNT Martin Ratio Rank: 63

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.

INDIGO.NS vs. FTNT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InterGlobe Aviation Limited (INDIGO.NS) and Fortinet, Inc. (FTNT). 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.

	INDIGO.NS	FTNT	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	1.45	-1.97
Sortino ratio: Return per unit of downside risk	-0.56	1.91	-2.47
Omega ratio: Gain probability vs. loss probability	0.93	1.31	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.46	2.19	-2.66
Martin ratio: Return relative to average drawdown	-0.91	3.64	-4.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INDIGO.NS vs. FTNT - Sharpe Ratio Comparison

The current INDIGO.NS Sharpe Ratio is -0.52, which is lower than the FTNT Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of INDIGO.NS and FTNT, 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

	INDIGO.NS	FTNT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.52	1.45	-1.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.80	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	1.02	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.91	-0.43

Drawdowns

INDIGO.NS vs. FTNT - Drawdown Comparison

The maximum INDIGO.NS drawdown since its inception was -54.65%, which is greater than FTNT's maximum drawdown of -48.33%. Use the drawdown chart below to compare losses from any high point for INDIGO.NS and FTNT.

Drawdown Indicators

	INDIGO.NS	FTNT	Difference
Max Drawdown Largest peak-to-trough decline	-54.65%	-48.33%	-6.32%
Max Drawdown (1Y) Largest decline over 1 year	-35.94%	-29.47%	-6.47%
Max Drawdown (3Y) Largest decline over 3 years	-35.94%	-37.46%	+1.52%
Max Drawdown (5Y) Largest decline over 5 years	-35.94%	-37.46%	+1.52%
Max Drawdown (10Y) Largest decline over 10 years	-54.65%	-37.46%	-17.19%
Current Drawdown Current decline from peak	-26.75%	0.00%	-26.75%
Average Drawdown Average peak-to-trough decline	-16.94%	-14.12%	-2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.13%	17.73%	+0.40%

Volatility

INDIGO.NS vs. FTNT - Volatility Comparison

The current volatility for InterGlobe Aviation Limited (INDIGO.NS) is 8.52%, while Fortinet, Inc. (FTNT) has a volatility of 20.08%. This indicates that INDIGO.NS experiences smaller price fluctuations and is considered to be less risky than FTNT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDIGO.NS	FTNT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	20.08%	-11.56%
Volatility (6M) Calculated over the trailing 6-month period	27.64%	31.27%	-3.63%
Volatility (1Y) Calculated over the trailing 1-year period	31.84%	44.66%	-12.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.71%	43.36%	-11.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.36%	40.33%	-4.97%

Dividends

INDIGO.NS vs. FTNT - Dividend Comparison

INDIGO.NS's dividend yield for the trailing twelve months is around 0.22%, while FTNT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTNT Fortinet, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
INDIGO.NS InterGlobe Aviation Limited	0.22%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.37%	0.51%	2.82%	1.83%

Financials

Frequently Asked Questions

Can I hold both INDIGO.NS and FTNT in my portfolio?

INDIGO.NS and FTNT have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.