MAZDOCK.NS vs. HAL.NS

Last updated Jun 13, 2026

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

Performance

MAZDOCK.NS vs. HAL.NS - Performance Comparison

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

Returns By Period

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

MAZDOCK.NS

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

HAL.NS

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

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

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

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

Correlation

The correlation between MAZDOCK.NS and HAL.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 MAZDOCK.NS and HAL.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

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

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

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

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

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.

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

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

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

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

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

MAZDOCK.NS vs. HAL.NS - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

MAZDOCK.NS vs. HAL.NS - Volatility Comparison

The current volatility for Mazagon Dock Shipbuilders Limited (MAZDOCK.NS) is 5.72%, while Hindustan Aeronautics Limited (HAL.NS) has a volatility of 6.43%. This indicates that MAZDOCK.NS experiences smaller price fluctuations and is considered to be less risky than HAL.NS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

Dividends

MAZDOCK.NS vs. HAL.NS - Dividend Comparison

MAZDOCK.NS's dividend yield for the trailing twelve months is around 0.67%, less than HAL.NS's 1.19% 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 MAZDOCK.NS and HAL.NS in my portfolio?

MAZDOCK.NS and HAL.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.