MDA.TO vs. CBOE
MDA.TO (MDA Space Ltd.) and CBOE (Cboe Global Markets, Inc.) are both stocks. MDA.TO operates in Aerospace & Defense (Industrials), while CBOE operates in Financial Data & Stock Exchanges (Financial Services). Over the past 5 years, MDA.TO returned 21.36%/yr vs 23.25%/yr for CBOE. At a 0.01 correlation, their price movements are largely independent.
Performance
MDA.TO vs. CBOE - Performance Comparison
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Different Trading Currencies
MDA.TO is traded in CAD, while CBOE is traded in USD. To make them comparable, the CBOE values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MDA.TO achieves a 56.61% return, which is significantly higher than CBOE's 17.40% return.
MDA.TO
- 1D
- -3.80%
- 1M
- -22.27%
- 6M
- 13.68%
- YTD
- 56.61%
- 1Y
- 2.66%
- 3Y*
- 70.89%
- 5Y*
- 21.36%
- 10Y*
- —
- ALL TIME*
- 22.67%
CBOE
- 1D
- 0.12%
- 1M
- 13.27%
- 6M
- 5.93%
- YTD
- 17.40%
- 1Y
- 21.36%
- 3Y*
- 30.22%
- 5Y*
- 23.25%
- 10Y*
- 17.66%
- ALL TIME*
- 18.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$410.14M | CA$474.18M | CA$578.48M | |
MDA.TO MDA Space Ltd. | CA$59.55M | CA$62.57M | CA$66.44M |
MDA.TO vs. CBOE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MDA.TO MDA Space Ltd. | 56.61% | -9.79% | 156.34% | 80.00% | -32.63% | -32.81% |
CBOE Cboe Global Markets, Inc. | 17.40% | 24.03% | 20.12% | 40.93% | 4.04% | 34.47% |
Correlation
The correlation between MDA.TO and CBOE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2021 | 0.01 |
The correlation between MDA.TO and CBOE shifts across timeframes, from -0.13 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MDA.TO:
CA$5.79B
CBOE:
$29.83B
MDA.TO:
CA$0.81
CBOE:
$11.77
MDA.TO:
51.44
CBOE:
24.23
MDA.TO:
0.21
CBOE:
0.45
MDA.TO:
3.10
CBOE:
6.24
MDA.TO:
3.00
CBOE:
5.57
MDA.TO:
CA$1.75B
CBOE:
$4.79B
MDA.TO:
CA$366.40M
CBOE:
$2.50B
MDA.TO:
CA$291.70M
CBOE:
$1.87B
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Return for Risk
MDA.TO vs. CBOE — Risk / Return Rank
MDA.TO
CBOE
MDA.TO vs. CBOE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MDA Space Ltd. (MDA.TO) and Cboe Global Markets, Inc. (CBOE). 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.
| MDA.TO | CBOE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.15 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.05 | 0.62 | -0.57 |
| Martin ratioReturn relative to average drawdown | 0.10 | 2.07 | -1.97 |
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Drawdowns
MDA.TO vs. CBOE - Drawdown Comparison
The maximum MDA.TO drawdown since its inception was -68.33%, which is greater than CBOE's maximum drawdown of -39.92%. Use the drawdown chart below to compare losses from any high point for MDA.TO and CBOE.
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Drawdown Indicators
| MDA.TO | CBOE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.33% | -39.92% | -28.41% |
Max Drawdown (1Y)Largest decline over 1 year | -53.77% | -34.69% | -19.08% |
Max Drawdown (3Y)Largest decline over 3 years | -53.77% | -34.69% | -19.08% |
Max Drawdown (5Y)Largest decline over 5 years | -65.68% | -34.69% | -30.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.41% | — |
Current DrawdownCurrent decline from peak | -37.85% | -20.13% | -17.72% |
Average DrawdownAverage peak-to-trough decline | -30.50% | -11.00% | -19.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.48% | 10.33% | +16.15% |
Volatility
MDA.TO vs. CBOE - Volatility Comparison
MDA Space Ltd. (MDA.TO) has a higher volatility of 21.85% compared to Cboe Global Markets, Inc. (CBOE) at 10.86%. This indicates that MDA.TO's price experiences larger fluctuations and is considered to be riskier than CBOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDA.TO | CBOE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.85% | 10.86% | +10.99% |
Volatility (6M)Calculated over the trailing 6-month period | 48.45% | 28.56% | +19.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.50% | 31.59% | +36.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.25% | 24.97% | +25.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.04% | 26.58% | +23.46% |
Dividends
MDA.TO vs. CBOE - Dividend Comparison
MDA.TO has not paid dividends to shareholders, while CBOE's dividend yield for the trailing twelve months is around 1.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBOE Cboe Global Markets, Inc. | 1.01% | 1.08% | 1.21% | 1.18% | 1.56% | 1.38% | 1.68% | 1.12% | 1.19% | 0.83% | 1.30% | 1.36% |
MDA.TO MDA Space Ltd. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
MDA.TO vs. CBOE - Financials Comparison
This section allows you to compare key financial metrics between MDA Space Ltd. and Cboe Global Markets, Inc.. 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
MDA.TO vs. CBOE - Profitability Comparison
MDA.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, MDA Space Ltd. reported a gross profit of 84.00M and revenue of 464.10M. Therefore, the gross margin over that period was 18.1%.
CBOE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Cboe Global Markets, Inc. reported a gross profit of 669.90M and revenue of 1.27B. Therefore, the gross margin over that period was 52.6%.
MDA.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, MDA Space Ltd. reported an operating income of 32.30M and revenue of 464.10M, resulting in an operating margin of 7.0%.
CBOE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Cboe Global Markets, Inc. reported an operating income of 505.60M and revenue of 1.27B, resulting in an operating margin of 39.7%.
MDA.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, MDA Space Ltd. reported a net income of 29.60M and revenue of 464.10M, resulting in a net margin of 6.4%.
CBOE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Cboe Global Markets, Inc. reported a net income of 385.70M and revenue of 1.27B, resulting in a net margin of 30.3%.
Frequently Asked Questions
MDA.TO and CBOE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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