MELI vs. INDIGO.NS

Last updated Jun 13, 2026

MELI (MercadoLibre, Inc.) and INDIGO.NS (InterGlobe Aviation Limited) are both stocks. MELI operates in Internet Retail (Consumer Cyclical), while INDIGO.NS operates in Airlines (Industrials). Over the past 10 years, MELI returned 28.09%/yr vs 13.53%/yr for INDIGO.NS. At a 0.07 correlation, their price movements are largely independent.

Performance

MELI vs. INDIGO.NS - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, MELI achieves a -21.08% return, which is significantly lower than INDIGO.NS's -12.08% return. Over the past 10 years, MELI has outperformed INDIGO.NS with an annualized return of 28.09%, while INDIGO.NS has yielded a comparatively lower 13.53% annualized return.

MELI

• 1D: -1.27%
• 1M: 1.77%
• YTD: -21.08%
• 6M: -21.15%
• 1Y: -32.89%
• 3Y*: 9.54%
• 5Y*: 2.68%
• 10Y*: 28.09%

INDIGO.NS

• 1D: 4.64%
• 1M: 11.30%
• YTD: -12.08%
• 6M: -7.77%
• 1Y: -22.41%
• 3Y*: 20.37%
• 5Y*: 15.18%
• 10Y*: 13.53%

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

MELI vs. INDIGO.NS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MELI MercadoLibre, Inc.	-21.08%	18.46%	8.20%	85.71%	-37.24%	-19.51%	192.90%	95.30%	-6.93%	101.99%
INDIGO.NS InterGlobe Aviation Limited	-12.08%	5.98%	49.27%	47.03%	-10.44%	14.76%	26.43%	11.94%	-10.86%	60.39%

Correlation

The correlation between MELI and INDIGO.NS is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Nov 10, 2015	0.07

Return for Risk

MELI vs. INDIGO.NS — Risk / Return Rank

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

MELI

MELI Risk / Return Rank: 11
MELI Sharpe Ratio Rank: 9
MELI Sortino Ratio Rank: 12
MELI Omega Ratio Rank: 11
MELI Calmar Ratio Rank: 12
MELI Martin Ratio Rank: 9

INDIGO.NS

INDIGO.NS Risk / Return Rank: 25
INDIGO.NS Sharpe Ratio Rank: 23
INDIGO.NS Sortino Ratio Rank: 22
INDIGO.NS Omega Ratio Rank: 22
INDIGO.NS Calmar Ratio Rank: 29
INDIGO.NS Martin Ratio Rank: 28

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.

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

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

	MELI	INDIGO.NS	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	-0.66	-0.17
Sortino ratio: Return per unit of downside risk	-1.03	-0.82	-0.21
Omega ratio: Gain probability vs. loss probability	0.86	0.90	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.81	-0.56	-0.25
Martin ratio: Return relative to average drawdown	-1.42	-1.05	-0.37

MELI vs. INDIGO.NS - Sharpe Ratio Comparison

The current MELI Sharpe Ratio is -0.84, which is comparable to the INDIGO.NS Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of MELI and INDIGO.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

MELI vs. INDIGO.NS - Drawdown Comparison

The maximum MELI drawdown since its inception was -89.49%, which is greater than INDIGO.NS's maximum drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for MELI and INDIGO.NS.

Drawdown Indicators

	MELI	INDIGO.NS	Difference
Max Drawdown Largest peak-to-trough decline	-89.49%	-58.03%	-31.46%
Max Drawdown (1Y) Largest decline over 1 year	-40.82%	-40.87%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-40.82%	-40.87%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-68.64%	-40.87%	-27.77%
Max Drawdown (10Y) Largest decline over 10 years	-69.12%	-58.03%	-11.09%
Current Drawdown Current decline from peak	-39.18%	-30.01%	-9.17%
Average Drawdown Average peak-to-trough decline	-23.58%	-19.12%	-4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.24%	21.57%	+1.67%

Volatility

MELI vs. INDIGO.NS - Volatility Comparison

MercadoLibre, Inc. (MELI) has a higher volatility of 9.96% compared to InterGlobe Aviation Limited (INDIGO.NS) at 9.29%. This indicates that MELI's price experiences larger fluctuations and is considered to be riskier than INDIGO.NS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MELI	INDIGO.NS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.96%	9.29%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	29.79%	29.93%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	39.48%	34.57%	+4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.65%	32.95%	+16.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.88%	36.52%	+12.36%

Dividends

MELI vs. INDIGO.NS - Dividend Comparison

MELI has not paid dividends to shareholders, while INDIGO.NS's dividend yield for the trailing twelve months is around 0.21%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDIGO.NS InterGlobe Aviation Limited	0.21%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.37%	0.51%	2.82%	1.83%	0.00%
MELI MercadoLibre, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.19%	0.38%	0.36%

Financials

Frequently Asked Questions

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

MELI and INDIGO.NS have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.