MMYT vs. FTAI

Last updated Jul 22, 2026

MMYT (MakeMyTrip Limited) and FTAI (Fortress Transportation and Infrastructure Investors LLC) are both stocks. MMYT operates in Travel Services (Consumer Cyclical), while FTAI operates in Rental & Leasing Services (Industrials). Over the past 10 years, MMYT returned 13.01%/yr vs 42.36%/yr for FTAI. At a 0.28 correlation, their price movements are largely independent.

Performance

MMYT vs. FTAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MakeMyTrip Limited (MMYT) and Fortress Transportation and Infrastructure Investors LLC (FTAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMYT achieves a -31.21% return, which is significantly lower than FTAI's 7.17% return. Over the past 10 years, MMYT has underperformed FTAI with an annualized return of 13.01%, while FTAI has yielded a comparatively higher 42.36% annualized return.

MMYT

• 1D: 6.14%
• 1M: 20.91%
• 6M: -24.27%
• YTD: -31.21%
• 1Y: -42.18%
• 3Y*: 25.08%
• 5Y*: 14.38%
• 10Y*: 13.01%
• ALL TIME*: 6.09%

FTAI

• 1D: 5.28%
• 1M: -23.85%
• 6M: -24.72%
• YTD: 7.17%
• 1Y: 86.05%
• 3Y*: 87.01%
• 5Y*: 51.64%
• 10Y*: 42.36%
• ALL TIME*: 33.83%

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

MMYT vs. FTAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMYT MakeMyTrip Limited	-31.21%	-26.86%	139.00%	70.40%	-0.51%	-6.16%	28.95%	-5.88%	-18.49%	34.46%
FTAI Fortress Transportation and Infrastructure Investors LLC	7.17%	38.01%	214.72%	181.65%	-36.67%	29.27%	33.15%	48.05%	-22.18%	62.27%

Correlation

The correlation between MMYT and FTAI is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 15, 2015	0.28

The correlation between MMYT and FTAI shifts across timeframes, from 0.21 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MMYT : $5.36B FTAI : $21.57B
EPS MMYT : $0.51 FTAI : $5.12
PE Ratio MMYT : 109.71 FTAI : 41.05
PEG Ratio MMYT : 0.55 FTAI : 0.03
PS Ratio MMYT : 5.44 FTAI : 7.71
Total Revenue (TTM) MMYT : $1.04B FTAI : $2.84B
Gross Profit (TTM) MMYT : $725.37M FTAI : $922.62M
EBITDA (TTM) MMYT : $204.47M FTAI : $992.07M

Return for Risk

MMYT vs. FTAI — Risk / Return Rank

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

MMYT

MMYT Risk / Return Rank: 15
MMYT Sharpe Ratio Rank: 10
MMYT Sortino Ratio Rank: 12
MMYT Omega Ratio Rank: 13
MMYT Calmar Ratio Rank: 21
MMYT Martin Ratio Rank: 21

FTAI

FTAI Risk / Return Rank: 83
FTAI Sharpe Ratio Rank: 82
FTAI Sortino Ratio Rank: 84
FTAI Omega Ratio Rank: 80
FTAI Calmar Ratio Rank: 83
FTAI Martin Ratio Rank: 83

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.

MMYT vs. FTAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MakeMyTrip Limited (MMYT) and Fortress Transportation and Infrastructure Investors LLC (FTAI). 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.

	MMYT	FTAI	Difference
Sharpe ratio: Return per unit of total volatility	-0.82	1.32	-2.14
Sortino ratio: Return per unit of downside risk	-1.08	2.23	-3.30
Omega ratio: Gain probability vs. loss probability	0.87	1.26	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.65	2.45	-3.10
Martin ratio: Return relative to average drawdown	-1.08	6.09	-7.17

MMYT vs. FTAI - Sharpe Ratio Comparison

The current MMYT Sharpe Ratio is -0.82, which is lower than the FTAI Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of MMYT and FTAI, 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

MMYT vs. FTAI - Drawdown Comparison

The maximum MMYT drawdown since its inception was -73.45%, roughly equal to the maximum FTAI drawdown of -72.79%. Use the drawdown chart below to compare losses from any high point for MMYT and FTAI.

Drawdown Indicators

	MMYT	FTAI	Difference
Max Drawdown Largest peak-to-trough decline	-73.45%	-72.79%	-0.66%
Max Drawdown (1Y) Largest decline over 1 year	-64.83%	-35.37%	-29.46%
Max Drawdown (3Y) Largest decline over 3 years	-69.87%	-52.11%	-17.76%
Max Drawdown (5Y) Largest decline over 5 years	-69.87%	-52.11%	-17.76%
Max Drawdown (10Y) Largest decline over 10 years	-73.45%	-72.79%	-0.66%
Current Drawdown Current decline from peak	-53.10%	-31.96%	-21.14%
Average Drawdown Average peak-to-trough decline	-36.51%	-17.41%	-19.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.95%	14.18%	+24.77%

Volatility

MMYT vs. FTAI - Volatility Comparison

The current volatility for MakeMyTrip Limited (MMYT) is 16.56%, while Fortress Transportation and Infrastructure Investors LLC (FTAI) has a volatility of 17.78%. This indicates that MMYT experiences smaller price fluctuations and is considered to be less risky than FTAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMYT	FTAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.56%	17.78%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	45.15%	47.57%	-2.42%
Volatility (1Y) Calculated over the trailing 1-year period	51.86%	65.58%	-13.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.51%	56.93%	-7.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.68%	51.41%	+2.27%

Dividends

MMYT vs. FTAI - Dividend Comparison

MMYT has not paid dividends to shareholders, while FTAI's dividend yield for the trailing twelve months is around 0.71%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTAI Fortress Transportation and Infrastructure Investors LLC	0.71%	0.64%	0.83%	2.59%	7.54%	4.56%	5.63%	6.76%	9.21%	6.62%	9.92%	4.26%
MMYT MakeMyTrip Limited	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

MMYT vs. FTAI - Profitability Comparison

The chart below illustrates the profitability comparison between MakeMyTrip Limited and Fortress Transportation and Infrastructure Investors LLC over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Portfolio components

MMYT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, MakeMyTrip Limited reported a gross profit of 145.76M and revenue of 250.12M. Therefore, the gross margin over that period was 58.3%.

FTAI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Fortress Transportation and Infrastructure Investors LLC reported a gross profit of 306.43M and revenue of 830.70M. Therefore, the gross margin over that period was 36.9%.

MMYT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, MakeMyTrip Limited reported an operating income of 40.10M and revenue of 250.12M, resulting in an operating margin of 16.0%.

FTAI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Fortress Transportation and Infrastructure Investors LLC reported an operating income of 241.44M and revenue of 830.70M, resulting in an operating margin of 29.1%.

MMYT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, MakeMyTrip Limited reported a net income of 24.25M and revenue of 250.12M, resulting in a net margin of 9.7%.

FTAI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Fortress Transportation and Infrastructure Investors LLC reported a net income of 134.19M and revenue of 830.70M, resulting in a net margin of 16.2%.

Frequently Asked Questions

Can I hold both MMYT and FTAI in my portfolio?

MMYT and FTAI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMYT or FTAI?

FTAI has higher volatility (17.78%) compared to MMYT (16.56%). In terms of maximum drawdown, MMYT dropped -73.45% vs FTAI's -72.79%.

Which has better risk-adjusted returns?

FTAI currently has the higher Sharpe Ratio (1.32 vs -0.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.