We have investigated the different optical properties such as confinement loss, waveguide dispersion of a five rings hexagonal photonic crystal fiber under varied air hole diameter (d), lattice pitch (Λ), and air hole diameter to lattice pitch ratio for three different materials fused quartz glass, borosilicate glass and sapphire glass. We observed low confinement loss and high negative dispersion at higher d/Λ. Achieving high d/Λ can be done in two ways: increasing the air hole diameter or decreasing the lattice pitch. It has been observed, increasing the air hole diameter has significant effect over reducing lattice pitch in achieving low confinement loss. On the other hand, decreasing the lattice pitch over increasing the air hole diameter has significant effect in achieving high negative dispersion. It has also been found that, effective refractive index () decreases significantly when lattice pitch decreases.