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Performance
^HSI Performance Chart
Hang Seng Index (^HSI) is down 5.1% since the beginning of the year. ^HSI is currently trading at HK$24,312 per share. Investors who bought HK$1,000 worth of ^HSI shares 5 years ago would now be looking at an investment worth HK$844.
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Returns By Period
Hang Seng Index (^HSI) has returned -5.14% so far this year and 3.32% over the past 12 months. Over the last ten years, ^HSI has returned 1.72% per year, falling short of the S&P 500 Index benchmark, which averaged 13.65% annually.
Hang Seng Index
- 1D
- 0.00%
- 1M
- -5.05%
- YTD
- -5.14%
- 6M
- -5.37%
- 1Y
- 3.32%
- 3Y*
- 6.88%
- 5Y*
- -3.33%
- 10Y*
- 1.72%
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 9.12%
- 6M
- 9.31%
- 1Y
- 24.11%
- 3Y*
- 19.02%
- 5Y*
- 12.45%
- 10Y*
- 13.65%
^HSI Monthly Returns History
Based on dividend-adjusted daily data since Dec 31, 1986, ^HSI's average daily return is +0.04%, while the average monthly return is +0.74%. At this rate, an investment would double in approximately 7.8 years.
Historically, 56% of months were positive and 44% were negative. The best month was Dec 1993 with a return of +30.3%, while the worst month was Oct 1987 at -44.1%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.
On a daily basis, ^HSI closed higher 52% of trading days. The best single day was Oct 29, 1997 with a return of +18.8%, while the worst single day was Oct 26, 1987 at -33.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.85% | -2.76% | -6.92% | 3.99% | -2.30% | -3.46% | -5.14% | ||||||
| 2025 | 0.82% | 13.43% | 0.78% | -4.33% | 5.29% | 3.36% | 2.91% | 1.23% | 7.09% | -3.53% | -0.18% | -0.88% | 27.77% |
| 2024 | -9.16% | 6.63% | 0.18% | 7.39% | 1.78% | -2.00% | -2.11% | 3.72% | 17.48% | -3.86% | -4.40% | 3.28% | 17.67% |
| 2023 | 10.42% | -9.41% | 3.10% | -2.48% | -8.35% | 3.74% | 6.15% | -8.45% | -3.11% | -3.91% | -0.41% | 0.03% | -13.82% |
| 2022 | 1.73% | -4.58% | -3.15% | -4.13% | 1.54% | 2.08% | -7.79% | -1.00% | -13.69% | -14.72% | 26.62% | 6.37% | -15.46% |
| 2021 | 3.87% | 2.46% | -2.08% | 1.22% | 1.49% | -1.11% | -9.94% | -0.32% | -5.04% | 3.26% | -7.49% | -0.33% | -14.08% |
Benchmark Metrics
Hang Seng Index has an annualized alpha of 0.67%, beta of 0.27, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since December 31, 1986.
- This index participated in 98.62% of S&P 500 Index downside but only 62.38% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.27 may look defensive, but with R2 of 0.05 this index is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this index's risk.
- R2 of 0.05 means this index moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.67%
- Beta
- 0.27
- R²
- 0.05
- Upside Capture
- 62.38%
- Downside Capture
- 98.62%
Return for Risk
Risk / Return Rank
^HSI ranks 13 for risk / return — in the bottom 13% of indices on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Hang Seng Index (^HSI) and compare them to S&P 500 Index.
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.
| ^HSI | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.35 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | 2.73 | -2.53 |
| Martin ratioReturn relative to average drawdown | 0.46 | 12.21 | -11.75 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Hang Seng Index. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Hang Seng Index was 65.18%, occurring on Oct 27, 2008. Recovery took 2275 trading sessions.
The current Hang Seng Index drawdown is 26.67%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -65.18%Oct 2008 | 12mo 2d | 9y 2mo | 10y 2moOct 2007 - Jan 2018 |
1998 bear market1998 | -60.05%Aug 1998 | 1y 5d | 1y 4mo | 2y 4moAug 1997 - Dec 1999 |
Bear market2022 | -55.70%Oct 2022 | 4y 9mo | — | 8y 4moJan 2018 - now |
2003 bear market2003 | -54.05%Apr 2003 | 3y 27d | 3y 6mo | 6y 7moMar 2000 - Oct 2006 |
Black Monday1987 | -52.02%Dec 1987 | 2mo 6d | 3y 7mo | 3y 9moOct 1987 - Jul 1991 |
Drawdown Indicators
| ^HSI | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.18% | -56.80% | -8.38% |
Max Drawdown (1Y)Largest decline over 1 year | -13.30% | -8.77% | -4.53% |
Max Drawdown (3Y)Largest decline over 3 years | -25.49% | -18.97% | -6.52% |
Max Drawdown (5Y)Largest decline over 5 years | -49.85% | -24.92% | -24.93% |
Max Drawdown (10Y)Largest decline over 10 years | -55.70% | -34.06% | -21.64% |
Current DrawdownCurrent decline from peak | -26.67% | -2.52% | -24.15% |
Average DrawdownAverage peak-to-trough decline | -24.80% | -9.27% | -15.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.65% | 1.96% | +3.69% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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