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USD/HKD (HKD=X)
Performance
Return for Risk
Drawdowns
Volatility

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USD/HKD

Performance

Performance Chart

The chart shows the growth of an initial investment of HK$10,000 in USD/HKD, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


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S&P 500 Index

Different Benchmark Currency

HKD=X is traded in HKD, while the ^GSPC benchmark is in USD. To make them comparable, the benchmark values have been converted to HKD using the latest available exchange rates.

Returns By Period

USD/HKD (HKD=X) has returned 0.73% so far this year and 0.76% over the past 12 months. Over the last ten years, HKD=X has returned 0.11% per year, falling short of the S&P 500 Index benchmark, which averaged 12.28% annually.


USD/HKD

1D
0.05%
1M
0.21%
YTD
0.73%
6M
0.73%
1Y
0.76%
3Y*
-0.04%
5Y*
0.16%
10Y*
0.11%

Benchmark (S&P 500 Index)

1D
2.97%
1M
-4.88%
YTD
-3.94%
6M
-1.68%
1Y
17.22%
3Y*
16.64%
5Y*
10.37%
10Y*
12.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Apr 23, 2007, HKD=X's average daily return is 0.00%, while the average monthly return is 0.00%.

Historically, 49% of months were positive and 51% were negative. The best month was May 2025 with a return of +1.1%, while the worst month was Aug 2025 at -0.7%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 6 months.

On a daily basis, HKD=X closed higher 51% of trading days. The best single day was Feb 2, 2016 with a return of +0.3%, while the worst single day was Sep 21, 2018 at -0.4%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20260.38%0.13%0.22%0.73%
20250.31%-0.18%0.03%-0.32%1.09%0.13%0.00%-0.69%-0.17%-0.16%0.20%-0.04%0.19%
20240.12%0.14%-0.06%0.00%-0.08%-0.10%0.03%-0.21%-0.31%0.00%0.11%-0.17%-0.52%
20230.40%0.11%0.01%-0.01%-0.25%0.08%-0.50%0.56%-0.14%-0.09%-0.15%-0.03%-0.01%
20220.01%0.21%0.24%0.17%0.01%-0.02%0.05%-0.01%0.01%0.00%-0.51%0.00%0.17%
2021-0.02%0.04%0.24%-0.09%-0.08%0.05%0.07%0.08%0.11%-0.11%0.25%-0.01%0.54%

Benchmark Metrics

USD/HKD has an annualized alpha of 0.05%, beta of -0.00, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since April 24, 2007.

  • This currency tended to rise when S&P 500 Index fell (downside capture of -0.79%), but participation in market rallies was also limited (-0.24%) — a profile typical of counter-cyclical assets.
  • Beta of -0.00 may look defensive, but with R² of 0.00 this currency 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 currency's risk.
  • R² of 0.00 means this currency 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
0.05%
Beta
-0.00
0.00
Upside Capture
-0.24%
Downside Capture
-0.79%

Return for Risk

Risk / Return Rank

HKD=X ranks 61 for risk / return — better than 61% of currencies on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.


HKD=X Risk / Return Rank: 6161
Overall Rank
HKD=X Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
HKD=X Sortino Ratio Rank: 7070
Sortino Ratio Rank
HKD=X Omega Ratio Rank: 7676
Omega Ratio Rank
HKD=X Calmar Ratio Rank: 4040
Calmar Ratio Rank
HKD=X Martin Ratio Rank: 4343
Martin Ratio Rank
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.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for USD/HKD (HKD=X) and compare them to a chosen benchmark (S&P 500 Index).


HKD=XBenchmarkDifference

Sharpe ratio

Return per unit of total volatility

0.75

0.94

-0.20

Sortino ratio

Return per unit of downside risk

1.02

1.45

-0.42

Omega ratio

Gain probability vs. loss probability

1.16

1.22

-0.06

Calmar ratio

Return relative to maximum drawdown

-0.11

1.46

-1.57

Martin ratio

Return relative to average drawdown

-0.17

6.99

-7.16

Explore HKD=X risk-adjusted metrics in detail

Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.

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 USD/HKD. 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 USD/HKD was 1.30%, occurring on Oct 9, 2020. Recovery took 1247 trading sessions.

The current USD/HKD drawdown is 0.13%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-1.3%Aug 16, 2018562Oct 9, 20201247Jun 22, 20251809
-1.07%Jul 2, 202593Oct 17, 2025
-1.02%Aug 7, 2007568Oct 15, 20092186Mar 2, 20182754
-0.23%May 23, 20076May 30, 200740Jul 25, 200746
-0.14%May 1, 200710May 14, 20076May 22, 200716

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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