^HSI vs. BTC-USD
^HSI (Hang Seng Index) is an index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, ^HSI returned 1.61%/yr vs 57.91%/yr for BTC-USD. At a 0.01 correlation, their price movements are largely independent.
Performance
^HSI vs. BTC-USD - Performance Comparison
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Different Trading Currencies
^HSI is traded in HKD, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to HKD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ^HSI achieves a -7.26% return, which is significantly higher than BTC-USD's -26.37% return. Over the past 10 years, ^HSI has underperformed BTC-USD with an annualized return of 1.61%, while BTC-USD has yielded a comparatively higher 57.91% annualized return.
^HSI
- 1D
- 0.00%
- 1M
- -7.18%
- YTD
- -7.26%
- 6M
- -7.78%
- 1Y
- 0.34%
- 3Y*
- 7.96%
- 5Y*
- -3.82%
- 10Y*
- 1.61%
BTC-USD
- 1D
- 0.00%
- 1M
- -16.86%
- YTD
- -26.37%
- 6M
- -26.26%
- 1Y
- -39.41%
- 3Y*
- 27.76%
- 5Y*
- 13.26%
- 10Y*
- 57.91%
^HSI vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^HSI Hang Seng Index | -7.26% | 27.77% | 17.67% | -13.82% | -15.46% | -14.08% | -3.40% | 9.07% | -13.61% | 35.99% |
BTC-USD Bitcoin | -27.53% | -6.09% | 120.79% | 153.36% | -64.02% | 60.27% | 302.75% | 93.07% | -74.60% | 1,427.56% |
Correlation
The correlation between ^HSI and BTC-USD 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 | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2012 | 0.01 |
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Return for Risk
^HSI vs. BTC-USD — Risk / Return Rank
^HSI
BTC-USD
^HSI vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hang Seng Index (^HSI) and Bitcoin (BTC-USD). 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.
| ^HSI | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.86 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.78 | +0.80 |
| Martin ratioReturn relative to average drawdown | 0.06 | -1.30 | +1.36 |
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Drawdowns
^HSI vs. BTC-USD - Drawdown Comparison
The maximum ^HSI drawdown since its inception was -65.18%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for ^HSI and BTC-USD.
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Drawdown Indicators
| ^HSI | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.18% | -85.30% | +20.12% |
Max Drawdown (1Y)Largest decline over 1 year | -15.02% | -50.74% | +35.72% |
Max Drawdown (3Y)Largest decline over 3 years | -25.49% | -50.74% | +25.25% |
Max Drawdown (5Y)Largest decline over 5 years | -49.85% | -76.63% | +26.78% |
Max Drawdown (10Y)Largest decline over 10 years | -55.70% | -83.22% | +27.52% |
Current DrawdownCurrent decline from peak | -28.31% | -48.35% | +20.04% |
Average DrawdownAverage peak-to-trough decline | -24.80% | -42.00% | +17.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.80% | 30.91% | -25.11% |
Volatility
^HSI vs. BTC-USD - Volatility Comparison
The current volatility for Hang Seng Index (^HSI) is 5.31%, while Bitcoin (BTC-USD) has a volatility of 12.18%. This indicates that ^HSI experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^HSI | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.31% | 12.18% | -6.87% |
Volatility (6M)Calculated over the trailing 6-month period | 13.94% | 35.29% | -21.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.52% | 36.01% | -17.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.34% | 44.95% | -19.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.94% | 55.68% | -33.74% |
Frequently Asked Questions
^HSI and BTC-USD 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.
BTC-USD has higher volatility (12.18%) compared to ^HSI (5.31%). In terms of maximum drawdown, ^HSI dropped -65.18% vs BTC-USD's -85.30%.
^HSI currently has the higher Sharpe Ratio (0.02 vs -0.91), 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.
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