^HSI vs. BTC-USD

Last updated Apr 1, 2026

Compare and contrast key facts about Hang Seng Index (^HSI) and Bitcoin (BTC-USD).

Performance

^HSI vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Hang Seng Index (^HSI) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

^HSI vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^HSI Hang Seng Index	-3.29%	27.77%	17.67%	-13.82%	-15.46%	-14.08%	-3.40%	9.07%	-13.61%	35.99%
BTC-USD Bitcoin	-21.38%	-6.09%	120.79%	153.36%	-64.02%	60.27%	302.75%	93.07%	-74.60%	1,427.56%

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 -3.29% return, which is significantly higher than BTC-USD's -21.38% return. Over the past 10 years, ^HSI has underperformed BTC-USD with an annualized return of 1.92%, while BTC-USD has yielded a comparatively higher 66.66% annualized return.

^HSI

• 1D: 0.15%
• 1M: -6.92%
• YTD: -3.29%
• 6M: -7.70%
• 1Y: 7.22%
• 3Y*: 6.71%
• 5Y*: -3.05%
• 10Y*: 1.92%

BTC-USD

• 1D: 2.38%
• 1M: 4.05%
• YTD: -21.38%
• 6M: -39.69%
• 1Y: -16.63%
• 3Y*: 33.80%
• 5Y*: 3.23%
• 10Y*: 66.66%

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

Return for Risk

^HSI vs. BTC-USD — Risk / Return Rank

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

^HSI

^HSI Risk / Return Rank: 29
^HSI Sharpe Ratio Rank: 31
^HSI Sortino Ratio Rank: 27
^HSI Omega Ratio Rank: 30
^HSI Calmar Ratio Rank: 27
^HSI Martin Ratio Rank: 28

BTC-USD

BTC-USD Risk / Return Rank: 45
BTC-USD Sharpe Ratio Rank: 69
BTC-USD Sortino Ratio Rank: 62
BTC-USD Omega Ratio Rank: 62
BTC-USD Calmar Ratio Rank: 34
BTC-USD Martin Ratio Rank: 0

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.

^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.

	^HSI	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	0.32	-0.37	+0.70
Sortino ratio Return per unit of downside risk	0.54	-0.26	+0.80
Omega ratio Gain probability vs. loss probability	1.08	0.97	+0.11
Calmar ratio Return relative to maximum drawdown	0.27	-1.13	+1.40
Martin ratio Return relative to average drawdown	0.92	-2.04	+2.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^HSI vs. BTC-USD - Sharpe Ratio Comparison

The current ^HSI Sharpe Ratio is 0.32, which is higher than the BTC-USD Sharpe Ratio of -0.37. The chart below compares the historical Sharpe Ratios of ^HSI and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^HSI	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	-0.37	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	0.06	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	0.99	-0.90
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	1.19	-0.93

Correlation

The correlation between ^HSI and BTC-USD is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

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.

Drawdown Indicators

	^HSI	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-65.18%	-85.30%	+20.12%
Max Drawdown (1Y) Largest decline over 1 year	-14.56%	-49.65%	+35.09%
Max Drawdown (5Y) Largest decline over 5 years	-50.16%	-76.67%	+26.51%
Max Drawdown (10Y) Largest decline over 10 years	-55.70%	-83.80%	+28.10%
Current Drawdown Current decline from peak	-25.23%	-45.25%	+20.02%
Average Drawdown Average peak-to-trough decline	-24.18%	-41.98%	+17.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.04%	27.45%	-22.41%

Volatility

^HSI vs. BTC-USD - Volatility Comparison

The current volatility for Hang Seng Index (^HSI) is 7.16%, while Bitcoin (BTC-USD) has a volatility of 14.92%. 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.

Volatility by Period

	^HSI	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	14.92%	-7.76%
Volatility (6M) Calculated over the trailing 6-month period	14.14%	36.46%	-22.32%
Volatility (1Y) Calculated over the trailing 1-year period	23.06%	36.95%	-13.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.25%	47.23%	-21.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.94%	56.17%	-34.23%