^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 1.57%/yr vs 59.83%/yr for BTC-USD. Their 0.01 correlation means their historical movements had little consistent relationship.
Performance
^HSI vs. BTC-USD - Performance Comparison
Loading charts...
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 0.89% return, which is significantly higher than BTC-USD's -27.20% return. Over the past 10 years, ^HSI has underperformed BTC-USD with an annualized return of 1.57%, while BTC-USD has yielded a comparatively higher 59.83% annualized return.
^HSI
- 1D
- 0.00%
- 1M
- 10.74%
- 6M
- -5.58%
- YTD
- 0.89%
- 1Y
- 5.51%
- 3Y*
- 8.92%
- 5Y*
- -0.08%
- 10Y*
- 1.57%
- ALL TIME*
- 6.01%
BTC-USD
- 1D
- 0.72%
- 1M
- 1.11%
- 6M
- -17.44%
- YTD
- -27.20%
- 1Y
- -43.88%
- 3Y*
- 29.61%
- 5Y*
- 10.79%
- 10Y*
- 59.83%
- ALL TIME*
- 87.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^HSI Hang Seng Index | HK$70.30T | HK$79.04T | HK$84.72T |
BTC-USD Bitcoin | HK$12,306.13T | HK$12,533.41T | HK$16,356.88T |
^HSI vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^HSI Hang Seng Index | 0.89% | 27.77% | 17.67% | -13.82% | -15.46% | -14.08% | -3.40% | 9.07% | -13.61% | 35.99% |
BTC-USD Bitcoin | -27.20% | -6.09% | 119.62% | 155.79% | -64.17% | 60.27% | 302.75% | 93.07% | -73.31% | 1,335.18% |
Correlation
The correlation between ^HSI and BTC-USD is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2012 | 0.01 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.85 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.24 | -0.83 | +1.07 |
| Martin ratioReturn relative to average drawdown | 0.61 | -1.28 | +1.89 |
Loading charts...
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.
Loading charts...
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 | -18.94% | -52.72% | +33.78% |
Max Drawdown (3Y)Largest decline over 3 years | -23.43% | -52.72% | +29.29% |
Max Drawdown (5Y)Largest decline over 5 years | -44.91% | -76.63% | +31.72% |
Max Drawdown (10Y)Largest decline over 10 years | -55.70% | -83.80% | +28.10% |
Current DrawdownCurrent decline from peak | -22.00% | -48.93% | +26.93% |
Average DrawdownAverage peak-to-trough decline | -24.80% | -42.72% | +17.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.28% | 24.68% | -17.40% |
Volatility
^HSI vs. BTC-USD - Volatility Comparison
The current volatility for Hang Seng Index (^HSI) is 5.38%, while Bitcoin (BTC-USD) has a volatility of 8.48%. 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.
Loading charts...
Volatility by Period
| ^HSI | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 8.48% | -3.10% |
Volatility (6M)Calculated over the trailing 6-month period | 14.61% | 33.73% | -19.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.15% | 35.92% | -16.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.19% | 43.65% | -18.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.98% | 56.21% | -34.23% |
Frequently Asked Questions
^HSI and BTC-USD have a correlation of 0.03, 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 (8.48%) compared to ^HSI (5.38%). In terms of maximum drawdown, ^HSI dropped -65.18% vs BTC-USD's -85.30%.
^HSI currently has the higher Sharpe Ratio (0.24 vs -1.02), 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.
Find the right allocation for ^HSI and BTC-USD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer