^SSEC vs. ^HSI
^SSEC (Shanghai Composite) and ^HSI (Hang Seng Index) are both indexes. Over the past 10 years, ^SSEC returned 3.30%/yr vs 1.75%/yr for ^HSI. At a 0.49 correlation, their price movements are largely independent.
Performance
^SSEC vs. ^HSI - Performance Comparison
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Different Trading Currencies
^SSEC is traded in CNY, while ^HSI is traded in HKD. To make them comparable, the ^HSI values have been converted to CNY using the latest available exchange rates.
Returns By Period
In the year-to-date period, ^SSEC achieves a 2.24% return, which is significantly higher than ^HSI's -10.83% return. Over the past 10 years, ^SSEC has outperformed ^HSI with an annualized return of 3.30%, while ^HSI has yielded a comparatively lower 1.75% annualized return.
^SSEC
- 1D
- -0.64%
- 1M
- -1.34%
- YTD
- 2.24%
- 6M
- 3.58%
- 1Y
- 20.77%
- 3Y*
- 7.87%
- 5Y*
- 2.47%
- 10Y*
- 3.30%
^HSI
- 1D
- 0.00%
- 1M
- -7.51%
- YTD
- -10.83%
- 6M
- -11.82%
- 1Y
- -5.20%
- 3Y*
- 5.85%
- 5Y*
- -3.13%
- 10Y*
- 1.75%
^SSEC vs. ^HSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^SSEC Shanghai Composite | 2.24% | 18.41% | 12.67% | -3.70% | -15.13% | 4.80% | 13.87% | 22.30% | -24.59% | 6.56% |
^HSI Hang Seng Index | -10.83% | 22.20% | 21.63% | -11.31% | -8.36% | -16.82% | -9.02% | 11.02% | -8.93% | 26.50% |
Correlation
The correlation between ^SSEC and ^HSI is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2007 | 0.49 |
The correlation between ^SSEC and ^HSI has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.
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Return for Risk
^SSEC vs. ^HSI — Risk / Return Rank
^SSEC
^HSI
^SSEC vs. ^HSI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shanghai Composite (^SSEC) and Hang Seng Index (^HSI). 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.
| ^SSEC | ^HSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.98 | ||
| Sortino ratioReturn per unit of downside risk | +2.55 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.97 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | -0.30 | +2.68 |
| Martin ratioReturn relative to average drawdown | 8.63 | -0.75 | +9.38 |
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Drawdowns
^SSEC vs. ^HSI - Drawdown Comparison
The maximum ^SSEC drawdown since its inception was -78.27%, which is greater than ^HSI's maximum drawdown of -68.07%. Use the drawdown chart below to compare losses from any high point for ^SSEC and ^HSI.
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Drawdown Indicators
| ^SSEC | ^HSI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.27% | -68.07% | -10.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.83% | -17.72% | +8.89% |
Max Drawdown (3Y)Largest decline over 3 years | -17.89% | -25.31% | +7.42% |
Max Drawdown (5Y)Largest decline over 5 years | -27.27% | -43.91% | +16.64% |
Max Drawdown (10Y)Largest decline over 10 years | -30.77% | -49.31% | +18.54% |
Current DrawdownCurrent decline from peak | -33.39% | -32.65% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -39.93% | -34.90% | -5.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 6.99% | -4.59% |
Volatility
^SSEC vs. ^HSI - Volatility Comparison
The current volatility for Shanghai Composite (^SSEC) is 3.92%, while Hang Seng Index (^HSI) has a volatility of 5.03%. This indicates that ^SSEC experiences smaller price fluctuations and is considered to be less risky than ^HSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^SSEC | ^HSI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.92% | 5.03% | -1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 13.51% | -3.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.50% | 18.00% | -5.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.62% | 24.45% | -8.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.23% | 21.25% | -5.02% |
Frequently Asked Questions
^SSEC and ^HSI have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^HSI has higher volatility (5.03%) compared to ^SSEC (3.92%). In terms of maximum drawdown, ^SSEC dropped -78.27% vs ^HSI's -68.07%.
^SSEC currently has the higher Sharpe Ratio (1.68 vs -0.30), 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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