^SSEC vs. ^HSI

Last updated Jun 3, 2026

^SSEC (Shanghai Composite) and ^HSI (Hang Seng Index) are both indexes. Over the past 10 years, ^SSEC returned 3.32%/yr vs 2.42%/yr for ^HSI. At a 0.49 correlation, their price movements are largely independent.

Performance

^SSEC vs. ^HSI - Performance Comparison

The chart below illustrates the hypothetical performance of a CN¥10,000 investment in Shanghai Composite (^SSEC) and Hang Seng Index (^HSI). The values are adjusted to include any dividend payments, if applicable.

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 2.68% return, which is significantly higher than ^HSI's -2.36% return. Over the past 10 years, ^SSEC has outperformed ^HSI with an annualized return of 3.32%, while ^HSI has yielded a comparatively lower 2.42% annualized return.

^SSEC

• 1D: 0.43%
• 1M: -0.90%
• YTD: 2.68%
• 6M: 4.55%
• 1Y: 21.74%
• 3Y*: 8.05%
• 5Y*: 2.60%
• 10Y*: 3.32%

^HSI

• 1D: 2.58%
• 1M: 0.10%
• YTD: -2.36%
• 6M: -5.12%
• 1Y: 5.81%
• 3Y*: 9.51%
• 5Y*: -1.22%
• 10Y*: 2.42%

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

^SSEC vs. ^HSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^SSEC Shanghai Composite	2.68%	18.41%	12.67%	-3.70%	-15.13%	4.80%	13.87%	22.30%	-24.59%	6.56%
^HSI Hang Seng Index	-2.36%	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 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.53
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 Jun 26, 2007	0.49

The correlation between ^SSEC and ^HSI has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.

Return for Risk

^SSEC vs. ^HSI — Risk / Return Rank

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

^SSEC

^SSEC Risk / Return Rank: 60
^SSEC Sharpe Ratio Rank: 60
^SSEC Sortino Ratio Rank: 58
^SSEC Omega Ratio Rank: 66
^SSEC Calmar Ratio Rank: 57
^SSEC Martin Ratio Rank: 59

^HSI

^HSI Risk / Return Rank: 32
^HSI Sharpe Ratio Rank: 33
^HSI Sortino Ratio Rank: 33
^HSI Omega Ratio Rank: 32
^HSI Calmar Ratio Rank: 32
^HSI Martin Ratio Rank: 32

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.

^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.

	^SSEC	^HSI	Difference
Sharpe ratio Return per unit of total volatility	1.81	0.33	+1.48
Sortino ratio Return per unit of downside risk	2.40	0.60	+1.80
Omega ratio Gain probability vs. loss probability	1.33	1.07	+0.26
Calmar ratio Return relative to maximum drawdown	2.38	0.28	+2.10
Martin ratio Return relative to average drawdown	8.86	0.66	+8.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^SSEC vs. ^HSI - Sharpe Ratio Comparison

The current ^SSEC Sharpe Ratio is 1.81, which is higher than the ^HSI Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of ^SSEC and ^HSI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^SSEC	^HSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	0.33	+1.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	-0.05	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.12	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.01	+0.30

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.

Drawdown Indicators

	^SSEC	^HSI	Difference
Max Drawdown Largest peak-to-trough decline	-78.27%	-68.07%	-10.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.83%	-14.19%	+5.36%
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 Drawdown Current decline from peak	-33.11%	-26.26%	-6.85%
Average Drawdown Average peak-to-trough decline	-39.93%	-34.80%	-5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	6.03%	-3.66%

Volatility

^SSEC vs. ^HSI - Volatility Comparison

The current volatility for Shanghai Composite (^SSEC) is 4.08%, while Hang Seng Index (^HSI) has a volatility of 4.82%. 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.

Volatility by Period

	^SSEC	^HSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	4.82%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	9.88%	13.38%	-3.50%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	17.97%	-5.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.61%	24.43%	-8.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.23%	21.27%	-5.04%

Frequently Asked Questions

Can I hold both ^SSEC and ^HSI in my portfolio?

^SSEC and ^HSI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^SSEC or ^HSI?

^HSI has higher volatility (4.82%) compared to ^SSEC (4.08%). In terms of maximum drawdown, ^SSEC dropped -78.27% vs ^HSI's -68.07%.

Which has better risk-adjusted returns?

^SSEC currently has the higher Sharpe Ratio (1.81 vs 0.33), 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.