0293.HK vs. ^HSI

Last updated Jul 21, 2026

0293.HK (Cathay Pacific Airways Limited) is a stock, while ^HSI (Hang Seng Index) is an index. Over the past 10 years, 0293.HK returned 5.95%/yr vs 1.12%/yr for ^HSI. At a 0.48 correlation, their price movements are largely independent.

Performance

0293.HK vs. ^HSI - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Cathay Pacific Airways Limited (0293.HK) and Hang Seng Index (^HSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 0293.HK achieves a 10.32% return, which is significantly higher than ^HSI's -4.17% return. Over the past 10 years, 0293.HK has outperformed ^HSI with an annualized return of 5.95%, while ^HSI has yielded a comparatively lower 1.12% annualized return.

0293.HK

• 1D: -1.22%
• 1M: 7.99%
• 6M: 11.58%
• YTD: 10.32%
• 1Y: 17.41%
• 3Y*: 22.21%
• 5Y*: 19.94%
• 10Y*: 5.95%
• ALL TIME*: 3.72%

^HSI

• 1D: 0.00%
• 1M: 2.66%
• 6M: -7.54%
• YTD: -4.17%
• 1Y: -1.06%
• 3Y*: 8.79%
• 5Y*: -2.04%
• 10Y*: 1.12%
• ALL TIME*: 5.88%

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

0293.HK vs. ^HSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
0293.HK Cathay Pacific Airways Limited	10.32%	39.34%	26.02%	-4.23%	33.33%	-10.88%	-18.09%	6.91%	-6.96%	18.79%
^HSI Hang Seng Index	-4.17%	27.77%	17.67%	-13.82%	-15.46%	-14.08%	-3.40%	9.07%	-13.61%	35.99%

Correlation

The correlation between 0293.HK and ^HSI is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Apr 10, 2006	0.48

Return for Risk

0293.HK vs. ^HSI — Risk / Return Rank

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

0293.HK

0293.HK Risk / Return Rank: 65
0293.HK Sharpe Ratio Rank: 66
0293.HK Sortino Ratio Rank: 60
0293.HK Omega Ratio Rank: 60
0293.HK Calmar Ratio Rank: 69
0293.HK Martin Ratio Rank: 68

^HSI

^HSI Risk / Return Rank: 3
^HSI Sharpe Ratio Rank: 3
^HSI Sortino Ratio Rank: 3
^HSI Omega Ratio Rank: 3
^HSI Calmar Ratio Rank: 3
^HSI Martin Ratio Rank: 3

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.

0293.HK vs. ^HSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cathay Pacific Airways Limited (0293.HK) 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.

	0293.HK	^HSI	Difference
Sharpe ratio: Return per unit of total volatility	0.61	-0.06	+0.67
Sortino ratio: Return per unit of downside risk	1.01	0.05	+0.96
Omega ratio: Gain probability vs. loss probability	1.14	1.01	+0.13
Calmar ratio: Return relative to maximum drawdown	1.14	-0.06	+1.20
Martin ratio: Return relative to average drawdown	2.30	-0.15	+2.45

0293.HK vs. ^HSI - Sharpe Ratio Comparison

The current 0293.HK Sharpe Ratio is 0.61, which is higher than the ^HSI Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of 0293.HK 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.

Drawdowns

0293.HK vs. ^HSI - Drawdown Comparison

The maximum 0293.HK drawdown since its inception was -68.38%, roughly equal to the maximum ^HSI drawdown of -65.18%. Use the drawdown chart below to compare losses from any high point for 0293.HK and ^HSI.

Drawdown Indicators

	0293.HK	^HSI	Difference
Max Drawdown Largest peak-to-trough decline	-68.38%	-65.18%	-3.20%
Max Drawdown (1Y) Largest decline over 1 year	-15.69%	-18.94%	+3.25%
Max Drawdown (3Y) Largest decline over 3 years	-17.98%	-25.49%	+7.51%
Max Drawdown (5Y) Largest decline over 5 years	-20.89%	-47.02%	+26.13%
Max Drawdown (10Y) Largest decline over 10 years	-52.25%	-55.70%	+3.45%
Current Drawdown Current decline from peak	-4.91%	-25.91%	+21.00%
Average Drawdown Average peak-to-trough decline	-34.05%	-24.80%	-9.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.70%	7.07%	+0.63%

Volatility

0293.HK vs. ^HSI - Volatility Comparison

Cathay Pacific Airways Limited (0293.HK) has a higher volatility of 7.32% compared to Hang Seng Index (^HSI) at 6.06%. This indicates that 0293.HK's price experiences larger fluctuations and is considered to be riskier than ^HSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	0293.HK	^HSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.32%	6.06%	+1.26%
Volatility (6M) Calculated over the trailing 6-month period	23.14%	14.28%	+8.86%
Volatility (1Y) Calculated over the trailing 1-year period	29.20%	19.01%	+10.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.98%	25.37%	+0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.77%	21.96%	+5.81%

Frequently Asked Questions

Can I hold both 0293.HK and ^HSI in my portfolio?

0293.HK and ^HSI have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.