0388.HK vs. ^HSI

Last updated Jun 5, 2026

0388.HK (Hong Kong Exchange and Clearing Ltd) is a stock, while ^HSI (Hang Seng Index) is an index. Over the past 10 years, 0388.HK returned 10.45%/yr vs 1.85%/yr for ^HSI. A 0.72 correlation means they provide meaningful diversification when combined.

Performance

0388.HK vs. ^HSI - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Hong Kong Exchange and Clearing Ltd (0388.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, 0388.HK achieves a -0.10% return, which is significantly higher than ^HSI's -1.47% return. Over the past 10 years, 0388.HK has outperformed ^HSI with an annualized return of 10.45%, while ^HSI has yielded a comparatively lower 1.85% annualized return.

0388.HK

• 1D: -2.10%
• 1M: -4.84%
• YTD: -0.10%
• 6M: -0.06%
• 1Y: 1.83%
• 3Y*: 12.92%
• 5Y*: -0.80%
• 10Y*: 10.45%

^HSI

• 1D: -1.48%
• 1M: -2.49%
• YTD: -1.47%
• 6M: -2.63%
• 1Y: 6.76%
• 3Y*: 9.74%
• 5Y*: -2.67%
• 10Y*: 1.85%

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

0388.HK vs. ^HSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
0388.HK Hong Kong Exchange and Clearing Ltd	-0.10%	42.10%	13.85%	-18.41%	-24.22%	9.26%	71.64%	14.65%	-2.86%	33.92%
^HSI Hang Seng Index	-1.47%	27.77%	17.67%	-13.82%	-15.46%	-14.08%	-3.40%	9.07%	-13.61%	35.99%

Correlation

The correlation between 0388.HK and ^HSI is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jul 5, 2000	0.72

The correlation between 0388.HK and ^HSI shifts across timeframes, from 0.72 (all time) to 0.85 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

0388.HK vs. ^HSI — Risk / Return Rank

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

0388.HK

0388.HK Risk / Return Rank: 42
0388.HK Sharpe Ratio Rank: 46
0388.HK Sortino Ratio Rank: 38
0388.HK Omega Ratio Rank: 37
0388.HK Calmar Ratio Rank: 45
0388.HK Martin Ratio Rank: 45

^HSI

^HSI Risk / Return Rank: 27
^HSI Sharpe Ratio Rank: 27
^HSI Sortino Ratio Rank: 26
^HSI Omega Ratio Rank: 25
^HSI Calmar Ratio Rank: 28
^HSI Martin Ratio Rank: 29

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.

0388.HK vs. ^HSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hong Kong Exchange and Clearing Ltd (0388.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.

	0388.HK	^HSI	Difference
Sharpe ratio: Return per unit of total volatility	0.11	0.37	-0.27
Sortino ratio: Return per unit of downside risk	0.33	0.67	-0.34
Omega ratio: Gain probability vs. loss probability	1.04	1.07	-0.04
Calmar ratio: Return relative to maximum drawdown	0.16	0.54	-0.38
Martin ratio: Return relative to average drawdown	0.32	1.35	-1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

0388.HK vs. ^HSI - Sharpe Ratio Comparison

The current 0388.HK Sharpe Ratio is 0.11, which is lower than the ^HSI Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of 0388.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.

Sharpe Ratios by Period

	0388.HK	^HSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.11	0.37	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	-0.11	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.09	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.27	+0.28

Drawdowns

0388.HK vs. ^HSI - Drawdown Comparison

The maximum 0388.HK drawdown since its inception was -79.34%, which is greater than ^HSI's maximum drawdown of -65.18%. Use the drawdown chart below to compare losses from any high point for 0388.HK and ^HSI.

Drawdown Indicators

	0388.HK	^HSI	Difference
Max Drawdown Largest peak-to-trough decline	-79.34%	-65.18%	-14.16%
Max Drawdown (1Y) Largest decline over 1 year	-15.18%	-12.82%	-2.36%
Max Drawdown (3Y) Largest decline over 3 years	-32.06%	-25.49%	-6.57%
Max Drawdown (5Y) Largest decline over 5 years	-60.01%	-49.85%	-10.16%
Max Drawdown (10Y) Largest decline over 10 years	-61.53%	-55.70%	-5.83%
Current Drawdown Current decline from peak	-18.17%	-23.83%	+5.66%
Average Drawdown Average peak-to-trough decline	-27.98%	-24.17%	-3.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.53%	5.09%	+2.44%

Volatility

0388.HK vs. ^HSI - Volatility Comparison

Hong Kong Exchange and Clearing Ltd (0388.HK) and Hang Seng Index (^HSI) have volatilities of 5.03% and 5.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	0388.HK	^HSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	5.18%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	14.58%	13.70%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	22.57%	18.52%	+4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.15%	25.32%	+8.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.56%	21.96%	+8.60%

Frequently Asked Questions

Can I hold both 0388.HK and ^HSI in my portfolio?

0388.HK and ^HSI have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.