0688.HK vs. 0388.HK

Last updated Jun 5, 2026

0688.HK (China Overseas) and 0388.HK (Hong Kong Exchange and Clearing Ltd) are both stocks. 0688.HK operates in Real Estate - Development (Real Estate), while 0388.HK operates in Financial Data & Stock Exchanges (Financial Services). Over the past 10 years, 0688.HK returned 0.25%/yr vs 10.45%/yr for 0388.HK. At a 0.48 correlation, their price movements are largely independent.

Performance

0688.HK vs. 0388.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in China Overseas (0688.HK) and Hong Kong Exchange and Clearing Ltd (0388.HK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 0688.HK achieves a 31.10% return, which is significantly higher than 0388.HK's -0.10% return. Over the past 10 years, 0688.HK has underperformed 0388.HK with an annualized return of 0.25%, while 0388.HK has yielded a comparatively higher 10.45% annualized return.

0688.HK

• 1D: -0.86%
• 1M: 7.28%
• YTD: 31.10%
• 6M: 21.85%
• 1Y: 26.23%
• 3Y*: 3.34%
• 5Y*: 2.48%
• 10Y*: 0.25%

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%

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

0688.HK vs. 0388.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
0688.HK China Overseas	31.10%	2.65%	-4.38%	-30.14%	17.35%	16.91%	-41.85%	16.90%	10.50%	26.25%
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%

Correlation

The correlation between 0688.HK and 0388.HK is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jul 5, 2000	0.48

The correlation between 0688.HK and 0388.HK shifts across timeframes, from 0.48 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

0688.HK vs. 0388.HK — Risk / Return Rank

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

0688.HK

0688.HK Risk / Return Rank: 68
0688.HK Sharpe Ratio Rank: 72
0688.HK Sortino Ratio Rank: 69
0688.HK Omega Ratio Rank: 63
0688.HK Calmar Ratio Rank: 67
0688.HK Martin Ratio Rank: 68

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

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.

0688.HK vs. 0388.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for China Overseas (0688.HK) and Hong Kong Exchange and Clearing Ltd (0388.HK). 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.

	0688.HK	0388.HK	Difference
Sharpe ratio: Return per unit of total volatility	1.00	0.11	+0.89
Sortino ratio: Return per unit of downside risk	1.67	0.33	+1.35
Omega ratio: Gain probability vs. loss probability	1.18	1.04	+0.15
Calmar ratio: Return relative to maximum drawdown	1.33	0.16	+1.17
Martin ratio: Return relative to average drawdown	3.16	0.32	+2.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

0688.HK vs. 0388.HK - Sharpe Ratio Comparison

The current 0688.HK Sharpe Ratio is 1.00, which is higher than the 0388.HK Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of 0688.HK and 0388.HK, 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

	0688.HK	0388.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	0.11	+0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	-0.02	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.01	0.35	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.54	-0.30

Drawdowns

0688.HK vs. 0388.HK - Drawdown Comparison

The maximum 0688.HK drawdown since its inception was -89.93%, which is greater than 0388.HK's maximum drawdown of -79.34%. Use the drawdown chart below to compare losses from any high point for 0688.HK and 0388.HK.

Drawdown Indicators

	0688.HK	0388.HK	Difference
Max Drawdown Largest peak-to-trough decline	-89.93%	-79.34%	-10.59%
Max Drawdown (1Y) Largest decline over 1 year	-21.89%	-15.18%	-6.71%
Max Drawdown (3Y) Largest decline over 3 years	-42.81%	-32.06%	-10.75%
Max Drawdown (5Y) Largest decline over 5 years	-58.27%	-60.01%	+1.74%
Max Drawdown (10Y) Largest decline over 10 years	-58.76%	-61.53%	+2.77%
Current Drawdown Current decline from peak	-29.10%	-18.17%	-10.93%
Average Drawdown Average peak-to-trough decline	-35.45%	-27.98%	-7.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.12%	7.53%	+1.59%

Volatility

0688.HK vs. 0388.HK - Volatility Comparison

China Overseas (0688.HK) has a higher volatility of 10.94% compared to Hong Kong Exchange and Clearing Ltd (0388.HK) at 5.03%. This indicates that 0688.HK's price experiences larger fluctuations and is considered to be riskier than 0388.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	0688.HK	0388.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.94%	5.03%	+5.91%
Volatility (6M) Calculated over the trailing 6-month period	22.86%	14.58%	+8.28%
Volatility (1Y) Calculated over the trailing 1-year period	29.12%	22.57%	+6.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.71%	34.15%	+6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.44%	30.56%	+4.88%

Dividends

0688.HK vs. 0388.HK - Dividend Comparison

0688.HK's dividend yield for the trailing twelve months is around 3.42%, more than 0388.HK's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
0388.HK Hong Kong Exchange and Clearing Ltd	3.12%	2.67%	2.81%	3.06%	2.26%	2.01%	1.58%	2.68%	2.86%	1.91%	2.77%	2.63%
0688.HK China Overseas	3.42%	4.49%	6.05%	5.45%	5.63%	6.39%	6.05%	3.13%	3.16%	3.06%	3.70%	3.50%

Financials

Frequently Asked Questions

Can I hold both 0688.HK and 0388.HK in my portfolio?

0688.HK and 0388.HK have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.