0788.HK vs. ^GSPC

Last updated Jul 21, 2026

0788.HK (China Tower Corp) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, 0788.HK returned 0.17%/yr vs 11.49%/yr for ^GSPC. At a 0.08 correlation, their price movements are largely independent.

Performance

0788.HK vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in China Tower Corp (0788.HK) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

0788.HK is traded in HKD, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to HKD using the latest available exchange rates.

Returns By Period

In the year-to-date period, 0788.HK achieves a -14.07% return, which is significantly lower than ^GSPC's 9.54% return.

0788.HK

• 1D: 3.11%
• 1M: 3.11%
• 6M: -12.41%
• YTD: -14.07%
• 1Y: -17.51%
• 3Y*: 6.59%
• 5Y*: 0.17%
• 10Y*: —
• ALL TIME*: -2.23%

^GSPC

• 1D: -0.18%
• 1M: -0.72%
• 6M: 7.84%
• YTD: 9.54%
• 1Y: 18.11%
• 3Y*: 18.06%
• 5Y*: 11.49%
• 10Y*: 13.21%
• ALL TIME*: 9.15%

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

0788.HK vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
0788.HK China Tower Corp	-14.07%	7.62%	37.34%	-2.01%	-1.98%	-24.37%	-33.65%	16.23%	17.46%
^GSPC S&P 500 Index	9.54%	16.61%	22.67%	24.22%	-19.31%	27.58%	15.74%	28.20%	-12.52%

Correlation

The correlation between 0788.HK and ^GSPC is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Aug 8, 2018	0.08

Return for Risk

0788.HK vs. ^GSPC — Risk / Return Rank

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

0788.HK

0788.HK Risk / Return Rank: 12
0788.HK Sharpe Ratio Rank: 8
0788.HK Sortino Ratio Rank: 10
0788.HK Omega Ratio Rank: 13
0788.HK Calmar Ratio Rank: 22
0788.HK Martin Ratio Rank: 8

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 65
^GSPC Sortino Ratio Rank: 63
^GSPC Omega Ratio Rank: 67
^GSPC Calmar Ratio Rank: 61
^GSPC Martin Ratio Rank: 79

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.

0788.HK vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for China Tower Corp (0788.HK) and S&P 500 Index (^GSPC). 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.

	0788.HK	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	1.44	-2.33
Sortino ratio: Return per unit of downside risk	-1.26	2.02	-3.28
Omega ratio: Gain probability vs. loss probability	0.87	1.26	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.62	2.07	-2.70
Martin ratio: Return relative to average drawdown	-1.42	8.96	-10.38

0788.HK vs. ^GSPC - Sharpe Ratio Comparison

The current 0788.HK Sharpe Ratio is -0.89, which is lower than the ^GSPC Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of 0788.HK and ^GSPC, 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

0788.HK vs. ^GSPC - Drawdown Comparison

The maximum 0788.HK drawdown since its inception was -68.64%, which is greater than ^GSPC's maximum drawdown of -56.80%. Use the drawdown chart below to compare losses from any high point for 0788.HK and ^GSPC.

Drawdown Indicators

	0788.HK	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-68.64%	-56.80%	-11.84%
Max Drawdown (1Y) Largest decline over 1 year	-28.67%	-8.77%	-19.90%
Max Drawdown (3Y) Largest decline over 3 years	-28.67%	-18.97%	-9.70%
Max Drawdown (5Y) Largest decline over 5 years	-35.23%	-24.92%	-10.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.06%	—
Current Drawdown Current decline from peak	-53.82%	-2.14%	-51.68%
Average Drawdown Average peak-to-trough decline	-44.90%	-9.26%	-35.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.62%	2.03%	+10.59%

Volatility

0788.HK vs. ^GSPC - Volatility Comparison

China Tower Corp (0788.HK) has a higher volatility of 6.71% compared to S&P 500 Index (^GSPC) at 3.14%. This indicates that 0788.HK's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	0788.HK	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.71%	3.14%	+3.57%
Volatility (6M) Calculated over the trailing 6-month period	13.58%	10.04%	+3.54%
Volatility (1Y) Calculated over the trailing 1-year period	20.22%	12.61%	+7.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.15%	16.97%	+10.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.65%	18.03%	+12.62%

Frequently Asked Questions

Can I hold both 0788.HK and ^GSPC in my portfolio?

0788.HK and ^GSPC have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.