0902.HK vs. 0836.HK

Last updated Jul 21, 2026

0902.HK (Huaneng Power International) and 0836.HK (China Resources Power Holding) are both stocks. Both operate in the Utilities - Independent Power Producers industry within the Utilities sector. Over the past 10 years, 0902.HK returned 6.99%/yr vs 10.36%/yr for 0836.HK. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

0902.HK vs. 0836.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Huaneng Power International (0902.HK) and China Resources Power Holding (0836.HK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with 0902.HK having a 13.71% return and 0836.HK slightly higher at 14.16%. Over the past 10 years, 0902.HK has underperformed 0836.HK with an annualized return of 6.99%, while 0836.HK has yielded a comparatively higher 10.36% annualized return.

0902.HK

• 1D: 4.66%
• 1M: 0.71%
• 6M: 10.07%
• YTD: 13.71%
• 1Y: 35.75%
• 3Y*: 17.06%
• 5Y*: 21.81%
• 10Y*: 6.99%
• ALL TIME*: 5.09%

0836.HK

• 1D: 4.79%
• 1M: 3.70%
• 6M: 9.30%
• YTD: 14.16%
• 1Y: 2.95%
• 3Y*: 10.70%
• 5Y*: 16.33%
• 10Y*: 10.36%
• ALL TIME*: 7.45%

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

0902.HK vs. 0836.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
0902.HK Huaneng Power International	13.71%	42.09%	7.43%	12.20%	-29.17%	98.47%	-24.25%	-18.89%	3.98%	0.40%
0836.HK China Resources Power Holding	14.16%	-3.42%	26.64%	5.71%	-37.82%	229.83%	-18.67%	-24.44%	9.56%	25.24%

Correlation

The correlation between 0902.HK and 0836.HK is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Nov 24, 2006	0.53

The correlation between 0902.HK and 0836.HK shifts across timeframes, from 0.53 (all time) to 0.72 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

0902.HK vs. 0836.HK — Risk / Return Rank

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

0902.HK

0902.HK Risk / Return Rank: 77
0902.HK Sharpe Ratio Rank: 80
0902.HK Sortino Ratio Rank: 78
0902.HK Omega Ratio Rank: 77
0902.HK Calmar Ratio Rank: 75
0902.HK Martin Ratio Rank: 75

0836.HK

0836.HK Risk / Return Rank: 48
0836.HK Sharpe Ratio Rank: 51
0836.HK Sortino Ratio Rank: 43
0836.HK Omega Ratio Rank: 43
0836.HK Calmar Ratio Rank: 50
0836.HK Martin Ratio Rank: 51

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.

0902.HK vs. 0836.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Huaneng Power International (0902.HK) and China Resources Power Holding (0836.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.

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.

	0902.HK	0836.HK	Difference
Sharpe ratio: Return per unit of total volatility	1.21	0.13	+1.07
Sortino ratio: Return per unit of downside risk	1.85	0.34	+1.50
Omega ratio: Gain probability vs. loss probability	1.24	1.04	+0.19
Calmar ratio: Return relative to maximum drawdown	1.56	0.15	+1.41
Martin ratio: Return relative to average drawdown	3.91	0.37	+3.54

0902.HK vs. 0836.HK - Sharpe Ratio Comparison

The current 0902.HK Sharpe Ratio is 1.21, which is higher than the 0836.HK Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of 0902.HK and 0836.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.

Drawdowns

0902.HK vs. 0836.HK - Drawdown Comparison

The maximum 0902.HK drawdown since its inception was -75.86%, which is greater than 0836.HK's maximum drawdown of -65.45%. Use the drawdown chart below to compare losses from any high point for 0902.HK and 0836.HK.

Drawdown Indicators

	0902.HK	0836.HK	Difference
Max Drawdown Largest peak-to-trough decline	-75.86%	-65.45%	-10.41%
Max Drawdown (1Y) Largest decline over 1 year	-23.62%	-20.32%	-3.30%
Max Drawdown (3Y) Largest decline over 3 years	-31.08%	-31.42%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-51.75%	-59.61%	+7.86%
Max Drawdown (10Y) Largest decline over 10 years	-62.36%	-59.61%	-2.75%
Current Drawdown Current decline from peak	-13.81%	-16.54%	+2.73%
Average Drawdown Average peak-to-trough decline	-40.11%	-33.42%	-6.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.30%	8.02%	+1.28%

Volatility

0902.HK vs. 0836.HK - Volatility Comparison

Huaneng Power International (0902.HK) has a higher volatility of 11.85% compared to China Resources Power Holding (0836.HK) at 10.57%. This indicates that 0902.HK's price experiences larger fluctuations and is considered to be riskier than 0836.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	0902.HK	0836.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.85%	10.57%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	23.45%	18.14%	+5.31%
Volatility (1Y) Calculated over the trailing 1-year period	30.51%	22.71%	+7.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.00%	40.99%	+3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.36%	34.59%	+2.77%

Dividends

0902.HK vs. 0836.HK - Dividend Comparison

0902.HK's dividend yield for the trailing twelve months is around 7.50%, more than 0836.HK's 5.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
0836.HK China Resources Power Holding	5.92%	6.05%	5.52%	7.70%	1.60%	2.51%	6.86%	3.68%	5.81%	6.01%	7.10%	5.31%
0902.HK Huaneng Power International	7.50%	5.10%	5.15%	0.00%	0.00%	4.13%	5.33%	2.97%	2.40%	5.92%	9.14%	7.16%

Financials

Frequently Asked Questions

Can I hold both 0902.HK and 0836.HK in my portfolio?

0902.HK and 0836.HK have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.