0968.HK vs. ^GSPC

Last updated Aug 1, 2026

0968.HK (Xinyi Solar Holdings Ltd) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, 0968.HK returned -0.46%/yr vs 13.37%/yr for ^GSPC. Their 0.07 correlation means their historical movements had little consistent relationship.

Performance

0968.HK vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Xinyi Solar Holdings Ltd (0968.HK) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

0968.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, 0968.HK achieves a -25.71% return, which is significantly lower than ^GSPC's 10.24% return. Over the past 10 years, 0968.HK has underperformed ^GSPC with an annualized return of -0.46%, while ^GSPC has yielded a comparatively higher 13.37% annualized return.

0968.HK

• 1D: 0.00%
• 1M: 6.80%
• 6M: -34.72%
• YTD: -25.71%
• 1Y: -26.71%
• 3Y*: -31.84%
• 5Y*: -30.75%
• 10Y*: -0.46%
• ALL TIME*: 9.35%

^GSPC

• 1D: 0.69%
• 1M: 0.07%
• 6M: 8.34%
• YTD: 10.24%
• 1Y: 18.03%
• 3Y*: 18.09%
• 5Y*: 11.45%
• 10Y*: 13.37%
• ALL TIME*: 9.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
^GSPC S&P 500 Index	HK$297.78T	HK$294.83T	HK$325.05T
0968.HK Xinyi Solar Holdings Ltd	HK$123.19M	HK$120.11M	HK$147.09M

0968.HK vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
0968.HK Xinyi Solar Holdings Ltd	-25.71%	-4.18%	-27.05%	-46.07%	-33.65%	-33.16%	275.49%	105.69%	-5.69%	24.47%
^GSPC S&P 500 Index	10.24%	16.61%	22.67%	24.22%	-19.31%	27.58%	15.74%	28.20%	-6.03%	20.34%

Correlation

The correlation between 0968.HK and ^GSPC is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (3Y) Balances recent behavior with more history.	0.04
Correlation (5Y) Shows whether the relationship held over a longer period.	0.04
Correlation (10Y) Provides a long-term view across more market conditions.	0.06
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013	0.07

The correlation between 0968.HK and ^GSPC shifts across timeframes, from -0.09 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

0968.HK vs. ^GSPC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

0968.HK

0968.HK Risk / Return Rank: 19
0968.HK Sharpe Ratio Rank: 17
0968.HK Sortino Ratio Rank: 18
0968.HK Omega Ratio Rank: 19
0968.HK Calmar Ratio Rank: 25
0968.HK Martin Ratio Rank: 19

^GSPC

^GSPC Risk / Return Rank: 68
^GSPC Sharpe Ratio Rank: 64
^GSPC Sortino Ratio Rank: 63
^GSPC Omega Ratio Rank: 66
^GSPC Calmar Ratio Rank: 65
^GSPC Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

0968.HK vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xinyi Solar Holdings Ltd (0968.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.

	0968.HK	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	-0.61	1.41	-2.01
Sortino ratio: Return per unit of downside risk	-0.69	1.97	-2.66
Omega ratio: Gain probability vs. loss probability	0.92	1.25	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.53	2.06	-2.60
Martin ratio: Return relative to average drawdown	-1.11	8.75	-9.87

0968.HK vs. ^GSPC - Sharpe Ratio Comparison

The current 0968.HK Sharpe Ratio is -0.61, which is lower than the ^GSPC Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of 0968.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

0968.HK vs. ^GSPC - Drawdown Comparison

The maximum 0968.HK drawdown since its inception was -89.96%, which is greater than ^GSPC's maximum drawdown of -56.80%. Use the drawdown chart below to compare losses from any high point for 0968.HK and ^GSPC.

Drawdown Indicators

	0968.HK	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-89.96%	-56.80%	-33.16%
Max Drawdown (1Y) Largest decline over 1 year	-51.36%	-8.77%	-42.59%
Max Drawdown (3Y) Largest decline over 3 years	-73.65%	-18.97%	-54.68%
Max Drawdown (5Y) Largest decline over 5 years	-88.53%	-24.92%	-63.61%
Max Drawdown (10Y) Largest decline over 10 years	-89.96%	-34.06%	-55.90%
Current Drawdown Current decline from peak	-88.62%	-1.52%	-87.10%
Average Drawdown Average peak-to-trough decline	-38.04%	-9.26%	-28.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.27%	2.07%	+22.20%

Volatility

0968.HK vs. ^GSPC - Volatility Comparison

Xinyi Solar Holdings Ltd (0968.HK) has a higher volatility of 11.54% compared to S&P 500 Index (^GSPC) at 3.51%. This indicates that 0968.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

	0968.HK	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.54%	3.51%	+8.03%
Volatility (6M) Calculated over the trailing 6-month period	32.61%	10.11%	+22.50%
Volatility (1Y) Calculated over the trailing 1-year period	45.45%	12.86%	+32.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.98%	16.99%	+34.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.37%	18.04%	+31.33%

Frequently Asked Questions

Can I hold both 0968.HK and ^GSPC in my portfolio?

0968.HK and ^GSPC have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.