1398.HK vs. ^GSPC
1398.HK (Industrial and Commercial Bank of China) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, 1398.HK returned 11.67%/yr vs 13.21%/yr for ^GSPC. At a 0.13 correlation, their price movements are largely independent.
Performance
1398.HK vs. ^GSPC - Performance Comparison
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Different Trading Currencies
1398.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, 1398.HK achieves a 16.25% return, which is significantly higher than ^GSPC's 9.54% return. Over the past 10 years, 1398.HK has underperformed ^GSPC with an annualized return of 11.67%, while ^GSPC has yielded a comparatively higher 13.21% annualized return.
1398.HK
- 1D
- 2.89%
- 1M
- 3.80%
- 6M
- 15.33%
- YTD
- 16.25%
- 1Y
- 21.11%
- 3Y*
- 32.77%
- 5Y*
- 18.02%
- 10Y*
- 11.67%
- ALL TIME*
- 9.20%
^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%
1398.HK vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
1398.HK Industrial and Commercial Bank of China | 16.25% | 31.32% | 46.88% | 3.30% | -1.37% | -6.57% | -11.24% | 12.71% | -6.42% | 42.50% |
^GSPC S&P 500 Index | 9.54% | 16.61% | 22.67% | 24.22% | -19.31% | 27.58% | 15.74% | 28.20% | -6.03% | 20.34% |
Correlation
The correlation between 1398.HK and ^GSPC is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2007 | 0.13 |
The correlation between 1398.HK and ^GSPC shifts across timeframes, from -0.15 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
1398.HK vs. ^GSPC — Risk / Return Rank
1398.HK
^GSPC
1398.HK vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Industrial and Commercial Bank of China (1398.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.
| 1398.HK | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.26 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 2.07 | -0.11 |
| Martin ratioReturn relative to average drawdown | 5.13 | 8.96 | -3.83 |
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Drawdowns
1398.HK vs. ^GSPC - Drawdown Comparison
The maximum 1398.HK drawdown since its inception was -61.39%, which is greater than ^GSPC's maximum drawdown of -56.80%. Use the drawdown chart below to compare losses from any high point for 1398.HK and ^GSPC.
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Drawdown Indicators
| 1398.HK | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.39% | -56.80% | -4.59% |
Max Drawdown (1Y)Largest decline over 1 year | -11.08% | -8.77% | -2.31% |
Max Drawdown (3Y)Largest decline over 3 years | -14.02% | -18.97% | +4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -25.77% | -24.92% | -0.85% |
Max Drawdown (10Y)Largest decline over 10 years | -38.50% | -34.06% | -4.44% |
Current DrawdownCurrent decline from peak | -1.52% | -2.14% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -18.16% | -9.26% | -8.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.55% | 2.03% | +2.52% |
Volatility
1398.HK vs. ^GSPC - Volatility Comparison
Industrial and Commercial Bank of China (1398.HK) has a higher volatility of 9.05% compared to S&P 500 Index (^GSPC) at 3.14%. This indicates that 1398.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.
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Volatility by Period
| 1398.HK | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.05% | 3.14% | +5.91% |
Volatility (6M)Calculated over the trailing 6-month period | 15.80% | 10.04% | +5.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.06% | 12.61% | +7.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.90% | 16.97% | +3.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.63% | 18.03% | +3.60% |
Frequently Asked Questions
1398.HK and ^GSPC have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for 1398.HK and ^GSPC
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