1398.HK vs. ^HSI
1398.HK (Industrial and Commercial Bank of China) is a stock, while ^HSI (Hang Seng Index) is an index. Over the past 10 years, 1398.HK returned 11.56%/yr vs 1.47%/yr for ^HSI. A 0.75 correlation means they provide meaningful diversification when combined.
Performance
1398.HK vs. ^HSI - Performance Comparison
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Returns By Period
In the year-to-date period, 1398.HK achieves a 8.40% return, which is significantly higher than ^HSI's -8.66% return. Over the past 10 years, 1398.HK has outperformed ^HSI with an annualized return of 11.56%, while ^HSI has yielded a comparatively lower 1.47% annualized return.
1398.HK
- 1D
- -2.07%
- 1M
- -2.21%
- YTD
- 8.40%
- 6M
- 11.23%
- 1Y
- 11.56%
- 3Y*
- 28.31%
- 5Y*
- 14.80%
- 10Y*
- 11.56%
^HSI
- 1D
- 0.00%
- 1M
- -8.54%
- YTD
- -8.66%
- 6M
- -9.32%
- 1Y
- -4.34%
- 3Y*
- 7.60%
- 5Y*
- -4.38%
- 10Y*
- 1.47%
1398.HK vs. ^HSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
1398.HK Industrial and Commercial Bank of China | 8.40% | 31.32% | 46.88% | 3.30% | -1.37% | -6.57% | -11.24% | 12.71% | -6.42% | 42.50% |
^HSI Hang Seng Index | -8.66% | 27.77% | 17.67% | -13.82% | -15.46% | -14.08% | -3.40% | 9.07% | -13.61% | 35.99% |
Correlation
The correlation between 1398.HK and ^HSI is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2006 | 0.75 |
Over the past year, the correlation between 1398.HK and ^HSI has dropped to 0.47 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
1398.HK vs. ^HSI — Risk / Return Rank
1398.HK
^HSI
1398.HK vs. ^HSI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Industrial and Commercial Bank of China (1398.HK) and Hang Seng Index (^HSI). 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 | ^HSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.98 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | -0.27 | +1.38 |
| Martin ratioReturn relative to average drawdown | 2.86 | -0.74 | +3.59 |
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Drawdowns
1398.HK vs. ^HSI - Drawdown Comparison
The maximum 1398.HK drawdown since its inception was -61.39%, smaller than the maximum ^HSI drawdown of -65.18%. Use the drawdown chart below to compare losses from any high point for 1398.HK and ^HSI.
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Drawdown Indicators
| 1398.HK | ^HSI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.39% | -65.18% | +3.79% |
Max Drawdown (1Y)Largest decline over 1 year | -10.69% | -16.56% | +5.87% |
Max Drawdown (3Y)Largest decline over 3 years | -14.02% | -25.49% | +11.47% |
Max Drawdown (5Y)Largest decline over 5 years | -25.77% | -49.85% | +24.08% |
Max Drawdown (10Y)Largest decline over 10 years | -38.50% | -55.70% | +17.20% |
Current DrawdownCurrent decline from peak | -8.17% | -29.38% | +21.21% |
Average DrawdownAverage peak-to-trough decline | -18.20% | -24.80% | +6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.11% | 5.99% | -1.88% |
Volatility
1398.HK vs. ^HSI - Volatility Comparison
Industrial and Commercial Bank of China (1398.HK) has a higher volatility of 7.60% compared to Hang Seng Index (^HSI) at 5.41%. This indicates that 1398.HK's price experiences larger fluctuations and is considered to be riskier than ^HSI 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 | ^HSI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.60% | 5.41% | +2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 14.51% | 13.88% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.20% | 18.49% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.69% | 25.34% | -4.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.55% | 21.93% | -0.38% |
Frequently Asked Questions
1398.HK and ^HSI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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