1898.HK vs. WHC.AX

Last updated Jul 21, 2026

1898.HK (China Coal Energy) and WHC.AX (Whitehaven Coal Limited) are both stocks. Both operate in the Thermal Coal industry within the Energy sector. Over the past 10 years, 1898.HK returned 15.58%/yr vs 19.80%/yr for WHC.AX. At a 0.27 correlation, their price movements are largely independent.

Performance

1898.HK vs. WHC.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in China Coal Energy (1898.HK) and Whitehaven Coal Limited (WHC.AX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

1898.HK is traded in HKD, while WHC.AX is traded in AUD. To make them comparable, the WHC.AX values have been converted to HKD using the latest available exchange rates.

Returns By Period

In the year-to-date period, 1898.HK achieves a 11.36% return, which is significantly higher than WHC.AX's 4.60% return. Over the past 10 years, 1898.HK has underperformed WHC.AX with an annualized return of 15.58%, while WHC.AX has yielded a comparatively higher 19.80% annualized return.

1898.HK

• 1D: 8.22%
• 1M: 1.19%
• 6M: 1.10%
• YTD: 11.36%
• 1Y: 21.12%
• 3Y*: 30.34%
• 5Y*: 24.75%
• 10Y*: 15.58%
• ALL TIME*: 0.51%

WHC.AX

• 1D: 0.00%
• 1M: -6.55%
• 6M: -8.60%
• YTD: 4.60%
• 1Y: 34.91%
• 3Y*: 8.77%
• 5Y*: 33.31%
• 10Y*: 19.80%
• ALL TIME*: 11.22%

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

1898.HK vs. WHC.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
1898.HK China Coal Energy	11.36%	12.63%	43.71%	20.54%	48.33%	99.49%	-18.77%	3.14%	-10.94%	-2.93%
WHC.AX Whitehaven Coal Limited	4.60%	38.39%	-22.34%	-12.07%	266.26%	50.17%	-31.22%	-33.09%	-9.91%	86.58%

Correlation

The correlation between 1898.HK and WHC.AX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Feb 1, 2008	0.27

The correlation between 1898.HK and WHC.AX shifts across timeframes, from 0.26 (10 years) to 0.44 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

1898.HK vs. WHC.AX — Risk / Return Rank

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

1898.HK

1898.HK Risk / Return Rank: 62
1898.HK Sharpe Ratio Rank: 65
1898.HK Sortino Ratio Rank: 62
1898.HK Omega Ratio Rank: 60
1898.HK Calmar Ratio Rank: 61
1898.HK Martin Ratio Rank: 63

WHC.AX

WHC.AX Risk / Return Rank: 61
WHC.AX Sharpe Ratio Rank: 65
WHC.AX Sortino Ratio Rank: 59
WHC.AX Omega Ratio Rank: 58
WHC.AX Calmar Ratio Rank: 62
WHC.AX Martin Ratio Rank: 64

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.

1898.HK vs. WHC.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for China Coal Energy (1898.HK) and Whitehaven Coal Limited (WHC.AX). 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.

	1898.HK	WHC.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.56	0.74	-0.18
Sortino ratio: Return per unit of downside risk	1.10	1.25	-0.15
Omega ratio: Gain probability vs. loss probability	1.13	1.15	-0.02
Calmar ratio: Return relative to maximum drawdown	0.64	1.04	-0.39
Martin ratio: Return relative to average drawdown	1.74	2.73	-1.00

1898.HK vs. WHC.AX - Sharpe Ratio Comparison

The current 1898.HK Sharpe Ratio is 0.56, which is comparable to the WHC.AX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of 1898.HK and WHC.AX, 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

1898.HK vs. WHC.AX - Drawdown Comparison

The maximum 1898.HK drawdown since its inception was -88.52%, smaller than the maximum WHC.AX drawdown of -96.16%. Use the drawdown chart below to compare losses from any high point for 1898.HK and WHC.AX.

Drawdown Indicators

	1898.HK	WHC.AX	Difference
Max Drawdown Largest peak-to-trough decline	-88.52%	-96.16%	+7.64%
Max Drawdown (1Y) Largest decline over 1 year	-33.80%	-27.47%	-6.33%
Max Drawdown (3Y) Largest decline over 3 years	-33.80%	-55.71%	+21.91%
Max Drawdown (5Y) Largest decline over 5 years	-41.75%	-58.17%	+16.42%
Max Drawdown (10Y) Largest decline over 10 years	-58.68%	-84.16%	+25.48%
Current Drawdown Current decline from peak	-25.53%	-21.34%	-4.19%
Average Drawdown Average peak-to-trough decline	-59.16%	-48.67%	-10.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.38%	10.32%	+2.06%

Volatility

1898.HK vs. WHC.AX - Volatility Comparison

China Coal Energy (1898.HK) has a higher volatility of 13.42% compared to Whitehaven Coal Limited (WHC.AX) at 11.15%. This indicates that 1898.HK's price experiences larger fluctuations and is considered to be riskier than WHC.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	1898.HK	WHC.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.42%	11.15%	+2.27%
Volatility (6M) Calculated over the trailing 6-month period	29.92%	31.59%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	39.24%	38.92%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.86%	45.68%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.39%	47.82%	-10.43%

Dividends

1898.HK vs. WHC.AX - Dividend Comparison

1898.HK's dividend yield for the trailing twelve months is around 4.00%, more than WHC.AX's 1.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
1898.HK China Coal Energy	4.00%	4.67%	9.15%	6.41%	5.55%	3.58%	5.97%	2.87%	2.17%	1.26%	0.00%	1.02%
WHC.AX Whitehaven Coal Limited	1.31%	1.94%	3.23%	9.95%	5.10%	0.00%	0.91%	13.26%	3.24%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both 1898.HK and WHC.AX in my portfolio?

1898.HK and WHC.AX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.