2099.HK vs. AAR.AX

Last updated Jun 30, 2026

2099.HK (China Gold International Resources) and AAR.AX (Astral Resources NL) are both stocks. Both are in the Basic Materials sector — 2099.HK in Other Precious Metals & Mining, AAR.AX in Gold. Over the past 10 years, 2099.HK returned 26.69%/yr vs 25.86%/yr for AAR.AX. At a 0.08 correlation, their price movements are largely independent.

Performance

2099.HK vs. AAR.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in China Gold International Resources (2099.HK) and Astral Resources NL (AAR.AX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

2099.HK is traded in HKD, while AAR.AX is traded in AUD. To make them comparable, the AAR.AX values have been converted to HKD using the latest available exchange rates.

Returns By Period

In the year-to-date period, 2099.HK achieves a -19.85% return, which is significantly higher than AAR.AX's -51.04% return. Both investments have delivered pretty close results over the past 10 years, with 2099.HK having a 26.69% annualized return and AAR.AX not far behind at 25.86%.

2099.HK

• 1D: 6.03%
• 1M: -18.04%
• YTD: -19.85%
• 6M: -18.24%
• 1Y: 72.61%
• 3Y*: 62.20%
• 5Y*: 46.91%
• 10Y*: 26.69%

AAR.AX

• 1D: 0.00%
• 1M: -14.44%
• YTD: -51.04%
• 6M: -52.03%
• 1Y: -22.65%
• 3Y*: 25.10%
• 5Y*: 6.89%
• 10Y*: 25.86%

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

2099.HK vs. AAR.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
2099.HK China Gold International Resources	-19.85%	287.01%	22.94%	55.84%	15.69%	95.98%	55.65%	-24.05%	-32.38%	10.09%
AAR.AX Astral Resources NL	-51.04%	112.04%	67.21%	1.31%	-36.54%	-16.46%	46.85%	3.56%	-23.32%	664.35%

Correlation

The correlation between 2099.HK and AAR.AX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Dec 1, 2010	0.08

Over the past year, 2099.HK and AAR.AX have become more correlated (0.28) than their long-term average of 0.08, meaning their price movements have been converging.

Return for Risk

2099.HK vs. AAR.AX — Risk / Return Rank

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

2099.HK

2099.HK Risk / Return Rank: 74
2099.HK Sharpe Ratio Rank: 78
2099.HK Sortino Ratio Rank: 75
2099.HK Omega Ratio Rank: 72
2099.HK Calmar Ratio Rank: 72
2099.HK Martin Ratio Rank: 73

AAR.AX

AAR.AX Risk / Return Rank: 26
AAR.AX Sharpe Ratio Rank: 26
AAR.AX Sortino Ratio Rank: 29
AAR.AX Omega Ratio Rank: 30
AAR.AX Calmar Ratio Rank: 27
AAR.AX Martin Ratio Rank: 21

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.

2099.HK vs. AAR.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for China Gold International Resources (2099.HK) and Astral Resources NL (AAR.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.

	2099.HK	AAR.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.21	-0.27	+1.48
Sortino ratio: Return per unit of downside risk	1.86	0.10	+1.76
Omega ratio: Gain probability vs. loss probability	1.22	1.01	+0.21
Calmar ratio: Return relative to maximum drawdown	1.51	-0.33	+1.84
Martin ratio: Return relative to average drawdown	3.87	-0.74	+4.61

2099.HK vs. AAR.AX - Sharpe Ratio Comparison

The current 2099.HK Sharpe Ratio is 1.21, which is higher than the AAR.AX Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of 2099.HK and AAR.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

2099.HK vs. AAR.AX - Drawdown Comparison

The maximum 2099.HK drawdown since its inception was -92.85%, smaller than the maximum AAR.AX drawdown of -99.65%. Use the drawdown chart below to compare losses from any high point for 2099.HK and AAR.AX.

Drawdown Indicators

	2099.HK	AAR.AX	Difference
Max Drawdown Largest peak-to-trough decline	-92.85%	-99.65%	+6.80%
Max Drawdown (1Y) Largest decline over 1 year	-49.62%	-61.25%	+11.63%
Max Drawdown (3Y) Largest decline over 3 years	-51.29%	-61.25%	+9.96%
Max Drawdown (5Y) Largest decline over 5 years	-51.29%	-61.25%	+9.96%
Max Drawdown (10Y) Largest decline over 10 years	-84.27%	-77.69%	-6.58%
Current Drawdown Current decline from peak	-46.58%	-91.04%	+44.46%
Average Drawdown Average peak-to-trough decline	-50.70%	-87.92%	+37.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.15%	27.67%	-8.52%

Volatility

2099.HK vs. AAR.AX - Volatility Comparison

The current volatility for China Gold International Resources (2099.HK) is 21.80%, while Astral Resources NL (AAR.AX) has a volatility of 25.51%. This indicates that 2099.HK experiences smaller price fluctuations and is considered to be less risky than AAR.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	2099.HK	AAR.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.80%	25.51%	-3.71%
Volatility (6M) Calculated over the trailing 6-month period	46.30%	56.68%	-10.38%
Volatility (1Y) Calculated over the trailing 1-year period	62.18%	74.06%	-11.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.87%	67.13%	-11.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.88%	76.62%	-21.74%

Dividends

2099.HK vs. AAR.AX - Dividend Comparison

2099.HK's dividend yield for the trailing twelve months is around 2.99%, while AAR.AX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
2099.HK China Gold International Resources	2.99%	0.40%	0.00%	8.71%	8.56%	4.44%
AAR.AX Astral Resources NL	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both 2099.HK and AAR.AX in my portfolio?

2099.HK and AAR.AX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.