3690.HK vs. TCEHY

Last updated Apr 1, 2026

Compare and contrast key facts about Meituan (3690.HK) and Tencent Holdings Limited (TCEHY).

Performance

3690.HK vs. TCEHY - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Meituan (3690.HK) and Tencent Holdings Limited (TCEHY). The values are adjusted to include any dividend payments, if applicable.

3690.HK vs. TCEHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
3690.HK Meituan	-19.70%	-31.91%	85.23%	-53.12%	-22.49%	-23.49%	189.11%	132.12%	-39.57%
TCEHY Tencent Holdings Limited	-16.81%	45.51%	41.18%	-5.49%	-24.85%	-18.25%	49.42%	21.29%	-6.14%

Different Trading Currencies

3690.HK is traded in HKD, while TCEHY is traded in USD. To make them comparable, the TCEHY values have been converted to HKD using the latest available exchange rates.

Returns By Period

In the year-to-date period, 3690.HK achieves a -19.70% return, which is significantly lower than TCEHY's -16.81% return.

3690.HK

• 1D: -1.48%
• 1M: 2.22%
• YTD: -19.70%
• 6M: -20.62%
• 1Y: -46.76%
• 3Y*: -16.70%
• 5Y*: -23.94%
• 10Y*: —

TCEHY

• 1D: 3.64%
• 1M: -3.56%
• YTD: -16.81%
• 6M: -25.21%
• 1Y: 0.68%
• 3Y*: 9.78%
• 5Y*: -3.23%
• 10Y*: 13.44%

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

Return for Risk

3690.HK vs. TCEHY — Risk / Return Rank

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

3690.HK

3690.HK Risk / Return Rank: 6
3690.HK Sharpe Ratio Rank: 3
3690.HK Sortino Ratio Rank: 4
3690.HK Omega Ratio Rank: 5
3690.HK Calmar Ratio Rank: 7
3690.HK Martin Ratio Rank: 12

TCEHY

TCEHY Risk / Return Rank: 39
TCEHY Sharpe Ratio Rank: 42
TCEHY Sortino Ratio Rank: 36
TCEHY Omega Ratio Rank: 36
TCEHY Calmar Ratio Rank: 41
TCEHY Martin Ratio Rank: 39

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.

3690.HK vs. TCEHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Meituan (3690.HK) and Tencent Holdings Limited (TCEHY). 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.

	3690.HK	TCEHY	Difference
Sharpe ratio Return per unit of total volatility	-1.11	0.02	-1.13
Sortino ratio Return per unit of downside risk	-1.68	0.26	-1.95
Omega ratio Gain probability vs. loss probability	0.79	1.03	-0.24
Calmar ratio Return relative to maximum drawdown	-0.92	-0.04	-0.88
Martin ratio Return relative to average drawdown	-1.45	-0.11	-1.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3690.HK vs. TCEHY - Sharpe Ratio Comparison

The current 3690.HK Sharpe Ratio is -1.11, which is lower than the TCEHY Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of 3690.HK and TCEHY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	3690.HK	TCEHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.11	0.02	-1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.42	-0.08	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.67	-0.64

Correlation

The correlation between 3690.HK and TCEHY is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

3690.HK vs. TCEHY - Dividend Comparison

3690.HK has not paid dividends to shareholders, while TCEHY's dividend yield for the trailing twelve months is around 0.92%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
3690.HK Meituan	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TCEHY Tencent Holdings Limited	0.92%	0.76%	0.82%	6.67%	4.15%	0.35%	0.19%	0.23%	0.26%	0.29%	0.51%	0.21%

Drawdowns

3690.HK vs. TCEHY - Drawdown Comparison

The maximum 3690.HK drawdown since its inception was -86.14%, which is greater than TCEHY's maximum drawdown of -72.83%. Use the drawdown chart below to compare losses from any high point for 3690.HK and TCEHY.

Drawdown Indicators

	3690.HK	TCEHY	Difference
Max Drawdown Largest peak-to-trough decline	-86.14%	-73.17%	-12.97%
Max Drawdown (1Y) Largest decline over 1 year	-52.82%	-30.12%	-22.70%
Max Drawdown (5Y) Largest decline over 5 years	-81.05%	-68.59%	-12.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-73.17%	—
Current Drawdown Current decline from peak	-81.62%	-28.80%	-52.82%
Average Drawdown Average peak-to-trough decline	-47.88%	-19.54%	-28.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.87%	11.01%	+23.86%

Volatility

3690.HK vs. TCEHY - Volatility Comparison

Meituan (3690.HK) has a higher volatility of 16.42% compared to Tencent Holdings Limited (TCEHY) at 15.14%. This indicates that 3690.HK's price experiences larger fluctuations and is considered to be riskier than TCEHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3690.HK	TCEHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.42%	15.14%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	26.32%	22.51%	+3.81%
Volatility (1Y) Calculated over the trailing 1-year period	42.97%	31.87%	+11.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.12%	43.11%	+15.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.30%	38.60%	+18.70%

Financials