3690.HK vs. VIPS

Last updated Jun 5, 2026

3690.HK (Meituan) and VIPS (Vipshop Holdings Limited) are both stocks. Both operate in the Internet Retail industry within the Consumer Cyclical sector. Over the past 5 years, 3690.HK returned -23.61%/yr vs -8.28%/yr for VIPS. At a 0.25 correlation, their price movements are largely independent.

Performance

3690.HK vs. VIPS - Performance Comparison

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

Different Trading Currencies

3690.HK is traded in HKD, while VIPS is traded in USD. To make them comparable, the VIPS 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 -23.91% return, which is significantly lower than VIPS's -19.82% return.

3690.HK

• 1D: -2.24%
• 1M: -4.73%
• YTD: -23.91%
• 6M: -20.65%
• 1Y: -45.57%
• 3Y*: -13.54%
• 5Y*: -23.61%
• 10Y*: —

VIPS

• 1D: -2.32%
• 1M: -8.17%
• YTD: -19.82%
• 6M: -29.52%
• 1Y: -2.77%
• 3Y*: -3.04%
• 5Y*: -8.28%
• 10Y*: 2.35%

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

3690.HK vs. VIPS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
3690.HK Meituan	-23.91%	-31.91%	85.23%	-53.12%	-22.49%	-23.49%	189.11%	132.12%	-39.57%
VIPS Vipshop Holdings Limited	-19.82%	36.57%	-22.65%	30.19%	62.66%	-69.96%	97.49%	158.15%	-16.77%

Correlation

The correlation between 3690.HK and VIPS is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Sep 21, 2018	0.25

Return for Risk

3690.HK vs. VIPS — 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: 3
3690.HK Omega Ratio Rank: 5
3690.HK Calmar Ratio Rank: 7
3690.HK Martin Ratio Rank: 11

VIPS

VIPS Risk / Return Rank: 36
VIPS Sharpe Ratio Rank: 38
VIPS Sortino Ratio Rank: 33
VIPS Omega Ratio Rank: 33
VIPS Calmar Ratio Rank: 39
VIPS 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. VIPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Meituan (3690.HK) and Vipshop Holdings Limited (VIPS). 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	VIPS	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	-0.08	-1.01
Sortino ratio: Return per unit of downside risk	-1.82	0.11	-1.93
Omega ratio: Gain probability vs. loss probability	0.80	1.01	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.89	-0.09	-0.80
Martin ratio: Return relative to average drawdown	-1.33	-0.18	-1.14
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. VIPS - Sharpe Ratio Comparison

The current 3690.HK Sharpe Ratio is -1.10, which is lower than the VIPS Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of 3690.HK and VIPS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	3690.HK	VIPS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.10	-0.08	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.42	-0.16	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.45	-0.43

Drawdowns

3690.HK vs. VIPS - Drawdown Comparison

The maximum 3690.HK drawdown since its inception was -86.14%, roughly equal to the maximum VIPS drawdown of -86.64%. Use the drawdown chart below to compare losses from any high point for 3690.HK and VIPS.

Drawdown Indicators

	3690.HK	VIPS	Difference
Max Drawdown Largest peak-to-trough decline	-86.14%	-86.64%	+0.50%
Max Drawdown (1Y) Largest decline over 1 year	-50.61%	-31.40%	-19.21%
Max Drawdown (3Y) Largest decline over 3 years	-65.65%	-39.62%	-26.03%
Max Drawdown (5Y) Largest decline over 5 years	-81.05%	-72.61%	-8.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-86.64%	—
Current Drawdown Current decline from peak	-82.59%	-66.82%	-15.77%
Average Drawdown Average peak-to-trough decline	-48.63%	-48.21%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.40%	15.05%	+18.35%

Volatility

3690.HK vs. VIPS - Volatility Comparison

Meituan (3690.HK) has a higher volatility of 16.17% compared to Vipshop Holdings Limited (VIPS) at 9.39%. This indicates that 3690.HK's price experiences larger fluctuations and is considered to be riskier than VIPS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3690.HK	VIPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.17%	9.39%	+6.78%
Volatility (6M) Calculated over the trailing 6-month period	31.27%	24.23%	+7.04%
Volatility (1Y) Calculated over the trailing 1-year period	41.11%	32.72%	+8.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.82%	52.85%	+4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.16%	55.31%	+1.85%

Dividends

3690.HK vs. VIPS - Dividend Comparison

3690.HK has not paid dividends to shareholders, while VIPS's dividend yield for the trailing twelve months is around 4.58%.

Position	TTM	2025	2024
3690.HK Meituan	0.00%	0.00%	0.00%
VIPS Vipshop Holdings Limited	4.58%	2.71%	3.19%

Financials

Frequently Asked Questions

Can I hold both 3690.HK and VIPS in my portfolio?

3690.HK and VIPS have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.