3868.HK vs. 0968.HK

Last updated Jun 5, 2026

3868.HK (Xinyi Energy Holdings Ltd) and 0968.HK (Xinyi Solar Holdings Ltd) are both stocks. 3868.HK operates in Utilities - Renewable (Utilities), while 0968.HK operates in Solar (Technology). Over the past 5 years, 3868.HK returned -15.78%/yr vs -25.79%/yr for 0968.HK. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

3868.HK vs. 0968.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Xinyi Energy Holdings Ltd (3868.HK) and Xinyi Solar Holdings Ltd (0968.HK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 3868.HK achieves a 11.34% return, which is significantly higher than 0968.HK's -11.86% return.

3868.HK

• 1D: -5.56%
• 1M: 1.22%
• YTD: 11.34%
• 6M: 3.79%
• 1Y: 26.77%
• 3Y*: -14.25%
• 5Y*: -15.78%
• 10Y*: —

0968.HK

• 1D: 0.77%
• 1M: -13.03%
• YTD: -11.86%
• 6M: -19.45%
• 1Y: 10.50%
• 3Y*: -29.86%
• 5Y*: -25.79%
• 10Y*: 1.31%

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

3868.HK vs. 0968.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
3868.HK Xinyi Energy Holdings Ltd	11.34%	47.00%	-41.89%	-41.85%	-36.49%	-15.76%	173.71%	7.61%
0968.HK Xinyi Solar Holdings Ltd	-11.86%	-4.18%	-27.05%	-46.07%	-33.65%	-33.16%	275.49%	31.80%

Correlation

The correlation between 3868.HK and 0968.HK is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since May 29, 2019	0.53

The correlation between 3868.HK and 0968.HK has been stable across timeframes, ranging from 0.52 to 0.55 - a consistent structural relationship.

Return for Risk

3868.HK vs. 0968.HK — Risk / Return Rank

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

3868.HK

3868.HK Risk / Return Rank: 59
3868.HK Sharpe Ratio Rank: 61
3868.HK Sortino Ratio Rank: 58
3868.HK Omega Ratio Rank: 54
3868.HK Calmar Ratio Rank: 61
3868.HK Martin Ratio Rank: 59

0968.HK

0968.HK Risk / Return Rank: 50
0968.HK Sharpe Ratio Rank: 52
0968.HK Sortino Ratio Rank: 50
0968.HK Omega Ratio Rank: 47
0968.HK Calmar Ratio Rank: 51
0968.HK Martin Ratio Rank: 51

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.

3868.HK vs. 0968.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xinyi Energy Holdings Ltd (3868.HK) and Xinyi Solar Holdings Ltd (0968.HK). 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.

	3868.HK	0968.HK	Difference
Sharpe ratio: Return per unit of total volatility	0.56	0.29	+0.27
Sortino ratio: Return per unit of downside risk	1.17	0.78	+0.39
Omega ratio: Gain probability vs. loss probability	1.13	1.09	+0.05
Calmar ratio: Return relative to maximum drawdown	0.95	0.39	+0.56
Martin ratio: Return relative to average drawdown	1.70	0.83	+0.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3868.HK vs. 0968.HK - Sharpe Ratio Comparison

The current 3868.HK Sharpe Ratio is 0.56, which is higher than the 0968.HK Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of 3868.HK and 0968.HK, 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

	3868.HK	0968.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	0.29	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.34	-0.50	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.20	-0.24

Drawdowns

3868.HK vs. 0968.HK - Drawdown Comparison

The maximum 3868.HK drawdown since its inception was -86.54%, roughly equal to the maximum 0968.HK drawdown of -88.39%. Use the drawdown chart below to compare losses from any high point for 3868.HK and 0968.HK.

Drawdown Indicators

	3868.HK	0968.HK	Difference
Max Drawdown Largest peak-to-trough decline	-86.54%	-88.39%	+1.85%
Max Drawdown (1Y) Largest decline over 1 year	-23.61%	-35.06%	+11.45%
Max Drawdown (3Y) Largest decline over 3 years	-72.72%	-74.25%	+1.53%
Max Drawdown (5Y) Largest decline over 5 years	-86.22%	-86.73%	+0.51%
Max Drawdown (10Y) Largest decline over 10 years	—	-88.39%	—
Current Drawdown Current decline from peak	-74.02%	-86.50%	+12.48%
Average Drawdown Average peak-to-trough decline	-46.59%	-36.80%	-9.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.03%	16.30%	-3.27%

Volatility

3868.HK vs. 0968.HK - Volatility Comparison

Xinyi Energy Holdings Ltd (3868.HK) and Xinyi Solar Holdings Ltd (0968.HK) have volatilities of 11.73% and 11.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3868.HK	0968.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.73%	11.52%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	25.11%	29.92%	-4.81%
Volatility (1Y) Calculated over the trailing 1-year period	42.47%	47.02%	-4.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.99%	52.85%	-5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.03%	49.32%	-1.29%

Dividends

3868.HK vs. 0968.HK - Dividend Comparison

3868.HK's dividend yield for the trailing twelve months is around 5.46%, more than 0968.HK's 1.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
0968.HK Xinyi Solar Holdings Ltd	1.92%	1.41%	7.96%	3.84%	2.31%	2.57%	0.84%	1.75%	5.45%	4.64%	4.96%	2.08%
3868.HK Xinyi Energy Holdings Ltd	5.46%	5.09%	6.20%	7.55%	6.83%	3.72%	2.76%	2.45%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both 3868.HK and 0968.HK in my portfolio?

3868.HK and 0968.HK have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.