3988.HK vs. CICHF

Last updated Jun 5, 2026

3988.HK (Bank of China Limited) and CICHF (China Construction Bank Corporation) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, 3988.HK returned 12.68%/yr vs 21.92%/yr for CICHF. At a 0.29 correlation, their price movements are largely independent.

Performance

3988.HK vs. CICHF - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Bank of China Limited (3988.HK) and China Construction Bank Corporation (CICHF). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

3988.HK is traded in HKD, while CICHF is traded in USD. To make them comparable, the CICHF values have been converted to HKD using the latest available exchange rates.

Returns By Period

In the year-to-date period, 3988.HK achieves a 17.71% return, which is significantly higher than CICHF's 5.57% return. Over the past 10 years, 3988.HK has underperformed CICHF with an annualized return of 12.68%, while CICHF has yielded a comparatively higher 21.92% annualized return.

3988.HK

• 1D: -0.38%
• 1M: 1.94%
• YTD: 17.71%
• 6M: 15.38%
• 1Y: 16.90%
• 3Y*: 29.10%
• 5Y*: 20.60%
• 10Y*: 12.68%

CICHF

• 1D: -5.33%
• 1M: -13.30%
• YTD: 5.57%
• 6M: 2.32%
• 1Y: 10.79%
• 3Y*: 27.34%
• 5Y*: 12.81%
• 10Y*: 21.92%

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

3988.HK vs. CICHF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
3988.HK Bank of China Limited	17.71%	22.65%	43.37%	14.21%	10.25%	14.66%	-14.78%	4.69%	-6.88%	17.45%
CICHF China Construction Bank Corporation	5.57%	22.43%	57.38%	-0.16%	-8.79%	5.52%	-12.70%	10.76%	-10.13%	106.67%

Correlation

The correlation between 3988.HK and CICHF is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jul 9, 2007	0.29

The correlation between 3988.HK and CICHF shifts across timeframes, from 0.11 (5 years) to 0.29 (all time), reflecting how their relationship changes across market environments.

Return for Risk

3988.HK vs. CICHF — Risk / Return Rank

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

3988.HK

3988.HK Risk / Return Rank: 68
3988.HK Sharpe Ratio Rank: 73
3988.HK Sortino Ratio Rank: 66
3988.HK Omega Ratio Rank: 63
3988.HK Calmar Ratio Rank: 68
3988.HK Martin Ratio Rank: 70

CICHF

CICHF Risk / Return Rank: 50
CICHF Sharpe Ratio Rank: 47
CICHF Sortino Ratio Rank: 48
CICHF Omega Ratio Rank: 48
CICHF Calmar Ratio Rank: 54
CICHF Martin Ratio Rank: 53

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.

3988.HK vs. CICHF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bank of China Limited (3988.HK) and China Construction Bank Corporation (CICHF). 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.

	3988.HK	CICHF	Difference
Sharpe ratio: Return per unit of total volatility	1.06	0.15	+0.91
Sortino ratio: Return per unit of downside risk	1.53	0.74	+0.79
Omega ratio: Gain probability vs. loss probability	1.18	1.09	+0.09
Calmar ratio: Return relative to maximum drawdown	1.42	0.55	+0.87
Martin ratio: Return relative to average drawdown	3.56	1.03	+2.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3988.HK vs. CICHF - Sharpe Ratio Comparison

The current 3988.HK Sharpe Ratio is 1.06, which is higher than the CICHF Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of 3988.HK and CICHF, 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

	3988.HK	CICHF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.15	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.14	0.26	+0.88
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.39	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.32	0.00

Drawdowns

3988.HK vs. CICHF - Drawdown Comparison

The maximum 3988.HK drawdown since its inception was -66.11%, smaller than the maximum CICHF drawdown of -72.64%. Use the drawdown chart below to compare losses from any high point for 3988.HK and CICHF.

Drawdown Indicators

	3988.HK	CICHF	Difference
Max Drawdown Largest peak-to-trough decline	-66.11%	-72.64%	+6.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-19.81%	+7.20%
Max Drawdown (3Y) Largest decline over 3 years	-13.24%	-19.81%	+6.57%
Max Drawdown (5Y) Largest decline over 5 years	-17.25%	-31.48%	+14.23%
Max Drawdown (10Y) Largest decline over 10 years	-40.56%	-45.20%	+4.64%
Current Drawdown Current decline from peak	-1.13%	-13.99%	+12.86%
Average Drawdown Average peak-to-trough decline	-19.78%	-23.91%	+4.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.96%	10.52%	-5.56%

Volatility

3988.HK vs. CICHF - Volatility Comparison

The current volatility for Bank of China Limited (3988.HK) is 4.67%, while China Construction Bank Corporation (CICHF) has a volatility of 27.62%. This indicates that 3988.HK experiences smaller price fluctuations and is considered to be less risky than CICHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3988.HK	CICHF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	27.62%	-22.95%
Volatility (6M) Calculated over the trailing 6-month period	12.16%	53.56%	-41.40%
Volatility (1Y) Calculated over the trailing 1-year period	16.88%	70.78%	-53.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.64%	49.03%	-30.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	57.13%	-38.18%

Dividends

3988.HK vs. CICHF - Dividend Comparison

3988.HK's dividend yield for the trailing twelve months is around 2.29%, while CICHF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
3988.HK Bank of China Limited	2.29%	8.56%	6.53%	8.45%	9.12%	8.46%	7.90%	6.33%	6.26%	5.01%	6.02%	6.86%
CICHF China Construction Bank Corporation	0.00%	5.69%	6.51%	9.14%	0.00%	7.05%	6.25%	5.17%	0.00%	34.73%	43.08%	55.64%

Financials

Frequently Asked Questions

Can I hold both 3988.HK and CICHF in my portfolio?

3988.HK and CICHF have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.