3988.HK vs. HSBC

Last updated Jun 25, 2026

3988.HK (Bank of China Limited) and HSBC (HSBC Holdings plc) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, 3988.HK returned 12.94%/yr vs 18.67%/yr for HSBC. At a 0.29 correlation, their price movements are largely independent.

Performance

3988.HK vs. HSBC - Performance Comparison

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

Different Trading Currencies

3988.HK is traded in HKD, while HSBC is traded in USD. To make them comparable, the HSBC 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 18.16% return, which is significantly lower than HSBC's 26.56% return. Over the past 10 years, 3988.HK has underperformed HSBC with an annualized return of 12.94%, while HSBC has yielded a comparatively higher 18.67% annualized return.

3988.HK

• 1D: -1.31%
• 1M: 0.76%
• YTD: 18.16%
• 6M: 18.96%
• 1Y: 15.34%
• 3Y*: 29.39%
• 5Y*: 21.03%
• 10Y*: 12.94%

HSBC

• 1D: 0.00%
• 1M: 3.96%
• YTD: 26.56%
• 6M: 25.22%
• 1Y: 64.96%
• 3Y*: 45.67%
• 5Y*: 34.59%
• 10Y*: 18.67%

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

3988.HK vs. HSBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
3988.HK Bank of China Limited	18.16%	22.96%	42.97%	14.21%	10.25%	14.66%	-14.78%	4.69%	-6.88%	17.45%
HSBC HSBC Holdings plc	26.56%	68.23%	33.79%	39.43%	7.97%	21.42%	-32.01%	0.90%	-15.87%	37.08%

Correlation

The correlation between 3988.HK and HSBC is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jul 27, 2007	0.29

Over the past year, the correlation between 3988.HK and HSBC has dropped to 0.03 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.

Return for Risk

3988.HK vs. HSBC — 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: 67
3988.HK Sharpe Ratio Rank: 71
3988.HK Sortino Ratio Rank: 65
3988.HK Omega Ratio Rank: 62
3988.HK Calmar Ratio Rank: 67
3988.HK Martin Ratio Rank: 69

HSBC

HSBC Risk / Return Rank: 90
HSBC Sharpe Ratio Rank: 92
HSBC Sortino Ratio Rank: 90
HSBC Omega Ratio Rank: 90
HSBC Calmar Ratio Rank: 88
HSBC Martin Ratio Rank: 92

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. HSBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bank of China Limited (3988.HK) and HSBC Holdings plc (HSBC). 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.

	3988.HK	HSBC	Difference
Sharpe ratio: Return per unit of total volatility	0.93	2.43	-1.50
Sortino ratio: Return per unit of downside risk	1.38	3.13	-1.75
Omega ratio: Gain probability vs. loss probability	1.16	1.42	-0.26
Calmar ratio: Return relative to maximum drawdown	1.25	4.04	-2.78
Martin ratio: Return relative to average drawdown	3.14	14.18	-11.05

3988.HK vs. HSBC - Sharpe Ratio Comparison

The current 3988.HK Sharpe Ratio is 0.93, which is lower than the HSBC Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of 3988.HK and HSBC, 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

3988.HK vs. HSBC - Drawdown Comparison

The maximum 3988.HK drawdown since its inception was -65.26%, smaller than the maximum HSBC drawdown of -74.45%. Use the drawdown chart below to compare losses from any high point for 3988.HK and HSBC.

Drawdown Indicators

	3988.HK	HSBC	Difference
Max Drawdown Largest peak-to-trough decline	-65.26%	-74.45%	+9.19%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-16.18%	+3.57%
Max Drawdown (3Y) Largest decline over 3 years	-13.24%	-21.84%	+8.60%
Max Drawdown (5Y) Largest decline over 5 years	-17.25%	-31.31%	+14.06%
Max Drawdown (10Y) Largest decline over 10 years	-40.56%	-62.59%	+22.03%
Current Drawdown Current decline from peak	-4.70%	-0.93%	-3.77%
Average Drawdown Average peak-to-trough decline	-19.61%	-29.55%	+9.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.97%	4.59%	+0.38%

Volatility

3988.HK vs. HSBC - Volatility Comparison

The current volatility for Bank of China Limited (3988.HK) is 5.87%, while HSBC Holdings plc (HSBC) has a volatility of 9.09%. This indicates that 3988.HK experiences smaller price fluctuations and is considered to be less risky than HSBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3988.HK	HSBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.87%	9.09%	-3.22%
Volatility (6M) Calculated over the trailing 6-month period	12.53%	22.22%	-9.69%
Volatility (1Y) Calculated over the trailing 1-year period	17.02%	27.01%	-9.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	25.91%	-7.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	25.39%	-6.43%

Dividends

3988.HK vs. HSBC - Dividend Comparison

3988.HK's dividend yield for the trailing twelve months is around 2.29%, less than HSBC's 4.00% yield.

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%	6.96%
HSBC HSBC Holdings plc	4.00%	4.19%	8.29%	6.54%	4.33%	3.65%	4.05%	6.52%	6.20%	4.94%	6.35%	6.33%

Financials

Frequently Asked Questions

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

3988.HK and HSBC have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.