6823.HK vs. 0939.HK

Last updated Jun 5, 2026

6823.HK (HKT Trust) and 0939.HK (China Construction Bank Corp) are both stocks. 6823.HK operates in Telecom Services (Communication Services), while 0939.HK operates in Banks - Diversified (Financial Services). Over the past 10 years, 6823.HK returned 7.58%/yr vs 12.51%/yr for 0939.HK. At a 0.18 correlation, their price movements are largely independent.

Performance

6823.HK vs. 0939.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in HKT Trust (6823.HK) and China Construction Bank Corp (0939.HK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 6823.HK achieves a 9.11% return, which is significantly lower than 0939.HK's 11.18% return. Over the past 10 years, 6823.HK has underperformed 0939.HK with an annualized return of 7.58%, while 0939.HK has yielded a comparatively higher 12.51% annualized return.

6823.HK

• 1D: -0.66%
• 1M: -0.33%
• YTD: 9.11%
• 6M: 7.15%
• 1Y: 12.94%
• 3Y*: 16.34%
• 5Y*: 10.88%
• 10Y*: 7.58%

0939.HK

• 1D: -0.23%
• 1M: -4.26%
• YTD: 11.18%
• 6M: 7.14%
• 1Y: 20.14%
• 3Y*: 29.50%
• 5Y*: 15.46%
• 10Y*: 12.51%

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

6823.HK vs. 0939.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
6823.HK HKT Trust	9.11%	28.26%	12.01%	5.55%	-2.32%	11.21%	-2.90%	2.96%	20.82%	11.36%
0939.HK China Construction Bank Corp	11.18%	30.12%	50.75%	3.86%	-2.12%	-2.09%	-7.31%	9.88%	-5.73%	26.92%

Correlation

The correlation between 6823.HK and 0939.HK is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Nov 30, 2011	0.18

Return for Risk

6823.HK vs. 0939.HK — Risk / Return Rank

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

6823.HK

6823.HK Risk / Return Rank: 65
6823.HK Sharpe Ratio Rank: 71
6823.HK Sortino Ratio Rank: 64
6823.HK Omega Ratio Rank: 62
6823.HK Calmar Ratio Rank: 64
6823.HK Martin Ratio Rank: 63

0939.HK

0939.HK Risk / Return Rank: 69
0939.HK Sharpe Ratio Rank: 74
0939.HK Sortino Ratio Rank: 68
0939.HK Omega Ratio Rank: 65
0939.HK Calmar Ratio Rank: 70
0939.HK Martin Ratio Rank: 69

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.

6823.HK vs. 0939.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HKT Trust (6823.HK) and China Construction Bank Corp (0939.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.

	6823.HK	0939.HK	Difference
Sharpe ratio: Return per unit of total volatility	1.00	1.10	-0.10
Sortino ratio: Return per unit of downside risk	1.46	1.61	-0.15
Omega ratio: Gain probability vs. loss probability	1.18	1.19	-0.01
Calmar ratio: Return relative to maximum drawdown	1.16	1.56	-0.40
Martin ratio: Return relative to average drawdown	2.45	3.60	-1.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

6823.HK vs. 0939.HK - Sharpe Ratio Comparison

The current 6823.HK Sharpe Ratio is 1.00, which is comparable to the 0939.HK Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of 6823.HK and 0939.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

	6823.HK	0939.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	1.10	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.76	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.59	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.24	+0.49

Drawdowns

6823.HK vs. 0939.HK - Drawdown Comparison

The maximum 6823.HK drawdown since its inception was -27.58%, smaller than the maximum 0939.HK drawdown of -69.85%. Use the drawdown chart below to compare losses from any high point for 6823.HK and 0939.HK.

Drawdown Indicators

	6823.HK	0939.HK	Difference
Max Drawdown Largest peak-to-trough decline	-27.58%	-69.85%	+42.27%
Max Drawdown (1Y) Largest decline over 1 year	-11.27%	-14.15%	+2.88%
Max Drawdown (3Y) Largest decline over 3 years	-13.87%	-14.91%	+1.04%
Max Drawdown (5Y) Largest decline over 5 years	-21.99%	-27.41%	+5.42%
Max Drawdown (10Y) Largest decline over 10 years	-26.70%	-38.35%	+11.65%
Current Drawdown Current decline from peak	-1.50%	-4.89%	+3.39%
Average Drawdown Average peak-to-trough decline	-7.23%	-19.90%	+12.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	6.05%	-0.77%

Volatility

6823.HK vs. 0939.HK - Volatility Comparison

The current volatility for HKT Trust (6823.HK) is 3.63%, while China Construction Bank Corp (0939.HK) has a volatility of 4.51%. This indicates that 6823.HK experiences smaller price fluctuations and is considered to be less risky than 0939.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	6823.HK	0939.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.63%	4.51%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	7.84%	14.07%	-6.23%
Volatility (1Y) Calculated over the trailing 1-year period	13.16%	20.11%	-6.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.77%	21.07%	-6.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.74%	21.78%	-5.04%

Dividends

6823.HK vs. 0939.HK - Dividend Comparison

6823.HK's dividend yield for the trailing twelve months is around 6.77%, more than 0939.HK's 2.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
0939.HK China Construction Bank Corp	2.39%	8.32%	6.77%	9.08%	8.71%	7.24%	5.94%	5.19%	5.34%	4.44%	5.41%	7.18%
6823.HK HKT Trust	6.77%	6.92%	8.06%	8.07%	7.67%	6.84%	7.00%	6.30%	5.84%	6.31%	5.82%	4.96%

Financials

Frequently Asked Questions

Can I hold both 6823.HK and 0939.HK in my portfolio?

6823.HK and 0939.HK have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.