9988.HK vs. ^HSI

Last updated Apr 3, 2026

Compare and contrast key facts about Alibaba Group Holding Ltd (9988.HK) and Hang Seng Index (^HSI).

Performance

9988.HK vs. ^HSI - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Alibaba Group Holding Ltd (9988.HK) and Hang Seng Index (^HSI). The values are adjusted to include any dividend payments, if applicable.

9988.HK vs. ^HSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
9988.HK Alibaba Group Holding Ltd	-17.02%	73.87%	11.01%	-11.14%	-27.46%	-48.79%	12.07%	10.45%
^HSI Hang Seng Index	-2.01%	27.77%	17.67%	-13.82%	-15.46%	-14.08%	-3.40%	4.74%

Returns By Period

In the year-to-date period, 9988.HK achieves a -17.02% return, which is significantly lower than ^HSI's -2.01% return.

9988.HK

• 1D: -3.42%
• 1M: -12.09%
• YTD: -17.02%
• 6M: -35.28%
• 1Y: -8.05%
• 3Y*: 7.60%
• 5Y*: -11.46%
• 10Y*: —

^HSI

• 1D: -0.70%
• 1M: -2.53%
• YTD: -2.01%
• 6M: -7.95%
• 1Y: 8.25%
• 3Y*: 7.16%
• 5Y*: -2.79%
• 10Y*: 2.05%

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

Return for Risk

9988.HK vs. ^HSI — Risk / Return Rank

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

9988.HK

9988.HK Risk / Return Rank: 32
9988.HK Sharpe Ratio Rank: 32
9988.HK Sortino Ratio Rank: 30
9988.HK Omega Ratio Rank: 30
9988.HK Calmar Ratio Rank: 34
9988.HK Martin Ratio Rank: 33

^HSI

^HSI Risk / Return Rank: 27
^HSI Sharpe Ratio Rank: 27
^HSI Sortino Ratio Rank: 25
^HSI Omega Ratio Rank: 25
^HSI Calmar Ratio Rank: 29
^HSI Martin Ratio Rank: 30

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.

9988.HK vs. ^HSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alibaba Group Holding Ltd (9988.HK) and Hang Seng Index (^HSI). 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.

	9988.HK	^HSI	Difference
Sharpe ratio Return per unit of total volatility	-0.17	0.37	-0.53
Sortino ratio Return per unit of downside risk	0.11	0.60	-0.49
Omega ratio Gain probability vs. loss probability	1.01	1.09	-0.08
Calmar ratio Return relative to maximum drawdown	-0.18	0.48	-0.66
Martin ratio Return relative to average drawdown	-0.41	1.55	-1.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

9988.HK vs. ^HSI - Sharpe Ratio Comparison

The current 9988.HK Sharpe Ratio is -0.17, which is lower than the ^HSI Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of 9988.HK and ^HSI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	9988.HK	^HSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.17	0.37	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	-0.11	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	0.27	-0.40

Correlation

The correlation between 9988.HK and ^HSI is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

9988.HK vs. ^HSI - Drawdown Comparison

The maximum 9988.HK drawdown since its inception was -80.01%, which is greater than ^HSI's maximum drawdown of -65.18%. Use the drawdown chart below to compare losses from any high point for 9988.HK and ^HSI.

Drawdown Indicators

	9988.HK	^HSI	Difference
Max Drawdown Largest peak-to-trough decline	-80.01%	-65.18%	-14.83%
Max Drawdown (1Y) Largest decline over 1 year	-35.98%	-13.22%	-22.76%
Max Drawdown (5Y) Largest decline over 5 years	-74.16%	-50.16%	-24.00%
Max Drawdown (10Y) Largest decline over 10 years	—	-55.70%	—
Current Drawdown Current decline from peak	-60.07%	-24.24%	-35.83%
Average Drawdown Average peak-to-trough decline	-51.85%	-24.18%	-27.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.74%	4.90%	+10.84%

Volatility

9988.HK vs. ^HSI - Volatility Comparison

Alibaba Group Holding Ltd (9988.HK) has a higher volatility of 14.04% compared to Hang Seng Index (^HSI) at 7.18%. This indicates that 9988.HK's price experiences larger fluctuations and is considered to be riskier than ^HSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	9988.HK	^HSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.04%	7.18%	+6.86%
Volatility (6M) Calculated over the trailing 6-month period	29.88%	14.23%	+15.65%
Volatility (1Y) Calculated over the trailing 1-year period	49.24%	23.12%	+26.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.63%	25.25%	+26.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.42%	21.94%	+27.48%