BILI vs. NTES
BILI (Bilibili Inc.) and NTES (NetEase, Inc.) are both stocks. Both are in the Communication Services sector — BILI in Electronic Gaming & Multimedia, NTES in Internet Content & Information. Over the past 5 years, BILI returned -33.38%/yr vs 4.30%/yr for NTES. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
BILI vs. NTES - Performance Comparison
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Returns By Period
In the year-to-date period, BILI achieves a -35.10% return, which is significantly lower than NTES's -11.97% return.
BILI
- 1D
- -4.77%
- 1M
- -7.37%
- YTD
- -35.10%
- 6M
- -36.01%
- 1Y
- -19.84%
- 3Y*
- 2.23%
- 5Y*
- -33.38%
- 10Y*
- —
NTES
- 1D
- -1.91%
- 1M
- 2.92%
- YTD
- -11.97%
- 6M
- -12.24%
- 1Y
- -6.27%
- 3Y*
- 11.43%
- 5Y*
- 4.30%
- 10Y*
- 15.30%
BILI vs. NTES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BILI Bilibili Inc. | -35.10% | 35.78% | 48.81% | -48.63% | -48.94% | -45.87% | 360.37% | 27.62% | 48.88% |
NTES NetEase, Inc. | -11.97% | 58.28% | -1.73% | 30.59% | -27.35% | 7.11% | 57.88% | 34.66% | -15.68% |
Correlation
The correlation between BILI and NTES is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2018 | 0.53 |
The correlation between BILI and NTES shifts across timeframes, from 0.43 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
BILI:
$7.33B
NTES:
$76.97B
BILI:
CN¥3.12
NTES:
CN¥52.95
BILI:
34.62
NTES:
15.24
BILI:
1.59
NTES:
4.55
BILI:
3.18
NTES:
3.16
BILI:
CN¥30.77B
NTES:
CN¥114.39B
BILI:
CN¥11.33B
NTES:
CN¥75.14B
BILI:
CN¥1.53B
NTES:
CN¥40.24B
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Return for Risk
BILI vs. NTES — Risk / Return Rank
BILI
NTES
BILI vs. NTES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bilibili Inc. (BILI) and NetEase, Inc. (NTES). 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.
| BILI | NTES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.99 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | -0.21 | -0.15 |
| Martin ratioReturn relative to average drawdown | -0.81 | -0.36 | -0.45 |
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Drawdowns
BILI vs. NTES - Drawdown Comparison
The maximum BILI drawdown since its inception was -94.30%, roughly equal to the maximum NTES drawdown of -96.54%. Use the drawdown chart below to compare losses from any high point for BILI and NTES.
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Drawdown Indicators
| BILI | NTES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.30% | -96.54% | +2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -55.57% | -30.46% | -25.11% |
Max Drawdown (3Y)Largest decline over 3 years | -55.57% | -33.97% | -21.60% |
Max Drawdown (5Y)Largest decline over 5 years | -92.97% | -51.38% | -41.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.34% | — |
Current DrawdownCurrent decline from peak | -89.79% | -23.66% | -66.13% |
Average DrawdownAverage peak-to-trough decline | -58.05% | -24.65% | -33.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.68% | 17.51% | +7.17% |
Volatility
BILI vs. NTES - Volatility Comparison
Bilibili Inc. (BILI) has a higher volatility of 12.59% compared to NetEase, Inc. (NTES) at 9.09%. This indicates that BILI's price experiences larger fluctuations and is considered to be riskier than NTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BILI | NTES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.59% | 9.09% | +3.50% |
Volatility (6M)Calculated over the trailing 6-month period | 36.96% | 21.00% | +15.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.51% | 29.40% | +20.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.14% | 43.68% | +35.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.86% | 41.83% | +32.03% |
Dividends
BILI vs. NTES - Dividend Comparison
BILI has not paid dividends to shareholders, while NTES's dividend yield for the trailing twelve months is around 2.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BILI Bilibili Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NTES NetEase, Inc. | 2.53% | 2.21% | 2.74% | 1.88% | 2.10% | 0.80% | 0.97% | 3.19% | 0.71% | 1.05% | 1.36% | 0.98% |
Financials
BILI vs. NTES - Financials Comparison
This section allows you to compare key financial metrics between Bilibili Inc. and NetEase, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BILI vs. NTES - Profitability Comparison
BILI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Bilibili Inc. reported a gross profit of 2.76B and revenue of 7.43B. Therefore, the gross margin over that period was 37.1%.
NTES - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, NetEase, Inc. reported a gross profit of 21.22B and revenue of 30.59B. Therefore, the gross margin over that period was 69.4%.
BILI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Bilibili Inc. reported an operating income of 165.75M and revenue of 7.43B, resulting in an operating margin of 2.2%.
NTES - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, NetEase, Inc. reported an operating income of 12.66B and revenue of 30.59B, resulting in an operating margin of 41.4%.
BILI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Bilibili Inc. reported a net income of 208.51M and revenue of 7.43B, resulting in a net margin of 2.8%.
NTES - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, NetEase, Inc. reported a net income of 10.67B and revenue of 30.59B, resulting in a net margin of 34.9%.
Frequently Asked Questions
BILI and NTES have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BILI has higher volatility (12.59%) compared to NTES (9.09%). In terms of maximum drawdown, BILI dropped -94.30% vs NTES's -96.54%.
NTES currently has the higher Sharpe Ratio (-0.21 vs -0.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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