COP vs. FHKCX

Last updated Jun 9, 2026

COP (ConocoPhillips Company) is a stock, while FHKCX (Fidelity China Region Fund) is China Equities fund managed by Fidelity. Over the past 10 years, COP returned 13.80%/yr vs 14.35%/yr for FHKCX. At a 0.27 correlation, their price movements are largely independent.

Performance

COP vs. FHKCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ConocoPhillips Company (COP) and Fidelity China Region Fund (FHKCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with COP having a 28.95% return and FHKCX slightly higher at 29.64%. Both investments have delivered pretty close results over the past 10 years, with COP having a 13.80% annualized return and FHKCX not far ahead at 14.35%.

COP

• 1D: 1.49%
• 1M: 5.18%
• YTD: 28.95%
• 6M: 29.96%
• 1Y: 40.83%
• 3Y*: 8.10%
• 5Y*: 18.98%
• 10Y*: 13.80%

FHKCX

• 1D: -5.93%
• 1M: -3.92%
• YTD: 29.64%
• 6M: 30.43%
• 1Y: 68.65%
• 3Y*: 30.45%
• 5Y*: 7.32%
• 10Y*: 14.35%

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

COP vs. FHKCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COP ConocoPhillips Company	28.95%	-2.34%	-12.02%	1.98%	71.69%	86.60%	-36.04%	6.63%	15.63%	11.95%
FHKCX Fidelity China Region Fund	29.64%	42.56%	23.15%	-0.29%	-23.87%	-13.69%	47.85%	35.12%	-17.43%	51.94%

Correlation

The correlation between COP and FHKCX is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996	0.27

The correlation between COP and FHKCX shifts across timeframes, from -0.07 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

COP vs. FHKCX — Risk / Return Rank

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

COP

COP Risk / Return Rank: 78
COP Sharpe Ratio Rank: 81
COP Sortino Ratio Rank: 75
COP Omega Ratio Rank: 72
COP Calmar Ratio Rank: 82
COP Martin Ratio Rank: 80

FHKCX

FHKCX Risk / Return Rank: 89
FHKCX Sharpe Ratio Rank: 94
FHKCX Sortino Ratio Rank: 81
FHKCX Omega Ratio Rank: 83
FHKCX Calmar Ratio Rank: 96
FHKCX Martin Ratio Rank: 93

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.

COP vs. FHKCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ConocoPhillips Company (COP) and Fidelity China Region Fund (FHKCX). 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.

	COP	FHKCX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	3.13	-1.72
Sortino ratio: Return per unit of downside risk	1.96	3.73	-1.76
Omega ratio: Gain probability vs. loss probability	1.23	1.54	-0.31
Calmar ratio: Return relative to maximum drawdown	2.75	6.41	-3.66
Martin ratio: Return relative to average drawdown	6.17	19.68	-13.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COP vs. FHKCX - Sharpe Ratio Comparison

The current COP Sharpe Ratio is 1.41, which is lower than the FHKCX Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of COP and FHKCX, 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

	COP	FHKCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	3.13	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.30	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.64	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.43	-0.20

Drawdowns

COP vs. FHKCX - Drawdown Comparison

The maximum COP drawdown since its inception was -84.55%, which is greater than FHKCX's maximum drawdown of -61.96%. Use the drawdown chart below to compare losses from any high point for COP and FHKCX.

Drawdown Indicators

	COP	FHKCX	Difference
Max Drawdown Largest peak-to-trough decline	-84.55%	-61.96%	-22.59%
Max Drawdown (1Y) Largest decline over 1 year	-14.90%	-10.80%	-4.10%
Max Drawdown (3Y) Largest decline over 3 years	-36.19%	-22.02%	-14.17%
Max Drawdown (5Y) Largest decline over 5 years	-36.19%	-52.42%	+16.23%
Max Drawdown (10Y) Largest decline over 10 years	-70.66%	-58.41%	-12.25%
Current Drawdown Current decline from peak	-10.48%	-7.33%	-3.15%
Average Drawdown Average peak-to-trough decline	-25.48%	-20.26%	-5.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.63%	3.51%	+3.12%

Volatility

COP vs. FHKCX - Volatility Comparison

The current volatility for ConocoPhillips Company (COP) is 7.55%, while Fidelity China Region Fund (FHKCX) has a volatility of 9.34%. This indicates that COP experiences smaller price fluctuations and is considered to be less risky than FHKCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COP	FHKCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.55%	9.34%	-1.79%
Volatility (6M) Calculated over the trailing 6-month period	22.71%	17.87%	+4.84%
Volatility (1Y) Calculated over the trailing 1-year period	29.22%	22.12%	+7.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.73%	24.38%	+8.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.65%	22.40%	+15.25%

Dividends

COP vs. FHKCX - Dividend Comparison

COP's dividend yield for the trailing twelve months is around 2.78%, more than FHKCX's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COP ConocoPhillips Company	2.78%	3.40%	3.35%	3.37%	4.23%	2.70%	4.23%	2.05%	1.86%	1.93%	1.99%	6.30%
FHKCX Fidelity China Region Fund	1.35%	1.75%	1.39%	1.92%	1.05%	10.77%	4.85%	0.66%	0.83%	0.39%	1.35%	15.47%

Frequently Asked Questions

Can I hold both COP and FHKCX in my portfolio?

COP and FHKCX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COP or FHKCX?

FHKCX has higher volatility (9.34%) compared to COP (7.55%). In terms of maximum drawdown, COP dropped -84.55% vs FHKCX's -61.96%.

Which has better risk-adjusted returns?

FHKCX currently has the higher Sharpe Ratio (3.13 vs 1.41), 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.