CPT vs. 0823.HK

Last updated Jun 9, 2026

CPT (Camden Property Trust) and 0823.HK (Link Real Estate Investment Trust) are both stocks. Both are in the Real Estate sector — CPT in REIT - Residential, 0823.HK in REIT - Retail. Over the past 10 years, CPT returned 7.55%/yr vs 2.55%/yr for 0823.HK. At a 0.04 correlation, their price movements are largely independent.

Performance

CPT vs. 0823.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Camden Property Trust (CPT) and Link Real Estate Investment Trust (0823.HK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CPT is traded in USD, while 0823.HK is traded in HKD. To make them comparable, the 0823.HK values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CPT achieves a 3.75% return, which is significantly lower than 0823.HK's 11.17% return. Over the past 10 years, CPT has outperformed 0823.HK with an annualized return of 7.55%, while 0823.HK has yielded a comparatively lower 2.55% annualized return.

CPT

• 1D: 0.33%
• 1M: 8.87%
• YTD: 3.75%
• 6M: 12.33%
• 1Y: 1.52%
• 3Y*: 3.86%
• 5Y*: 0.18%
• 10Y*: 7.55%

0823.HK

• 1D: -0.19%
• 1M: -5.33%
• YTD: 11.17%
• 6M: 10.38%
• 1Y: -0.17%
• 3Y*: -0.13%
• 5Y*: -6.89%
• 10Y*: 2.55%

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

CPT vs. 0823.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPT Camden Property Trust	3.75%	-1.48%	21.31%	-7.64%	-35.58%	83.40%	-2.28%	24.21%	-0.98%	13.33%
0823.HK Link Real Estate Investment Trust	11.17%	12.99%	-18.31%	-18.82%	-12.50%	0.71%	-10.44%	7.90%	13.05%	47.81%

Correlation

The correlation between CPT and 0823.HK is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jun 27, 2007	0.04

The correlation between CPT and 0823.HK shifts across timeframes, from -0.10 (1 year) to 0.05 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

CPT vs. 0823.HK — Risk / Return Rank

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

CPT

CPT Risk / Return Rank: 41
CPT Sharpe Ratio Rank: 46
CPT Sortino Ratio Rank: 37
CPT Omega Ratio Rank: 36
CPT Calmar Ratio Rank: 45
CPT Martin Ratio Rank: 44

0823.HK

0823.HK Risk / Return Rank: 41
0823.HK Sharpe Ratio Rank: 45
0823.HK Sortino Ratio Rank: 36
0823.HK Omega Ratio Rank: 37
0823.HK Calmar Ratio Rank: 43
0823.HK Martin Ratio Rank: 43

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.

CPT vs. 0823.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Camden Property Trust (CPT) and Link Real Estate Investment Trust (0823.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.

	CPT	0823.HK	Difference
Sharpe ratio: Return per unit of total volatility	0.08	0.10	-0.02
Sortino ratio: Return per unit of downside risk	0.25	0.25	0.00
Omega ratio: Gain probability vs. loss probability	1.03	1.04	-0.01
Calmar ratio: Return relative to maximum drawdown	0.10	0.10	0.00
Martin ratio: Return relative to average drawdown	0.18	0.17	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPT vs. 0823.HK - Sharpe Ratio Comparison

The current CPT Sharpe Ratio is 0.08, which is comparable to the 0823.HK Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of CPT and 0823.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

	CPT	0823.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.08	0.10	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	-0.30	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.12	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.42	-0.03

Drawdowns

CPT vs. 0823.HK - Drawdown Comparison

The maximum CPT drawdown since its inception was -75.31%, which is greater than 0823.HK's maximum drawdown of -61.97%. Use the drawdown chart below to compare losses from any high point for CPT and 0823.HK.

Drawdown Indicators

	CPT	0823.HK	Difference
Max Drawdown Largest peak-to-trough decline	-75.31%	-61.97%	-13.34%
Max Drawdown (1Y) Largest decline over 1 year	-16.05%	-19.98%	+3.93%
Max Drawdown (3Y) Largest decline over 3 years	-24.87%	-31.41%	+6.54%
Max Drawdown (5Y) Largest decline over 5 years	-50.22%	-54.67%	+4.45%
Max Drawdown (10Y) Largest decline over 10 years	-50.22%	-61.97%	+11.75%
Current Drawdown Current decline from peak	-26.22%	-44.36%	+18.14%
Average Drawdown Average peak-to-trough decline	-12.91%	-17.77%	+4.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.58%	11.01%	-2.43%

Volatility

CPT vs. 0823.HK - Volatility Comparison

Camden Property Trust (CPT) has a higher volatility of 5.21% compared to Link Real Estate Investment Trust (0823.HK) at 4.87%. This indicates that CPT's price experiences larger fluctuations and is considered to be riskier than 0823.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPT	0823.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	4.87%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	14.28%	12.69%	+1.59%
Volatility (1Y) Calculated over the trailing 1-year period	19.39%	19.70%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.69%	23.73%	-1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.37%	22.59%	+1.78%

Dividends

CPT vs. 0823.HK - Dividend Comparison

CPT's dividend yield for the trailing twelve months is around 3.73%, less than 0823.HK's 6.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
0823.HK Link Real Estate Investment Trust	6.80%	7.61%	8.14%	5.68%	5.11%	4.36%	3.96%	3.32%	3.17%	3.19%	4.22%	4.03%
CPT Camden Property Trust	3.73%	3.82%	3.55%	4.03%	3.36%	1.93%	3.32%	3.02%	3.50%	3.26%	8.62%	3.65%

Financials

Frequently Asked Questions

Can I hold both CPT and 0823.HK in my portfolio?

CPT and 0823.HK have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.