ELV vs. FHKCX

Last updated Jun 9, 2026

ELV (Elevance Health Inc) is a stock, while FHKCX (Fidelity China Region Fund) is China Equities fund managed by Fidelity. Over the past 10 years, ELV returned 13.78%/yr vs 14.35%/yr for FHKCX. At a 0.22 correlation, their price movements are largely independent.

Performance

ELV vs. FHKCX - Performance Comparison

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

Returns By Period

In the year-to-date period, ELV achieves a 20.02% return, which is significantly lower than FHKCX's 29.64% return. Both investments have delivered pretty close results over the past 10 years, with ELV having a 13.78% annualized return and FHKCX not far ahead at 14.35%.

ELV

• 1D: 0.63%
• 1M: 10.60%
• YTD: 20.02%
• 6M: 27.26%
• 1Y: 8.57%
• 3Y*: -2.38%
• 5Y*: 3.00%
• 10Y*: 13.78%

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)

ELV vs. FHKCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ELV Elevance Health Inc	20.02%	-3.14%	-20.72%	-6.89%	11.83%	46.12%	7.74%	16.33%	18.11%	58.72%
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 ELV and FHKCX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Oct 31, 2001	0.22

The correlation between ELV and FHKCX shifts across timeframes, from 0.06 (3 years) to 0.22 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ELV vs. FHKCX — Risk / Return Rank

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

ELV

ELV Risk / Return Rank: 47
ELV Sharpe Ratio Rank: 50
ELV Sortino Ratio Rank: 44
ELV Omega Ratio Rank: 46
ELV Calmar Ratio Rank: 49
ELV Martin Ratio Rank: 48

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.

ELV vs. FHKCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Elevance Health Inc (ELV) 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.

	ELV	FHKCX	Difference
Sharpe ratio: Return per unit of total volatility	0.22	3.13	-2.91
Sortino ratio: Return per unit of downside risk	0.52	3.73	-3.20
Omega ratio: Gain probability vs. loss probability	1.08	1.54	-0.46
Calmar ratio: Return relative to maximum drawdown	0.28	6.41	-6.13
Martin ratio: Return relative to average drawdown	0.51	19.68	-19.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELV vs. FHKCX - Sharpe Ratio Comparison

The current ELV Sharpe Ratio is 0.22, which is lower than the FHKCX Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of ELV 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

	ELV	FHKCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.22	3.13	-2.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.30	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.64	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.43	+0.03

Drawdowns

ELV vs. FHKCX - Drawdown Comparison

The maximum ELV drawdown since its inception was -67.19%, which is greater than FHKCX's maximum drawdown of -61.96%. Use the drawdown chart below to compare losses from any high point for ELV and FHKCX.

Drawdown Indicators

	ELV	FHKCX	Difference
Max Drawdown Largest peak-to-trough decline	-67.19%	-61.96%	-5.23%
Max Drawdown (1Y) Largest decline over 1 year	-30.60%	-10.80%	-19.80%
Max Drawdown (3Y) Largest decline over 3 years	-50.38%	-22.02%	-28.36%
Max Drawdown (5Y) Largest decline over 5 years	-50.38%	-52.42%	+2.04%
Max Drawdown (10Y) Largest decline over 10 years	-50.38%	-58.41%	+8.03%
Current Drawdown Current decline from peak	-23.19%	-7.33%	-15.86%
Average Drawdown Average peak-to-trough decline	-15.29%	-20.26%	+4.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.76%	3.51%	+13.25%

Volatility

ELV vs. FHKCX - Volatility Comparison

The current volatility for Elevance Health Inc (ELV) is 8.30%, while Fidelity China Region Fund (FHKCX) has a volatility of 9.34%. This indicates that ELV 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

	ELV	FHKCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.30%	9.34%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	27.26%	17.87%	+9.39%
Volatility (1Y) Calculated over the trailing 1-year period	38.59%	22.12%	+16.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.93%	24.38%	+4.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.84%	22.40%	+8.44%

Dividends

ELV vs. FHKCX - Dividend Comparison

ELV's dividend yield for the trailing twelve months is around 1.64%, more than FHKCX's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELV Elevance Health Inc	1.64%	1.95%	1.77%	1.26%	1.00%	0.98%	1.18%	1.06%	1.14%	1.20%	1.81%	1.79%
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 ELV and FHKCX in my portfolio?

ELV and FHKCX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ELV or FHKCX?

FHKCX has higher volatility (9.34%) compared to ELV (8.30%). In terms of maximum drawdown, ELV dropped -67.19% vs FHKCX's -61.96%.

Which has better risk-adjusted returns?

FHKCX currently has the higher Sharpe Ratio (3.13 vs 0.22), 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.