H4ZJ.DE vs. HNR1.DE
H4ZJ.DE (HSBC MSCI World UCITS ETF USD) is Global Equities fund tracking the MSCI World, while HNR1.DE (Hannover Rück SE) is a stock. Over the past 10 years, H4ZJ.DE returned 12.53%/yr vs 14.39%/yr for HNR1.DE. At a 0.41 correlation, their price movements are largely independent.
Performance
H4ZJ.DE vs. HNR1.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZJ.DE achieves a 12.98% return, which is significantly higher than HNR1.DE's -1.19% return. Over the past 10 years, H4ZJ.DE has underperformed HNR1.DE with an annualized return of 12.53%, while HNR1.DE has yielded a comparatively higher 14.39% annualized return.
H4ZJ.DE
- 1D
- 0.16%
- 1M
- 1.59%
- 6M
- 10.74%
- YTD
- 12.98%
- 1Y
- 23.82%
- 3Y*
- 18.08%
- 5Y*
- 12.21%
- 10Y*
- 12.53%
HNR1.DE
- 1D
- -1.03%
- 1M
- 9.15%
- 6M
- 7.45%
- YTD
- -1.19%
- 1Y
- 0.24%
- 3Y*
- 13.86%
- 5Y*
- 15.73%
- 10Y*
- 14.39%
H4ZJ.DE vs. HNR1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
H4ZJ.DE HSBC MSCI World UCITS ETF USD | 12.98% | 7.95% | 25.68% | 20.11% | -13.93% | 32.79% | 5.51% | 30.99% | -4.99% | 7.69% |
HNR1.DE Hannover Rück SE | -1.19% | 13.83% | 15.17% | 20.36% | 15.47% | 32.14% | -21.42% | 52.31% | 17.14% | 2.04% |
Correlation
The correlation between H4ZJ.DE and HNR1.DE is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2013 | 0.41 |
Over the past year, the correlation between H4ZJ.DE and HNR1.DE has dropped to 0.09 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
H4ZJ.DE vs. HNR1.DE — Risk / Return Rank
H4ZJ.DE
HNR1.DE
H4ZJ.DE vs. HNR1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World UCITS ETF USD (H4ZJ.DE) and Hannover Rück SE (HNR1.DE). 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.
| H4ZJ.DE | HNR1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.73 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.02 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 0.02 | +3.79 |
| Martin ratioReturn relative to average drawdown | 15.44 | 0.03 | +15.41 |
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Drawdowns
H4ZJ.DE vs. HNR1.DE - Drawdown Comparison
The maximum H4ZJ.DE drawdown since its inception was -33.63%, smaller than the maximum HNR1.DE drawdown of -58.13%. Use the drawdown chart below to compare losses from any high point for H4ZJ.DE and HNR1.DE.
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Drawdown Indicators
| H4ZJ.DE | HNR1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -58.13% | +24.50% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -15.38% | +9.15% |
Max Drawdown (3Y)Largest decline over 3 years | -21.64% | -17.52% | -4.12% |
Max Drawdown (5Y)Largest decline over 5 years | -21.64% | -24.47% | +2.83% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | -44.13% | +10.50% |
Current DrawdownCurrent decline from peak | -0.07% | -7.45% | +7.38% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -9.87% | +5.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 8.80% | -7.26% |
Volatility
H4ZJ.DE vs. HNR1.DE - Volatility Comparison
The current volatility for HSBC MSCI World UCITS ETF USD (H4ZJ.DE) is 2.46%, while Hannover Rück SE (HNR1.DE) has a volatility of 3.62%. This indicates that H4ZJ.DE experiences smaller price fluctuations and is considered to be less risky than HNR1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZJ.DE | HNR1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.46% | 3.62% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 7.97% | 14.77% | -6.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.34% | 19.85% | -8.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.16% | 22.60% | -8.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.97% | 23.32% | -8.35% |
Dividends
H4ZJ.DE vs. HNR1.DE - Dividend Comparison
H4ZJ.DE's dividend yield for the trailing twelve months is around 1.14%, less than HNR1.DE's 4.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZJ.DE HSBC MSCI World UCITS ETF USD | 1.14% | 1.25% | 1.20% | 1.38% | 1.58% | 1.07% | 1.36% | 1.64% | 1.86% | 1.67% | 1.65% | 1.63% |
HNR1.DE Hannover Rück SE | 4.99% | 3.38% | 2.98% | 2.77% | 3.10% | 2.69% | 4.22% | 3.05% | 4.25% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
H4ZJ.DE and HNR1.DE have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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