HBH.DE vs. TSM

Last updated Jun 4, 2026

HBH.DE (Hornbach Holding VZO O.N.) and TSM (Taiwan Semiconductor Manufacturing Company Limited) are both stocks. HBH.DE operates in Home Improvement Retail (Consumer Cyclical), while TSM operates in Semiconductors (Technology). Over the past 10 years, HBH.DE returned 4.53%/yr vs 35.91%/yr for TSM. At a 0.10 correlation, their price movements are largely independent.

Performance

HBH.DE vs. TSM - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Hornbach Holding VZO O.N. (HBH.DE) and Taiwan Semiconductor Manufacturing Company Limited (TSM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HBH.DE is traded in EUR, while TSM is traded in USD. To make them comparable, the TSM values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, HBH.DE achieves a -8.83% return, which is significantly lower than TSM's 45.83% return. Over the past 10 years, HBH.DE has underperformed TSM with an annualized return of 4.53%, while TSM has yielded a comparatively higher 35.91% annualized return.

HBH.DE

• 1D: -1.55%
• 1M: -3.05%
• YTD: -8.83%
• 6M: -13.77%
• 1Y: -12.00%
• 3Y*: 6.37%
• 5Y*: 0.06%
• 10Y*: 4.53%

TSM

• 1D: -2.03%
• 1M: 9.51%
• YTD: 45.83%
• 6M: 49.42%
• 1Y: 119.21%
• 3Y*: 62.05%
• 5Y*: 32.98%
• 10Y*: 35.91%

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

HBH.DE vs. TSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HBH.DE Hornbach Holding VZO O.N.	-8.83%	18.07%	13.39%	-11.60%	-39.83%	71.85%	24.51%	61.07%	-42.97%	20.46%
TSM Taiwan Semiconductor Manufacturing Company Limited	45.83%	37.40%	105.29%	38.06%	-32.83%	20.48%	76.79%	68.57%	1.02%	24.08%

Correlation

The correlation between HBH.DE and TSM 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	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Aug 27, 2007	0.10

Return for Risk

HBH.DE vs. TSM — Risk / Return Rank

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

HBH.DE

HBH.DE Risk / Return Rank: 23
HBH.DE Sharpe Ratio Rank: 20
HBH.DE Sortino Ratio Rank: 18
HBH.DE Omega Ratio Rank: 19
HBH.DE Calmar Ratio Rank: 27
HBH.DE Martin Ratio Rank: 30

TSM

TSM Risk / Return Rank: 95
TSM Sharpe Ratio Rank: 96
TSM Sortino Ratio Rank: 95
TSM Omega Ratio Rank: 92
TSM Calmar Ratio Rank: 94
TSM Martin Ratio Rank: 97

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.

HBH.DE vs. TSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hornbach Holding VZO O.N. (HBH.DE) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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.

	HBH.DE	TSM	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	3.38	-3.88
Sortino ratio: Return per unit of downside risk	-0.56	3.95	-4.51
Omega ratio: Gain probability vs. loss probability	0.93	1.49	-0.55
Calmar ratio: Return relative to maximum drawdown	-0.41	7.66	-8.07
Martin ratio: Return relative to average drawdown	-0.64	25.05	-25.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HBH.DE vs. TSM - Sharpe Ratio Comparison

The current HBH.DE Sharpe Ratio is -0.50, which is lower than the TSM Sharpe Ratio of 3.38. The chart below compares the historical Sharpe Ratios of HBH.DE and TSM, 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

	HBH.DE	TSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.50	3.38	-3.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.91	-0.90
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	1.07	-0.91
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.80	-0.71

Drawdowns

HBH.DE vs. TSM - Drawdown Comparison

The maximum HBH.DE drawdown since its inception was -66.99%, which is greater than TSM's maximum drawdown of -50.24%. Use the drawdown chart below to compare losses from any high point for HBH.DE and TSM.

Drawdown Indicators

	HBH.DE	TSM	Difference
Max Drawdown Largest peak-to-trough decline	-66.99%	-50.24%	-16.75%
Max Drawdown (1Y) Largest decline over 1 year	-29.00%	-15.66%	-13.34%
Max Drawdown (3Y) Largest decline over 3 years	-29.00%	-40.23%	+11.23%
Max Drawdown (5Y) Largest decline over 5 years	-57.26%	-50.24%	-7.02%
Max Drawdown (10Y) Largest decline over 10 years	-57.26%	-50.24%	-7.02%
Current Drawdown Current decline from peak	-38.02%	-2.03%	-35.99%
Average Drawdown Average peak-to-trough decline	-28.97%	-10.50%	-18.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.77%	4.78%	+13.99%

Volatility

HBH.DE vs. TSM - Volatility Comparison

The current volatility for Hornbach Holding VZO O.N. (HBH.DE) is 5.78%, while Taiwan Semiconductor Manufacturing Company Limited (TSM) has a volatility of 11.38%. This indicates that HBH.DE experiences smaller price fluctuations and is considered to be less risky than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBH.DE	TSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	11.38%	-5.60%
Volatility (6M) Calculated over the trailing 6-month period	16.22%	26.50%	-10.28%
Volatility (1Y) Calculated over the trailing 1-year period	24.15%	35.50%	-11.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.84%	36.60%	-5.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.71%	33.83%	-4.12%

Dividends

HBH.DE vs. TSM - Dividend Comparison

HBH.DE's dividend yield for the trailing twelve months is around 3.14%, more than TSM's 0.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBH.DE Hornbach Holding VZO O.N.	3.14%	2.86%	3.31%	3.64%	3.11%	1.51%	1.91%	2.33%	3.64%	2.03%	2.39%	1.88%
TSM Taiwan Semiconductor Manufacturing Company Limited	0.76%	1.00%	1.18%	1.78%	2.49%	1.57%	1.56%	3.46%	3.64%	2.32%	2.61%	2.54%

Financials

Frequently Asked Questions

Can I hold both HBH.DE and TSM in my portfolio?

HBH.DE and TSM 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.