HCM vs. ^GSPC
HCM (HUTCHMED (China) Limited) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, HCM returned -1.20%/yr vs 13.29%/yr for ^GSPC. Their 0.27 correlation means their historical movements had little consistent relationship.
Performance
HCM vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, HCM achieves a -13.35% return, which is significantly lower than ^GSPC's 11.03% return. Over the past 10 years, HCM has underperformed ^GSPC with an annualized return of -1.20%, while ^GSPC has yielded a comparatively higher 13.29% annualized return.
HCM
- 1D
- 3.77%
- 1M
- 0.96%
- 6M
- -20.67%
- YTD
- -13.35%
- 1Y
- -33.12%
- 3Y*
- -11.17%
- 5Y*
- -22.68%
- 10Y*
- -1.20%
- ALL TIME*
- -1.49%
^GSPC
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^GSPC S&P 500 Index | $38.00T | $37.50T | $41.55T |
| $553.75K | $545.46K | $586.05K |
HCM vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HCM HUTCHMED (China) Limited | -13.35% | -7.49% | -20.43% | 22.53% | -57.87% | 9.56% | 27.72% | 8.58% | -41.43% | 190.49% |
^GSPC S&P 500 Index | 11.03% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between HCM and ^GSPC is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.29 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.27 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2016 | 0.27 |
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Return for Risk
HCM vs. ^GSPC — Risk / Return Rank
HCM
^GSPC
HCM vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HUTCHMED (China) Limited (HCM) and S&P 500 Index (^GSPC). 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.
| HCM | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -3.60 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.31 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 2.41 | -3.16 |
| Martin ratioReturn relative to average drawdown | -1.38 | 10.22 | -11.60 |
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Drawdowns
HCM vs. ^GSPC - Drawdown Comparison
The maximum HCM drawdown since its inception was -82.18%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for HCM and ^GSPC.
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Drawdown Indicators
| HCM | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.18% | -56.78% | -25.40% |
Max Drawdown (1Y)Largest decline over 1 year | -44.50% | -9.10% | -35.40% |
Max Drawdown (3Y)Largest decline over 3 years | -54.13% | -18.90% | -35.23% |
Max Drawdown (5Y)Largest decline over 5 years | -82.18% | -25.43% | -56.75% |
Max Drawdown (10Y)Largest decline over 10 years | -82.18% | -33.92% | -48.26% |
Current DrawdownCurrent decline from peak | -73.10% | -0.12% | -72.98% |
Average DrawdownAverage peak-to-trough decline | -40.68% | -10.70% | -29.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.06% | 2.14% | +21.92% |
Volatility
HCM vs. ^GSPC - Volatility Comparison
HUTCHMED (China) Limited (HCM) has a higher volatility of 13.41% compared to S&P 500 Index (^GSPC) at 3.80%. This indicates that HCM's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HCM | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.41% | 3.80% | +9.61% |
Volatility (6M)Calculated over the trailing 6-month period | 25.36% | 10.20% | +15.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.37% | 12.86% | +24.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.60% | 17.02% | +47.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.48% | 18.08% | +41.40% |
Frequently Asked Questions
HCM and ^GSPC have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HCM has higher volatility (13.41%) compared to ^GSPC (3.80%). In terms of maximum drawdown, HCM dropped -82.18% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.71 vs -0.89), 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.
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