HCXY vs. ^GSPC
HCXY (Hercules Capital, Inc.) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, HCXY returned 4.68%/yr vs 12.30%/yr for ^GSPC. At a 0.10 correlation, their price movements are largely independent.
Performance
HCXY vs. ^GSPC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HCXY achieves a 0.99% return, which is significantly lower than ^GSPC's 10.35% return.
HCXY
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 0.99%
- 6M
- 1.74%
- 1Y
- 7.47%
- 3Y*
- 8.01%
- 5Y*
- 4.68%
- 10Y*
- —
^GSPC
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
HCXY vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HCXY Hercules Capital, Inc. | 0.99% | 7.78% | 6.10% | 9.52% | -1.82% | 5.48% | 8.24% | 20.03% | -2.27% |
^GSPC S&P 500 Index | 10.35% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -13.97% |
Correlation
The correlation between HCXY and ^GSPC is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018 | 0.10 |
The correlation between HCXY and ^GSPC shifts across timeframes, from -0.06 (1 year) to 0.11 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HCXY vs. ^GSPC — Risk / Return Rank
HCXY
^GSPC
HCXY vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hercules Capital, Inc. (HCXY) 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.
| HCXY | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.41 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.93 | -0.59 |
| Martin ratioReturn relative to average drawdown | 6.03 | 13.52 | -7.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HCXY | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 2.24 | -1.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.73 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.47 | -0.08 |
Drawdowns
HCXY vs. ^GSPC - Drawdown Comparison
The maximum HCXY drawdown since its inception was -34.76%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for HCXY and ^GSPC.
Loading charts...
Drawdown Indicators
| HCXY | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.76% | -56.78% | +22.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -9.10% | +5.90% |
Max Drawdown (3Y)Largest decline over 3 years | -7.43% | -18.90% | +11.47% |
Max Drawdown (5Y)Largest decline over 5 years | -15.23% | -25.43% | +10.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.00% | -0.74% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -10.72% | +8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 1.97% | -0.73% |
Volatility
HCXY vs. ^GSPC - Volatility Comparison
The current volatility for Hercules Capital, Inc. (HCXY) is 2.05%, while S&P 500 Index (^GSPC) has a volatility of 2.93%. This indicates that HCXY experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HCXY | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 2.93% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 4.99% | 8.99% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.98% | 11.89% | -3.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.31% | 16.90% | -3.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.45% | 18.06% | -0.61% |
Frequently Asked Questions
HCXY and ^GSPC have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^GSPC has higher volatility (2.93%) compared to HCXY (2.05%). In terms of maximum drawdown, HCXY dropped -34.76% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (2.24 vs 0.94), 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.
Find the right allocation for HCXY and ^GSPC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer