HKDUSD=X vs. ^HSI
HKDUSD=X (HKD/USD) is a currency, while ^HSI (Hang Seng Index) is an index. Over the past 10 years, HKDUSD=X returned -0.10%/yr vs 0.99%/yr for ^HSI. At a 0.15 correlation, their price movements are largely independent.
Performance
HKDUSD=X vs. ^HSI - Performance Comparison
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Different Trading Currencies
HKDUSD=X is traded in USD, while ^HSI is traded in HKD. To make them comparable, the ^HSI values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HKDUSD=X achieves a -0.66% return, which is significantly higher than ^HSI's -6.38% return. Over the past 10 years, HKDUSD=X has underperformed ^HSI with an annualized return of -0.10%, while ^HSI has yielded a comparatively higher 0.99% annualized return.
HKDUSD=X
- 1D
- 0.02%
- 1M
- 0.02%
- 6M
- -0.48%
- YTD
- -0.66%
- 1Y
- 0.17%
- 3Y*
- -0.08%
- 5Y*
- -0.17%
- 10Y*
- -0.10%
^HSI
- 1D
- 0.00%
- 1M
- -2.26%
- 6M
- -9.65%
- YTD
- -6.38%
- 1Y
- 0.27%
- 3Y*
- 7.47%
- 5Y*
- -2.93%
- 10Y*
- 0.99%
HKDUSD=X vs. ^HSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HKDUSD=X HKD/USD | -0.66% | -0.17% | 0.51% | 0.02% | -0.17% | -0.56% | 0.49% | 0.52% | -0.24% | -0.74% |
^HSI Hang Seng Index | -6.38% | 27.55% | 18.27% | -13.81% | -15.60% | -14.56% | -2.93% | 9.64% | -13.82% | 34.99% |
Correlation
The correlation between HKDUSD=X and ^HSI is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2007 | 0.15 |
The correlation between HKDUSD=X and ^HSI shifts across timeframes, from -0.01 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HKDUSD=X vs. ^HSI — Risk / Return Rank
HKDUSD=X
^HSI
HKDUSD=X vs. ^HSI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HKD/USD (HKDUSD=X) and Hang Seng Index (^HSI). 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.
| HKDUSD=X | ^HSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.02 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 0.01 | +0.12 |
| Martin ratioReturn relative to average drawdown | 0.24 | 0.04 | +0.20 |
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Drawdowns
HKDUSD=X vs. ^HSI - Drawdown Comparison
The maximum HKDUSD=X drawdown since its inception was -1.30%, smaller than the maximum ^HSI drawdown of -65.19%. Use the drawdown chart below to compare losses from any high point for HKDUSD=X and ^HSI.
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Drawdown Indicators
| HKDUSD=X | ^HSI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.30% | -65.19% | +63.89% |
Max Drawdown (1Y)Largest decline over 1 year | -1.01% | -19.31% | +18.30% |
Max Drawdown (3Y)Largest decline over 3 years | -1.30% | -25.67% | +24.37% |
Max Drawdown (5Y)Largest decline over 5 years | -1.30% | -48.10% | +46.80% |
Max Drawdown (10Y)Largest decline over 10 years | -1.30% | -55.87% | +54.57% |
Current DrawdownCurrent decline from peak | -1.10% | -27.28% | +26.18% |
Average DrawdownAverage peak-to-trough decline | -0.46% | -28.76% | +28.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 7.03% | -6.38% |
Volatility
HKDUSD=X vs. ^HSI - Volatility Comparison
The current volatility for HKD/USD (HKDUSD=X) is 0.13%, while Hang Seng Index (^HSI) has a volatility of 6.06%. This indicates that HKDUSD=X experiences smaller price fluctuations and is considered to be less risky than ^HSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HKDUSD=X | ^HSI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 6.06% | -5.93% |
Volatility (6M)Calculated over the trailing 6-month period | 0.53% | 14.22% | -13.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.83% | 18.95% | -18.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.78% | 25.49% | -24.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.70% | 22.05% | -21.35% |
Frequently Asked Questions
HKDUSD=X and ^HSI have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^HSI has higher volatility (6.06%) compared to HKDUSD=X (0.13%). In terms of maximum drawdown, HKDUSD=X dropped -1.30% vs ^HSI's -65.19%.
HKDUSD=X currently has the higher Sharpe Ratio (0.17 vs 0.01), 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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