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 -0.11%/yr vs 1.46%/yr for ^HSI. Their 0.15 correlation means their historical movements had little consistent relationship.
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 -0.72% return, which is significantly lower than ^HSI's 0.22% return. Over the past 10 years, HKDUSD=X has underperformed ^HSI with an annualized return of -0.11%, while ^HSI has yielded a comparatively higher 1.46% annualized return.
HKDUSD=X
- 1D
- 0.04%
- 1M
- 0.05%
- 6M
- -0.36%
- YTD
- -0.72%
- 1Y
- 0.11%
- 3Y*
- -0.14%
- 5Y*
- -0.16%
- 10Y*
- -0.11%
- ALL TIME*
- -0.03%
^HSI
- 1D
- 0.00%
- 1M
- 10.87%
- 6M
- -3.71%
- YTD
- 0.22%
- 1Y
- 5.72%
- 3Y*
- 9.68%
- 5Y*
- -0.58%
- 10Y*
- 1.46%
- ALL TIME*
- 0.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^HSI Hang Seng Index | $9.08T | $10.06T | $11.00T |
HKDUSD=X HKD/USD | $3.26K | $3.54K | $2.64K |
HKDUSD=X vs. ^HSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HKDUSD=X HKD/USD | -0.72% | -0.17% | 0.51% | 0.02% | -0.17% | -0.56% | 0.49% | 0.52% | -0.24% | -0.74% |
^HSI Hang Seng Index | 0.22% | 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 -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.15 |
The correlation between HKDUSD=X and ^HSI shifts across timeframes, from -0.02 (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 | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.06 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 0.31 | -0.19 |
| Martin ratioReturn relative to average drawdown | 0.18 | 0.78 | -0.60 |
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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% | -23.53% | +22.23% |
Max Drawdown (5Y)Largest decline over 5 years | -1.30% | -45.40% | +44.10% |
Max Drawdown (10Y)Largest decline over 10 years | -1.30% | -55.87% | +54.57% |
Current DrawdownCurrent decline from peak | -1.16% | -22.16% | +21.00% |
Average DrawdownAverage peak-to-trough decline | -0.47% | -28.84% | +28.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 7.48% | -6.78% |
Volatility
HKDUSD=X vs. ^HSI - Volatility Comparison
The current volatility for HKD/USD (HKDUSD=X) is 0.12%, while Hang Seng Index (^HSI) has a volatility of 5.33%. 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 | 0.12% | 5.33% | -5.21% |
Volatility (6M)Calculated over the trailing 6-month period | 0.42% | 14.65% | -14.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.83% | 19.11% | -18.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.77% | 25.32% | -24.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.70% | 22.09% | -21.39% |
Frequently Asked Questions
HKDUSD=X and ^HSI have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^HSI has higher volatility (5.33%) compared to HKDUSD=X (0.12%). In terms of maximum drawdown, HKDUSD=X dropped -1.30% vs ^HSI's -65.19%.
^HSI currently has the higher Sharpe Ratio (0.31 vs 0.14), 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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