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 -0.09%/yr vs 1.77%/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 -0.65% return, which is significantly higher than ^HSI's -2.08% return. Over the past 10 years, HKDUSD=X has underperformed ^HSI with an annualized return of -0.09%, while ^HSI has yielded a comparatively higher 1.77% annualized return.
HKDUSD=X
- 1D
- 0.02%
- 1M
- 0.03%
- YTD
- -0.65%
- 6M
- -0.62%
- 1Y
- 0.16%
- 3Y*
- 0.04%
- 5Y*
- -0.20%
- 10Y*
- -0.09%
^HSI
- 1D
- -1.41%
- 1M
- -2.42%
- YTD
- -2.08%
- 6M
- -3.22%
- 1Y
- 6.95%
- 3Y*
- 9.78%
- 5Y*
- -2.86%
- 10Y*
- 1.77%
HKDUSD=X vs. ^HSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HKDUSD=X HKD/USD | -0.65% | -0.17% | 0.51% | 0.02% | -0.17% | -0.56% | 0.49% | 0.52% | -0.24% | -0.74% |
^HSI Hang Seng Index | -2.13% | 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 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 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.
| HKDUSD=X | ^HSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.08 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 0.54 | -0.40 |
| Martin ratioReturn relative to average drawdown | 0.27 | 1.35 | -1.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HKDUSD=X | ^HSI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.16 | 0.39 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.23 | -0.12 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.12 | 0.08 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | 0.03 | -0.05 |
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 | -0.95% | -13.13% | +12.18% |
Max Drawdown (3Y)Largest decline over 3 years | -1.30% | -25.67% | +24.37% |
Max Drawdown (5Y)Largest decline over 5 years | -1.30% | -50.41% | +49.11% |
Max Drawdown (10Y)Largest decline over 10 years | -1.30% | -55.87% | +54.57% |
Current DrawdownCurrent decline from peak | -1.09% | -23.94% | +22.85% |
Average DrawdownAverage peak-to-trough decline | -0.46% | -28.60% | +28.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 5.21% | -4.65% |
Volatility
HKDUSD=X vs. ^HSI - Volatility Comparison
The current volatility for HKD/USD (HKDUSD=X) is 0.11%, while Hang Seng Index (^HSI) has a volatility of 5.14%. 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 | 0.11% | 5.14% | -5.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.57% | 13.70% | -13.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.82% | 18.52% | -17.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.78% | 25.45% | -24.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.70% | 22.06% | -21.36% |
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 (5.14%) compared to HKDUSD=X (0.11%). In terms of maximum drawdown, HKDUSD=X dropped -1.30% vs ^HSI's -65.19%.
^HSI currently has the higher Sharpe Ratio (0.39 vs 0.16), 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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