HSBA.L vs. NG.L
HSBA.L (HSBC Holdings plc) and NG.L (National Grid plc) are both stocks. HSBA.L operates in Banks - Diversified (Financial Services), while NG.L operates in Utilities - Regulated Electric (Utilities). Over the past 10 years, HSBA.L returned 18.05%/yr vs 7.83%/yr for NG.L. At a 0.24 correlation, their price movements are largely independent.
Performance
HSBA.L vs. NG.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HSBA.L achieves a 20.63% return, which is significantly higher than NG.L's 8.08% return. Over the past 10 years, HSBA.L has outperformed NG.L with an annualized return of 18.05%, while NG.L has yielded a comparatively lower 7.83% annualized return.
HSBA.L
- 1D
- 0.76%
- 1M
- 4.48%
- YTD
- 20.63%
- 6M
- 33.00%
- 1Y
- 62.97%
- 3Y*
- 40.74%
- 5Y*
- 33.67%
- 10Y*
- 18.05%
NG.L
- 1D
- -1.23%
- 1M
- -3.43%
- YTD
- 8.08%
- 6M
- 8.65%
- 1Y
- 20.62%
- 3Y*
- 12.91%
- 5Y*
- 12.54%
- 10Y*
- 7.83%
HSBA.L vs. NG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSBA.L HSBC Holdings plc | 20.63% | 57.77% | 36.43% | 32.14% | 19.91% | 22.90% | -35.99% | -2.41% | -11.05% | 23.54% |
NG.L National Grid plc | 8.08% | 25.50% | 3.80% | 11.91% | -2.57% | 27.27% | -4.19% | 30.69% | -9.07% | -3.65% |
Correlation
The correlation between HSBA.L and NG.L 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 | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2006 | 0.24 |
The correlation between HSBA.L and NG.L shifts across timeframes, from 0.06 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
Fundamentals
HSBA.L:
£237.12B
NG.L:
£59.84B
HSBA.L:
£1.27
NG.L:
£1.24
HSBA.L:
10.80
NG.L:
9.72
HSBA.L:
0.52
NG.L:
0.23
HSBA.L:
1.91
NG.L:
1.65
HSBA.L:
1.36
NG.L:
1.52
HSBA.L:
£125.68B
NG.L:
£36.07B
HSBA.L:
£61.95B
NG.L:
£29.59B
HSBA.L:
£31.98B
NG.L:
£14.89B
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
HSBA.L vs. NG.L — Risk / Return Rank
HSBA.L
NG.L
HSBA.L vs. NG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Holdings plc (HSBA.L) and National Grid plc (NG.L). 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.
| HSBA.L | NG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.20 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.93 | 1.36 | +2.57 |
| Martin ratioReturn relative to average drawdown | 14.65 | 4.16 | +10.49 |
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
| HSBA.L | NG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 1.04 | +1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.37 | 0.65 | +0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.38 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.49 | -0.27 |
Drawdowns
HSBA.L vs. NG.L - Drawdown Comparison
The maximum HSBA.L drawdown since its inception was -66.05%, which is greater than NG.L's maximum drawdown of -37.82%. Use the drawdown chart below to compare losses from any high point for HSBA.L and NG.L.
Loading charts...
Drawdown Indicators
| HSBA.L | NG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.05% | -37.82% | -28.23% |
Max Drawdown (1Y)Largest decline over 1 year | -15.96% | -15.14% | -0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -21.98% | -20.16% | -1.82% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | -29.57% | +7.59% |
Max Drawdown (10Y)Largest decline over 10 years | -59.96% | -30.48% | -29.48% |
Current DrawdownCurrent decline from peak | -2.74% | -11.88% | +9.14% |
Average DrawdownAverage peak-to-trough decline | -18.74% | -9.19% | -9.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 4.95% | -0.68% |
Volatility
HSBA.L vs. NG.L - Volatility Comparison
The current volatility for HSBC Holdings plc (HSBA.L) is 5.97%, while National Grid plc (NG.L) has a volatility of 10.52%. This indicates that HSBA.L experiences smaller price fluctuations and is considered to be less risky than NG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HSBA.L | NG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.97% | 10.52% | -4.55% |
Volatility (6M)Calculated over the trailing 6-month period | 20.94% | 17.15% | +3.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.25% | 19.83% | +5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.59% | 19.40% | +5.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.77% | 20.41% | +4.36% |
Dividends
HSBA.L vs. NG.L - Dividend Comparison
HSBA.L's dividend yield for the trailing twelve months is around 4.06%, which matches NG.L's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSBA.L HSBC Holdings plc | 4.06% | 4.28% | 8.28% | 6.80% | 4.11% | 3.54% | 0.00% | 6.79% | 5.83% | 5.18% | 0.00% | 0.00% |
NG.L National Grid plc | 4.03% | 4.14% | 5.79% | 5.39% | 3.85% | 3.47% | 4.89% | 4.91% | 4.53% | 15.43% | 4.97% | 5.01% |
Financials
HSBA.L vs. NG.L - Financials Comparison
This section allows you to compare key financial metrics between HSBC Holdings plc and National Grid plc. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
HSBA.L vs. NG.L - Profitability Comparison
HSBA.L - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, HSBC Holdings plc reported a gross profit of 15.89B and revenue of 31.56B. Therefore, the gross margin over that period was 50.4%.
NG.L - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Grid plc reported a gross profit of 4.15B and revenue of 10.62B. Therefore, the gross margin over that period was 39.0%.
HSBA.L - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, HSBC Holdings plc reported an operating income of 9.18B and revenue of 31.56B, resulting in an operating margin of 29.1%.
NG.L - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Grid plc reported an operating income of 4.15B and revenue of 10.62B, resulting in an operating margin of 39.0%.
HSBA.L - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, HSBC Holdings plc reported a net income of 7.19B and revenue of 31.56B, resulting in a net margin of 22.8%.
NG.L - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Grid plc reported a net income of 2.62B and revenue of 10.62B, resulting in a net margin of 24.7%.
Frequently Asked Questions
HSBA.L and NG.L 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.
Find the right allocation for HSBA.L and NG.L
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