HSBC vs. JPM
HSBC (HSBC Holdings plc) and JPM (JPMorgan Chase & Co.) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, HSBC returned 19.27%/yr vs 21.80%/yr for JPM. Their 0.55 correlation means they have sometimes moved together and sometimes differently.
Performance
HSBC vs. JPM - Performance Comparison
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Returns By Period
In the year-to-date period, HSBC achieves a 39.85% return, which is significantly higher than JPM's 10.73% return. Over the past 10 years, HSBC has underperformed JPM with an annualized return of 19.27%, while JPM has yielded a comparatively higher 21.80% annualized return.
HSBC
- 1D
- -0.63%
- 1M
- 9.96%
- 6M
- 25.01%
- YTD
- 39.85%
- 1Y
- 81.91%
- 3Y*
- 46.00%
- 5Y*
- 39.37%
- 10Y*
- 19.27%
- ALL TIME*
- 7.24%
JPM
- 1D
- 0.27%
- 1M
- 5.78%
- 6M
- 16.11%
- YTD
- 10.73%
- 1Y
- 21.02%
- 3Y*
- 33.72%
- 5Y*
- 21.31%
- 10Y*
- 21.80%
- ALL TIME*
- 12.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $138.88M | $132.62M | $146.00M | |
| $2.69B | $3.19B | $3.04B |
HSBC vs. JPM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSBC HSBC Holdings plc | 39.85% | 67.91% | 34.48% | 39.45% | 7.79% | 20.76% | -31.71% | 1.44% | -16.05% | 36.04% |
JPM JPMorgan Chase & Co. | 10.73% | 37.27% | 44.29% | 30.63% | -12.64% | 27.75% | -5.53% | 47.26% | -6.62% | 26.76% |
Correlation
The correlation between HSBC and JPM is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 1999 | 0.55 |
The correlation between HSBC and JPM shifts across timeframes, from 0.44 (3 years) to 0.55 (all time), reflecting how their relationship changes across market environments.
Fundamentals
HSBC:
$365.74B
JPM:
$942.62B
HSBC:
$6.41
JPM:
$23.29
HSBC:
16.61
JPM:
15.10
HSBC:
0.82
JPM:
1.67
HSBC:
2.88
JPM:
3.30
HSBC:
2.11
JPM:
2.78
HSBC:
$128.37B
JPM:
$297.63B
HSBC:
$65.42B
JPM:
$186.33B
HSBC:
$34.27B
JPM:
$90.84B
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Return for Risk
HSBC vs. JPM — Risk / Return Rank
HSBC
JPM
HSBC vs. JPM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Holdings plc (HSBC) and JPMorgan Chase & Co. (JPM). 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.
| HSBC | JPM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.12 | ||
| Sortino ratioReturn per unit of downside risk | +2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.17 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 5.07 | 1.36 | +3.71 |
| Martin ratioReturn relative to average drawdown | 18.15 | 3.24 | +14.91 |
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Drawdowns
HSBC vs. JPM - Drawdown Comparison
The maximum HSBC drawdown since its inception was -74.47%, roughly equal to the maximum JPM drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for HSBC and JPM.
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Drawdown Indicators
| HSBC | JPM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.47% | -76.16% | +1.69% |
Max Drawdown (1Y)Largest decline over 1 year | -16.28% | -15.47% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -21.83% | -24.42% | +2.59% |
Max Drawdown (5Y)Largest decline over 5 years | -31.80% | -38.77% | +6.97% |
Max Drawdown (10Y)Largest decline over 10 years | -62.26% | -43.63% | -18.63% |
Current DrawdownCurrent decline from peak | -0.63% | -1.54% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -23.98% | -17.56% | -6.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.54% | 6.51% | -1.97% |
Volatility
HSBC vs. JPM - Volatility Comparison
HSBC Holdings plc (HSBC) has a higher volatility of 7.09% compared to JPMorgan Chase & Co. (JPM) at 6.60%. This indicates that HSBC's price experiences larger fluctuations and is considered to be riskier than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSBC | JPM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 6.60% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 22.60% | 16.70% | +5.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.99% | 22.50% | +4.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.99% | 24.46% | +1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.42% | 27.33% | -1.91% |
Dividends
HSBC vs. JPM - Dividend Comparison
HSBC's dividend yield for the trailing twelve months is around 3.52%, more than JPM's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSBC HSBC Holdings plc | 3.52% | 4.19% | 8.29% | 6.54% | 4.33% | 3.65% | 4.05% | 6.52% | 6.20% | 4.94% | 6.35% | 6.33% |
JPM JPMorgan Chase & Co. | 1.71% | 1.72% | 1.92% | 2.38% | 2.98% | 2.34% | 2.83% | 2.37% | 2.54% | 1.91% | 2.13% | 2.54% |
Financials
HSBC vs. JPM - Financials Comparison
This section allows you to compare key financial metrics between HSBC Holdings plc and JPMorgan Chase & Co.. 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
HSBC vs. JPM - Profitability Comparison
HSBC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, HSBC Holdings plc reported a gross profit of 16.93B and revenue of 32.92B. Therefore, the gross margin over that period was 51.4%.
JPM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, JPMorgan Chase & Co. reported a gross profit of 54.83B and revenue of 82.46B. Therefore, the gross margin over that period was 66.5%.
HSBC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, HSBC Holdings plc reported an operating income of 9.36B and revenue of 32.92B, resulting in an operating margin of 28.4%.
JPM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, JPMorgan Chase & Co. reported an operating income of 27.52B and revenue of 82.46B, resulting in an operating margin of 33.4%.
HSBC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, HSBC Holdings plc reported a net income of 7.33B and revenue of 32.92B, resulting in a net margin of 22.3%.
JPM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, JPMorgan Chase & Co. reported a net income of 21.16B and revenue of 82.46B, resulting in a net margin of 25.7%.
Frequently Asked Questions
HSBC and JPM have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSBC has higher volatility (7.09%) compared to JPM (6.60%). In terms of maximum drawdown, HSBC dropped -74.47% vs JPM's -76.16%.
HSBC currently has the higher Sharpe Ratio (3.06 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.
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