HSBC vs. RJF
HSBC (HSBC Holdings plc) and RJF (Raymond James Financial, Inc.) are both stocks. Both are in the Financial Services sector — HSBC in Banks - Diversified, RJF in Capital Markets. Over the past 10 years, HSBC returned 18.39%/yr vs 17.98%/yr for RJF. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
HSBC vs. RJF - Performance Comparison
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Returns By Period
In the year-to-date period, HSBC achieves a 21.78% return, which is significantly higher than RJF's -3.17% return. Both investments have delivered pretty close results over the past 10 years, with HSBC having a 18.39% annualized return and RJF not far behind at 17.98%.
HSBC
- 1D
- 2.15%
- 1M
- 2.82%
- YTD
- 21.78%
- 6M
- 27.76%
- 1Y
- 61.57%
- 3Y*
- 43.81%
- 5Y*
- 32.55%
- 10Y*
- 18.39%
RJF
- 1D
- 2.65%
- 1M
- 0.29%
- YTD
- -3.17%
- 6M
- -5.10%
- 1Y
- 5.28%
- 3Y*
- 18.32%
- 5Y*
- 13.66%
- 10Y*
- 17.98%
HSBC vs. RJF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSBC HSBC Holdings plc | 21.78% | 67.91% | 34.48% | 39.45% | 7.79% | 20.76% | -31.71% | 1.44% | -16.05% | 36.04% |
RJF Raymond James Financial, Inc. | -3.17% | 4.74% | 40.83% | 6.12% | 8.32% | 59.48% | 8.70% | 22.80% | -15.65% | 29.99% |
Correlation
The correlation between HSBC and RJF is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 1999 | 0.51 |
The correlation between HSBC and RJF shifts across timeframes, from 0.32 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.
Fundamentals
HSBC:
$320.51B
RJF:
$30.93B
HSBC:
$6.38
RJF:
$10.55
HSBC:
14.52
RJF:
14.63
HSBC:
0.71
RJF:
1.25
HSBC:
2.52
RJF:
1.92
HSBC:
$128.37B
RJF:
$16.35B
HSBC:
$65.42B
RJF:
$6.99B
HSBC:
$34.27B
RJF:
$1.40B
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Return for Risk
HSBC vs. RJF — Risk / Return Rank
HSBC
RJF
HSBC vs. RJF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Holdings plc (HSBC) and Raymond James Financial, Inc. (RJF). 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 | RJF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +2.55 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.06 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 0.27 | +3.53 |
| Martin ratioReturn relative to average drawdown | 13.41 | 0.57 | +12.84 |
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Drawdowns
HSBC vs. RJF - Drawdown Comparison
The maximum HSBC drawdown since its inception was -74.47%, which is greater than RJF's maximum drawdown of -69.68%. Use the drawdown chart below to compare losses from any high point for HSBC and RJF.
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Drawdown Indicators
| HSBC | RJF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.47% | -69.68% | -4.79% |
Max Drawdown (1Y)Largest decline over 1 year | -16.28% | -19.64% | +3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -21.83% | -28.12% | +6.29% |
Max Drawdown (5Y)Largest decline over 5 years | -31.80% | -32.11% | +0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -62.26% | -45.59% | -16.67% |
Current DrawdownCurrent decline from peak | -2.67% | -11.61% | +8.94% |
Average DrawdownAverage peak-to-trough decline | -24.09% | -14.62% | -9.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 9.34% | -4.73% |
Volatility
HSBC vs. RJF - Volatility Comparison
HSBC Holdings plc (HSBC) has a higher volatility of 10.18% compared to Raymond James Financial, Inc. (RJF) at 7.64%. This indicates that HSBC's price experiences larger fluctuations and is considered to be riskier than RJF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSBC | RJF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.18% | 7.64% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 22.25% | 19.52% | +2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.11% | 24.66% | +2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.95% | 28.04% | -2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.62% | 30.95% | -5.33% |
Dividends
HSBC vs. RJF - Dividend Comparison
HSBC's dividend yield for the trailing twelve months is around 4.05%, more than RJF's 1.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSBC HSBC Holdings plc | 4.05% | 4.19% | 8.29% | 6.54% | 4.33% | 3.65% | 4.05% | 6.52% | 6.20% | 4.94% | 6.35% | 6.33% |
RJF Raymond James Financial, Inc. | 1.35% | 1.25% | 0.87% | 1.53% | 1.67% | 1.04% | 1.16% | 1.93% | 1.48% | 0.74% | 1.18% | 1.28% |
Financials
HSBC vs. RJF - Financials Comparison
This section allows you to compare key financial metrics between HSBC Holdings plc and Raymond James Financial, Inc.. 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. RJF - Profitability Comparison
HSBC - 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 16.93B and revenue of 32.92B. Therefore, the gross margin over that period was 51.4%.
RJF - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Raymond James Financial, Inc. reported a gross profit of -3.74B and revenue of 4.26B. Therefore, the gross margin over that period was -87.6%.
HSBC - 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 9.36B and revenue of 32.92B, resulting in an operating margin of 28.4%.
RJF - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Raymond James Financial, Inc. reported an operating income of -728.00M and revenue of 4.26B, resulting in an operating margin of -17.1%.
HSBC - 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 7.33B and revenue of 32.92B, resulting in a net margin of 22.3%.
RJF - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Raymond James Financial, Inc. reported a net income of 544.00M and revenue of 4.26B, resulting in a net margin of 12.8%.
Frequently Asked Questions
HSBC and RJF have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSBC has higher volatility (10.18%) compared to RJF (7.64%). In terms of maximum drawdown, HSBC dropped -74.47% vs RJF's -69.68%.
HSBC currently has the higher Sharpe Ratio (2.28 vs 0.22), 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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