NG.L vs. HSBA.L
NG.L (National Grid plc) and HSBA.L (HSBC Holdings plc) are both stocks. NG.L operates in Utilities - Regulated Electric (Utilities), while HSBA.L operates in Banks - Diversified (Financial Services). Over the past 10 years, NG.L returned 7.83%/yr vs 18.05%/yr for HSBA.L. At a 0.24 correlation, their price movements are largely independent.
Performance
NG.L vs. HSBA.L - Performance Comparison
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Returns By Period
In the year-to-date period, NG.L achieves a 8.08% return, which is significantly lower than HSBA.L's 20.63% return. Over the past 10 years, NG.L has underperformed HSBA.L with an annualized return of 7.83%, while HSBA.L has yielded a comparatively higher 18.05% annualized return.
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
- 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 vs. HSBA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between NG.L and HSBA.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 NG.L and HSBA.L shifts across timeframes, from 0.06 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
Fundamentals
NG.L:
£59.84B
HSBA.L:
£237.12B
NG.L:
£1.24
HSBA.L:
£1.27
NG.L:
9.72
HSBA.L:
10.80
NG.L:
0.23
HSBA.L:
0.52
NG.L:
1.65
HSBA.L:
1.91
NG.L:
1.52
HSBA.L:
1.36
NG.L:
£36.07B
HSBA.L:
£125.68B
NG.L:
£29.59B
HSBA.L:
£61.95B
NG.L:
£14.89B
HSBA.L:
£31.98B
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Return for Risk
NG.L vs. HSBA.L — Risk / Return Rank
NG.L
HSBA.L
NG.L vs. HSBA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Grid plc (NG.L) and HSBC Holdings plc (HSBA.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.
| NG.L | HSBA.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 | 1.20 | 1.45 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 3.93 | -2.57 |
| Martin ratioReturn relative to average drawdown | 4.16 | 14.65 | -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. | |||
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Sharpe Ratios by Period
| NG.L | HSBA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 2.49 | -1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 1.37 | -0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.73 | -0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.22 | +0.27 |
Drawdowns
NG.L vs. HSBA.L - Drawdown Comparison
The maximum NG.L drawdown since its inception was -37.82%, smaller than the maximum HSBA.L drawdown of -66.05%. Use the drawdown chart below to compare losses from any high point for NG.L and HSBA.L.
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Drawdown Indicators
| NG.L | HSBA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.82% | -66.05% | +28.23% |
Max Drawdown (1Y)Largest decline over 1 year | -15.14% | -15.96% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -20.16% | -21.98% | +1.82% |
Max Drawdown (5Y)Largest decline over 5 years | -29.57% | -21.98% | -7.59% |
Max Drawdown (10Y)Largest decline over 10 years | -30.48% | -59.96% | +29.48% |
Current DrawdownCurrent decline from peak | -11.88% | -2.74% | -9.14% |
Average DrawdownAverage peak-to-trough decline | -9.19% | -18.74% | +9.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.95% | 4.27% | +0.68% |
Volatility
NG.L vs. HSBA.L - Volatility Comparison
National Grid plc (NG.L) has a higher volatility of 10.52% compared to HSBC Holdings plc (HSBA.L) at 5.97%. This indicates that NG.L's price experiences larger fluctuations and is considered to be riskier than HSBA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NG.L | HSBA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.52% | 5.97% | +4.55% |
Volatility (6M)Calculated over the trailing 6-month period | 17.15% | 20.94% | -3.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.83% | 25.25% | -5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.40% | 24.59% | -5.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.41% | 24.77% | -4.36% |
Dividends
NG.L vs. HSBA.L - Dividend Comparison
NG.L's dividend yield for the trailing twelve months is around 4.03%, which matches HSBA.L's 4.06% 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
NG.L vs. HSBA.L - Financials Comparison
This section allows you to compare key financial metrics between National Grid plc and HSBC Holdings 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
NG.L vs. HSBA.L - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
NG.L and HSBA.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.
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