NTES vs. SE

Last updated Jun 3, 2026

NTES (NetEase, Inc.) and SE (Sea Limited) are both stocks. Both are in the Communication Services sector — NTES in Internet Content & Information, SE in Electronic Gaming & Multimedia. Over the past 5 years, NTES returned 3.98%/yr vs -17.89%/yr for SE. At a 0.36 correlation, their price movements are largely independent.

Performance

NTES vs. SE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NetEase, Inc. (NTES) and Sea Limited (SE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NTES achieves a -8.45% return, which is significantly higher than SE's -26.99% return.

NTES

• 1D: 1.20%
• 1M: 5.74%
• YTD: -8.45%
• 6M: -11.10%
• 1Y: 3.12%
• 3Y*: 15.84%
• 5Y*: 3.98%
• 10Y*: 15.52%

SE

• 1D: -2.22%
• 1M: 8.05%
• YTD: -26.99%
• 6M: -32.42%
• 1Y: -43.59%
• 3Y*: 16.18%
• 5Y*: -17.89%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NTES vs. SE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NTES NetEase, Inc.	-8.45%	58.28%	-1.73%	30.59%	-27.35%	7.11%	57.88%	34.66%	-31.31%	25.02%
SE Sea Limited	-26.99%	20.24%	161.98%	-22.16%	-76.74%	12.39%	394.90%	255.30%	-15.08%	-18.02%

Correlation

The correlation between NTES and SE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Oct 23, 2017	0.36

The correlation between NTES and SE shifts across timeframes, from 0.23 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NTES : $80.52B SE : $59.25B
EPS NTES : $52.95 SE : $2.57
PE Ratio NTES : 2.36 SE : 36.18
PEG Ratio NTES : 0.11 SE : 0.17
PS Ratio NTES : 0.70 SE : 2.31
PB Ratio NTES : 0.49 SE : 4.61
Total Revenue (TTM) NTES : $114.39B SE : $25.19B
Gross Profit (TTM) NTES : $75.14B SE : $11.15B
EBITDA (TTM) NTES : $40.24B SE : $2.33B

Return for Risk

NTES vs. SE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NTES

NTES Risk / Return Rank: 41
NTES Sharpe Ratio Rank: 44
NTES Sortino Ratio Rank: 38
NTES Omega Ratio Rank: 37
NTES Calmar Ratio Rank: 43
NTES Martin Ratio Rank: 44

SE

SE Risk / Return Rank: 10
SE Sharpe Ratio Rank: 7
SE Sortino Ratio Rank: 7
SE Omega Ratio Rank: 8
SE Calmar Ratio Rank: 15
SE Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NTES vs. SE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NetEase, Inc. (NTES) and Sea Limited (SE). 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.

	NTES	SE	Difference
Sharpe ratio Return per unit of total volatility	0.11	-0.87	+0.98
Sortino ratio Return per unit of downside risk	0.37	-1.26	+1.63
Omega ratio Gain probability vs. loss probability	1.04	0.85	+0.20
Calmar ratio Return relative to maximum drawdown	0.14	-0.70	+0.84
Martin ratio Return relative to average drawdown	0.26	-1.19	+1.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NTES vs. SE - Sharpe Ratio Comparison

The current NTES Sharpe Ratio is 0.11, which is higher than the SE Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of NTES and SE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NTES	SE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.11	-0.87	+0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	-0.28	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.36	+0.07

Drawdowns

NTES vs. SE - Drawdown Comparison

The maximum NTES drawdown since its inception was -96.41%, which is greater than SE's maximum drawdown of -90.51%. Use the drawdown chart below to compare losses from any high point for NTES and SE.

Drawdown Indicators

	NTES	SE	Difference
Max Drawdown Largest peak-to-trough decline	-96.41%	-90.51%	-5.90%
Max Drawdown (1Y) Largest decline over 1 year	-30.46%	-60.22%	+29.76%
Max Drawdown (3Y) Largest decline over 3 years	-33.97%	-60.22%	+26.25%
Max Drawdown (5Y) Largest decline over 5 years	-51.38%	-90.51%	+39.13%
Max Drawdown (10Y) Largest decline over 10 years	-57.34%	—	—
Current Drawdown Current decline from peak	-20.60%	-74.62%	+54.02%
Average Drawdown Average peak-to-trough decline	-24.59%	-44.00%	+19.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.74%	35.30%	-18.56%

Volatility

NTES vs. SE - Volatility Comparison

The current volatility for NetEase, Inc. (NTES) is 9.25%, while Sea Limited (SE) has a volatility of 18.33%. This indicates that NTES experiences smaller price fluctuations and is considered to be less risky than SE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NTES	SE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.25%	18.33%	-9.08%
Volatility (6M) Calculated over the trailing 6-month period	21.11%	37.31%	-16.20%
Volatility (1Y) Calculated over the trailing 1-year period	29.18%	50.23%	-21.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.67%	64.06%	-20.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.83%	62.63%	-20.80%

Dividends

NTES vs. SE - Dividend Comparison

NTES's dividend yield for the trailing twelve months is around 1.84%, while SE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NTES NetEase, Inc.	1.84%	2.21%	2.74%	1.88%	2.10%	0.80%	0.97%	3.19%	0.71%	1.05%	1.36%	0.98%
SE Sea Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

NTES vs. SE - Profitability Comparison

The chart below illustrates the profitability comparison between NetEase, Inc. and Sea Limited over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NTES - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, NetEase, Inc. reported a gross profit of 21.22B and revenue of 30.59B. Therefore, the gross margin over that period was 69.4%.

SE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Sea Limited reported a gross profit of 3.15B and revenue of 7.10B. Therefore, the gross margin over that period was 44.3%.

NTES - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, NetEase, Inc. reported an operating income of 12.66B and revenue of 30.59B, resulting in an operating margin of 41.4%.

SE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Sea Limited reported an operating income of 565.39M and revenue of 7.10B, resulting in an operating margin of 8.0%.

NTES - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, NetEase, Inc. reported a net income of 10.67B and revenue of 30.59B, resulting in a net margin of 34.9%.

SE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Sea Limited reported a net income of 427.94M and revenue of 7.10B, resulting in a net margin of 6.0%.

Frequently Asked Questions

Can I hold both NTES and SE in my portfolio?

NTES and SE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NTES or SE?

SE has higher volatility (18.33%) compared to NTES (9.25%). In terms of maximum drawdown, NTES dropped -96.41% vs SE's -90.51%.

Which has better risk-adjusted returns?

NTES currently has the higher Sharpe Ratio (0.11 vs -0.87), 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.