NZDUSD=X vs. ^HSI
NZDUSD=X (New Zealand Dollar/US Dollar FX) is a currency, while ^HSI (Hang Seng Index) is an index. Over the past 10 years, NZDUSD=X returned -1.95%/yr vs 1.07%/yr for ^HSI. At a 0.18 correlation, their price movements are largely independent.
Performance
NZDUSD=X vs. ^HSI - Performance Comparison
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Different Trading Currencies
NZDUSD=X is traded in USD, while ^HSI is traded in HKD. To make them comparable, the ^HSI values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, NZDUSD=X achieves a 1.53% return, which is significantly higher than ^HSI's -5.71% return. Over the past 10 years, NZDUSD=X has underperformed ^HSI with an annualized return of -1.95%, while ^HSI has yielded a comparatively higher 1.07% annualized return.
NZDUSD=X
- 1D
- 0.52%
- 1M
- 0.35%
- 6M
- 1.70%
- YTD
- 1.53%
- 1Y
- -1.71%
- 3Y*
- -2.83%
- 5Y*
- -3.55%
- 10Y*
- -1.95%
^HSI
- 1D
- 0.00%
- 1M
- -2.06%
- 6M
- -10.31%
- YTD
- -5.71%
- 1Y
- -0.86%
- 3Y*
- 7.72%
- 5Y*
- -2.94%
- 10Y*
- 1.07%
NZDUSD=X vs. ^HSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NZDUSD=X New Zealand Dollar/US Dollar FX | 1.53% | 2.87% | -11.45% | -0.44% | -7.32% | -4.75% | 6.74% | 0.43% | -5.48% | 2.51% |
^HSI Hang Seng Index | -5.71% | 27.55% | 18.27% | -13.81% | -15.60% | -14.56% | -2.93% | 9.64% | -13.82% | 34.99% |
Correlation
The correlation between NZDUSD=X and ^HSI is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Aug 20, 2007 | 0.18 |
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Return for Risk
NZDUSD=X vs. ^HSI — Risk / Return Rank
NZDUSD=X
^HSI
NZDUSD=X vs. ^HSI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for New Zealand Dollar/US Dollar FX (NZDUSD=X) and Hang Seng Index (^HSI). 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.
| NZDUSD=X | ^HSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.01 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | -0.05 | -0.13 |
| Martin ratioReturn relative to average drawdown | -0.34 | -0.12 | -0.21 |
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Drawdowns
NZDUSD=X vs. ^HSI - Drawdown Comparison
The maximum NZDUSD=X drawdown since its inception was -39.83%, smaller than the maximum ^HSI drawdown of -65.19%. Use the drawdown chart below to compare losses from any high point for NZDUSD=X and ^HSI.
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Drawdown Indicators
| NZDUSD=X | ^HSI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.83% | -65.19% | +25.36% |
Max Drawdown (1Y)Largest decline over 1 year | -7.67% | -19.31% | +11.64% |
Max Drawdown (3Y)Largest decline over 3 years | -12.88% | -25.67% | +12.79% |
Max Drawdown (5Y)Largest decline over 5 years | -23.19% | -48.10% | +24.91% |
Max Drawdown (10Y)Largest decline over 10 years | -26.48% | -55.87% | +29.39% |
Current DrawdownCurrent decline from peak | -33.77% | -26.76% | -7.01% |
Average DrawdownAverage peak-to-trough decline | -19.75% | -28.77% | +9.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 7.13% | -3.85% |
Volatility
NZDUSD=X vs. ^HSI - Volatility Comparison
The current volatility for New Zealand Dollar/US Dollar FX (NZDUSD=X) is 2.08%, while Hang Seng Index (^HSI) has a volatility of 5.71%. This indicates that NZDUSD=X experiences smaller price fluctuations and is considered to be less risky than ^HSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZDUSD=X | ^HSI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.08% | 5.71% | -3.63% |
Volatility (6M)Calculated over the trailing 6-month period | 6.69% | 14.16% | -7.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.15% | 18.92% | -10.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.96% | 25.49% | -15.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.63% | 22.04% | -12.41% |
Frequently Asked Questions
NZDUSD=X and ^HSI have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^HSI has higher volatility (5.71%) compared to NZDUSD=X (2.08%). In terms of maximum drawdown, NZDUSD=X dropped -39.83% vs ^HSI's -65.19%.
^HSI currently has the higher Sharpe Ratio (-0.05 vs -0.17), 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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