QBE.AX vs. OVCHY

Last updated Jun 9, 2026

QBE.AX (QBE Insurance Group Limited) and OVCHY (Overseas Chinese Banking Corp Ltd ADR) are both stocks. Both are in the Financial Services sector — QBE.AX in Insurance - Property & Casualty, OVCHY in Banks - Regional. Over the past 10 years, QBE.AX returned 10.85%/yr vs 17.67%/yr for OVCHY. At a 0.03 correlation, their price movements are largely independent.

Performance

QBE.AX vs. OVCHY - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in QBE Insurance Group Limited (QBE.AX) and Overseas Chinese Banking Corp Ltd ADR (OVCHY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QBE.AX is traded in AUD, while OVCHY is traded in USD. To make them comparable, the OVCHY values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, QBE.AX achieves a 19.29% return, which is significantly higher than OVCHY's 14.59% return. Over the past 10 years, QBE.AX has underperformed OVCHY with an annualized return of 10.85%, while OVCHY has yielded a comparatively higher 17.67% annualized return.

QBE.AX

• 1D: 0.88%
• 1M: 2.56%
• YTD: 19.29%
• 6M: 24.68%
• 1Y: 3.06%
• 3Y*: 20.95%
• 5Y*: 19.54%
• 10Y*: 10.85%

OVCHY

• 1D: -1.34%
• 1M: 7.20%
• YTD: 14.59%
• 6M: 21.82%
• 1Y: 39.65%
• 3Y*: 31.97%
• 5Y*: 22.80%
• 10Y*: 17.67%

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

QBE.AX vs. OVCHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QBE.AX QBE Insurance Group Limited	19.29%	9.85%	35.40%	13.56%	21.37%	34.23%	-31.92%	33.11%	-2.76%	-9.15%
OVCHY Overseas Chinese Banking Corp Ltd ADR	14.59%	24.20%	46.45%	15.62%	19.14%	20.99%	-9.89%	1.62%	1.48%	47.20%

Correlation

The correlation between QBE.AX and OVCHY is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 12, 2010	0.03

Return for Risk

QBE.AX vs. OVCHY — Risk / Return Rank

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

QBE.AX

QBE.AX Risk / Return Rank: 44
QBE.AX Sharpe Ratio Rank: 48
QBE.AX Sortino Ratio Rank: 40
QBE.AX Omega Ratio Rank: 41
QBE.AX Calmar Ratio Rank: 47
QBE.AX Martin Ratio Rank: 47

OVCHY

OVCHY Risk / Return Rank: 93
OVCHY Sharpe Ratio Rank: 93
OVCHY Sortino Ratio Rank: 92
OVCHY Omega Ratio Rank: 91
OVCHY Calmar Ratio Rank: 95
OVCHY Martin Ratio Rank: 94

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.

QBE.AX vs. OVCHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for QBE Insurance Group Limited (QBE.AX) and Overseas Chinese Banking Corp Ltd ADR (OVCHY). 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.

	QBE.AX	OVCHY	Difference
Sharpe ratio: Return per unit of total volatility	0.13	2.03	-1.90
Sortino ratio: Return per unit of downside risk	0.32	2.79	-2.48
Omega ratio: Gain probability vs. loss probability	1.05	1.36	-0.32
Calmar ratio: Return relative to maximum drawdown	0.17	4.79	-4.63
Martin ratio: Return relative to average drawdown	0.32	12.29	-11.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QBE.AX vs. OVCHY - Sharpe Ratio Comparison

The current QBE.AX Sharpe Ratio is 0.13, which is lower than the OVCHY Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of QBE.AX and OVCHY, 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

	QBE.AX	OVCHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.13	2.03	-1.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	1.02	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.75	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.55	-0.41

Drawdowns

QBE.AX vs. OVCHY - Drawdown Comparison

The maximum QBE.AX drawdown since its inception was -62.58%, which is greater than OVCHY's maximum drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for QBE.AX and OVCHY.

Drawdown Indicators

	QBE.AX	OVCHY	Difference
Max Drawdown Largest peak-to-trough decline	-62.58%	-32.66%	-29.92%
Max Drawdown (1Y) Largest decline over 1 year	-18.21%	-8.47%	-9.74%
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	-15.20%	-3.86%
Max Drawdown (5Y) Largest decline over 5 years	-19.95%	-18.29%	-1.66%
Max Drawdown (10Y) Largest decline over 10 years	-50.45%	-32.66%	-17.79%
Current Drawdown Current decline from peak	-4.43%	-3.35%	-1.08%
Average Drawdown Average peak-to-trough decline	-35.16%	-8.74%	-26.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.02%	3.29%	+5.73%

Volatility

QBE.AX vs. OVCHY - Volatility Comparison

QBE Insurance Group Limited (QBE.AX) has a higher volatility of 6.26% compared to Overseas Chinese Banking Corp Ltd ADR (OVCHY) at 4.38%. This indicates that QBE.AX's price experiences larger fluctuations and is considered to be riskier than OVCHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QBE.AX	OVCHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	4.38%	+1.88%
Volatility (6M) Calculated over the trailing 6-month period	14.96%	11.20%	+3.76%
Volatility (1Y) Calculated over the trailing 1-year period	23.64%	20.07%	+3.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.86%	22.57%	+1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.37%	23.58%	+3.79%

Dividends

QBE.AX vs. OVCHY - Dividend Comparison

QBE.AX's dividend yield for the trailing twelve months is around 4.79%, more than OVCHY's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OVCHY Overseas Chinese Banking Corp Ltd ADR	4.21%	4.78%	5.25%	6.07%	4.55%	3.35%	3.79%	3.83%	3.08%	3.93%	8.07%	3.64%
QBE.AX QBE Insurance Group Limited	4.79%	4.75%	3.77%	2.97%	2.08%	0.97%	4.05%	4.11%	2.91%	6.08%	4.47%	3.34%

Financials

Frequently Asked Questions

Can I hold both QBE.AX and OVCHY in my portfolio?

QBE.AX and OVCHY have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.