SGP.AX vs. 0823.HK

Last updated Jun 4, 2026

SGP.AX (Stockland) and 0823.HK (Link Real Estate Investment Trust) are both stocks. Both are in the Real Estate sector — SGP.AX in REIT - Diversified, 0823.HK in REIT - Retail. Over the past 10 years, SGP.AX returned 3.86%/yr vs 3.00%/yr for 0823.HK. At a 0.12 correlation, their price movements are largely independent.

Performance

SGP.AX vs. 0823.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Stockland (SGP.AX) and Link Real Estate Investment Trust (0823.HK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SGP.AX is traded in AUD, while 0823.HK is traded in HKD. To make them comparable, the 0823.HK values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SGP.AX achieves a -35.08% return, which is significantly lower than 0823.HK's 4.29% return. Over the past 10 years, SGP.AX has outperformed 0823.HK with an annualized return of 3.86%, while 0823.HK has yielded a comparatively lower 3.00% annualized return.

SGP.AX

• 1D: -1.85%
• 1M: -7.46%
• YTD: -35.08%
• 6M: -36.28%
• 1Y: -28.59%
• 3Y*: -0.35%
• 5Y*: 0.77%
• 10Y*: 3.86%

0823.HK

• 1D: -0.19%
• 1M: -1.14%
• YTD: 4.29%
• 6M: 2.07%
• 1Y: -8.63%
• 3Y*: -1.92%
• 5Y*: -5.30%
• 10Y*: 3.00%

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

SGP.AX vs. 0823.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGP.AX Stockland	-35.08%	25.12%	13.92%	29.32%	-8.20%	7.26%	-4.31%	39.46%	-15.68%	3.51%
0823.HK Link Real Estate Investment Trust	4.29%	4.79%	-10.09%	-18.75%	-6.72%	6.61%	-18.31%	8.40%	25.16%	36.55%

Correlation

The correlation between SGP.AX and 0823.HK is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jul 2, 2007	0.12

Return for Risk

SGP.AX vs. 0823.HK — Risk / Return Rank

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

SGP.AX

SGP.AX Risk / Return Rank: 7
SGP.AX Sharpe Ratio Rank: 2
SGP.AX Sortino Ratio Rank: 3
SGP.AX Omega Ratio Rank: 5
SGP.AX Calmar Ratio Rank: 18
SGP.AX Martin Ratio Rank: 9

0823.HK

0823.HK Risk / Return Rank: 38
0823.HK Sharpe Ratio Rank: 41
0823.HK Sortino Ratio Rank: 34
0823.HK Omega Ratio Rank: 34
0823.HK Calmar Ratio Rank: 41
0823.HK Martin Ratio Rank: 40

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.

SGP.AX vs. 0823.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stockland (SGP.AX) and Link Real Estate Investment Trust (0823.HK). 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.

	SGP.AX	0823.HK	Difference
Sharpe ratio Return per unit of total volatility	-1.26	-0.42	-0.83
Sortino ratio Return per unit of downside risk	-1.83	-0.42	-1.40
Omega ratio Gain probability vs. loss probability	0.79	0.94	-0.16
Calmar ratio Return relative to maximum drawdown	-0.65	-0.35	-0.30
Martin ratio Return relative to average drawdown	-1.37	-0.59	-0.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGP.AX vs. 0823.HK - Sharpe Ratio Comparison

The current SGP.AX Sharpe Ratio is -1.26, which is lower than the 0823.HK Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of SGP.AX and 0823.HK, 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

	SGP.AX	0823.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.26	-0.42	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	-0.22	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.13	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.43	-0.13

Drawdowns

SGP.AX vs. 0823.HK - Drawdown Comparison

The maximum SGP.AX drawdown since its inception was -73.75%, which is greater than 0823.HK's maximum drawdown of -59.90%. Use the drawdown chart below to compare losses from any high point for SGP.AX and 0823.HK.

Drawdown Indicators

	SGP.AX	0823.HK	Difference
Max Drawdown Largest peak-to-trough decline	-73.75%	-59.90%	-13.85%
Max Drawdown (1Y) Largest decline over 1 year	-43.86%	-25.24%	-18.62%
Max Drawdown (3Y) Largest decline over 3 years	-43.86%	-31.95%	-11.91%
Max Drawdown (5Y) Largest decline over 5 years	-43.86%	-49.10%	+5.24%
Max Drawdown (10Y) Largest decline over 10 years	-66.88%	-59.90%	-6.98%
Current Drawdown Current decline from peak	-43.86%	-45.40%	+1.54%
Average Drawdown Average peak-to-trough decline	-13.79%	-16.83%	+3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.83%	14.77%	+6.06%

Volatility

SGP.AX vs. 0823.HK - Volatility Comparison

Stockland (SGP.AX) has a higher volatility of 10.72% compared to Link Real Estate Investment Trust (0823.HK) at 6.09%. This indicates that SGP.AX's price experiences larger fluctuations and is considered to be riskier than 0823.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGP.AX	0823.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.72%	6.09%	+4.63%
Volatility (6M) Calculated over the trailing 6-month period	16.83%	14.19%	+2.64%
Volatility (1Y) Calculated over the trailing 1-year period	22.60%	20.96%	+1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.21%	24.41%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.02%	23.22%	+4.80%

Dividends

SGP.AX vs. 0823.HK - Dividend Comparison

SGP.AX's dividend yield for the trailing twelve months is around 7.04%, more than 0823.HK's 6.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
0823.HK Link Real Estate Investment Trust	6.79%	7.61%	8.14%	5.68%	5.11%	4.36%	3.96%	3.32%	3.17%	3.19%	4.22%	4.03%
SGP.AX Stockland	7.04%	4.57%	5.12%	5.03%	7.27%	5.97%	5.24%	5.97%	7.67%	5.78%	5.44%	5.90%

Financials

Frequently Asked Questions

Can I hold both SGP.AX and 0823.HK in my portfolio?

SGP.AX and 0823.HK have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.