SLG vs. HDGE
SLG (SL Green Realty Corp.) is a stock, while HDGE (AdvisorShares Ranger Equity Bear ETF) is Inverse Equities fund actively managed by AdvisorShares. Over the past 10 years, SLG returned -2.18%/yr vs -15.15%/yr for HDGE. At a correlation of -0.55, they often move in opposite directions.
Performance
SLG vs. HDGE - Performance Comparison
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Returns By Period
In the year-to-date period, SLG achieves a 9.96% return, which is significantly higher than HDGE's 6.62% return. Over the past 10 years, SLG has outperformed HDGE with an annualized return of -2.18%, while HDGE has yielded a comparatively lower -15.15% annualized return.
SLG
- 1D
- -1.96%
- 1M
- 14.56%
- YTD
- 9.96%
- 6M
- 11.91%
- 1Y
- -19.37%
- 3Y*
- 35.73%
- 5Y*
- -3.69%
- 10Y*
- -2.18%
HDGE
- 1D
- 0.83%
- 1M
- 0.59%
- YTD
- 6.62%
- 6M
- 8.10%
- 1Y
- 1.33%
- 3Y*
- -3.91%
- 5Y*
- -2.09%
- 10Y*
- -15.15%
SLG vs. HDGE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLG SL Green Realty Corp. | 9.96% | -29.03% | 58.26% | 48.75% | -50.94% | 22.86% | -29.14% | 20.96% | -18.80% | -3.25% |
HDGE AdvisorShares Ranger Equity Bear ETF | 6.62% | 1.50% | -8.01% | -26.98% | 16.59% | -18.61% | -43.47% | -36.27% | 7.53% | -15.24% |
Correlation
The correlation between SLG and HDGE is -0.51, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.56 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2011 | -0.55 |
The correlation between SLG and HDGE has been stable across timeframes, ranging from -0.60 to -0.51 - a consistent structural relationship.
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Return for Risk
SLG vs. HDGE — Risk / Return Rank
SLG
HDGE
SLG vs. HDGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SL Green Realty Corp. (SLG) and AdvisorShares Ranger Equity Bear ETF (HDGE). 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.
| SLG | HDGE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.03 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 0.11 | -0.54 |
| Martin ratioReturn relative to average drawdown | -0.72 | 0.22 | -0.95 |
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Drawdowns
SLG vs. HDGE - Drawdown Comparison
The maximum SLG drawdown since its inception was -94.02%, roughly equal to the maximum HDGE drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for SLG and HDGE.
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Drawdown Indicators
| SLG | HDGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.02% | -93.88% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -12.26% | -33.14% |
Max Drawdown (3Y)Largest decline over 3 years | -53.91% | -29.46% | -24.45% |
Max Drawdown (5Y)Largest decline over 5 years | -74.27% | -42.97% | -31.30% |
Max Drawdown (10Y)Largest decline over 10 years | -77.70% | -83.69% | +5.99% |
Current DrawdownCurrent decline from peak | -37.04% | -93.00% | +55.96% |
Average DrawdownAverage peak-to-trough decline | -27.45% | -70.17% | +42.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.89% | 6.20% | +20.69% |
Volatility
SLG vs. HDGE - Volatility Comparison
SL Green Realty Corp. (SLG) has a higher volatility of 10.65% compared to AdvisorShares Ranger Equity Bear ETF (HDGE) at 5.83%. This indicates that SLG's price experiences larger fluctuations and is considered to be riskier than HDGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLG | HDGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.65% | 5.83% | +4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 28.26% | 12.97% | +15.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.00% | 18.36% | +19.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.65% | 24.20% | +19.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.34% | 23.56% | +18.78% |
Dividends
SLG vs. HDGE - Dividend Comparison
SLG's dividend yield for the trailing twelve months is around 4.36%, more than HDGE's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | 3.28% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% |
SLG SL Green Realty Corp. | 4.36% | 6.18% | 4.43% | 7.15% | 10.94% | 5.09% | 7.81% | 3.74% | 4.16% | 3.11% | 2.73% | 2.23% |
Frequently Asked Questions
SLG and HDGE have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLG has higher volatility (10.65%) compared to HDGE (5.83%). In terms of maximum drawdown, SLG dropped -94.02% vs HDGE's -93.88%.
HDGE currently has the higher Sharpe Ratio (0.07 vs -0.51), 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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