THCH vs. EH

Last updated Jul 14, 2026

THCH (TH International Limited) and EH (Ehang Holdings Ltd) are both stocks. THCH operates in Restaurants (Consumer Cyclical), while EH operates in Aerospace & Defense (Industrials). Over the past 3 years, THCH returned -51.30%/yr vs -33.43%/yr for EH. At a 0.12 correlation, their price movements are largely independent.

Performance

THCH vs. EH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TH International Limited (THCH) and Ehang Holdings Ltd (EH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THCH achieves a -28.11% return, which is significantly higher than EH's -58.95% return.

THCH

• 1D: -0.56%
• 1M: 3.47%
• 6M: -24.79%
• YTD: -28.11%
• 1Y: -40.73%
• 3Y*: -51.30%
• 5Y*: —
• 10Y*: —

EH

• 1D: -3.22%
• 1M: -18.40%
• 6M: -63.91%
• YTD: -58.95%
• 1Y: -69.42%
• 3Y*: -33.43%
• 5Y*: -29.20%
• 10Y*: —

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

THCH vs. EH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
THCH TH International Limited	-28.11%	-29.86%	-59.43%	-37.05%	-52.64%
EH Ehang Holdings Ltd	-58.95%	-16.29%	-6.28%	95.80%	79.12%

Correlation

The correlation between THCH and EH is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Sep 29, 2022	0.12

The correlation between THCH and EH shifts across timeframes, from -0.02 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap THCH : $57.35M EH : $200.76M
EPS THCH : -CN¥14.84 EH : -CN¥8.72
PS Ratio THCH : 0.31 EH : 3.27
Total Revenue (TTM) THCH : CN¥1.27B EH : CN¥417.55M
Gross Profit (TTM) THCH : CN¥137.75M EH : CN¥256.90M
EBITDA (TTM) THCH : -CN¥191.18M EH : -CN¥286.70M

Return for Risk

THCH vs. EH — Risk / Return Rank

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

THCH

THCH Risk / Return Rank: 15
THCH Sharpe Ratio Rank: 18
THCH Sortino Ratio Rank: 20
THCH Omega Ratio Rank: 20
THCH Calmar Ratio Rank: 13
THCH Martin Ratio Rank: 5

EH

EH Risk / Return Rank: 3
EH Sharpe Ratio Rank: 3
EH Sortino Ratio Rank: 2
EH Omega Ratio Rank: 3
EH Calmar Ratio Rank: 4
EH Martin Ratio Rank: 2

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.

THCH vs. EH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TH International Limited (THCH) and Ehang Holdings Ltd (EH). 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.

	THCH	EH	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	-1.16	+0.57
Sortino ratio: Return per unit of downside risk	-0.64	-2.14	+1.50
Omega ratio: Gain probability vs. loss probability	0.92	0.74	+0.18
Calmar ratio: Return relative to maximum drawdown	-0.80	-0.95	+0.15
Martin ratio: Return relative to average drawdown	-1.57	-1.84	+0.27

THCH vs. EH - Sharpe Ratio Comparison

The current THCH Sharpe Ratio is -0.60, which is higher than the EH Sharpe Ratio of -1.16. The chart below compares the historical Sharpe Ratios of THCH and EH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

THCH vs. EH - Drawdown Comparison

The maximum THCH drawdown since its inception was -96.02%, roughly equal to the maximum EH drawdown of -97.07%. Use the drawdown chart below to compare losses from any high point for THCH and EH.

Drawdown Indicators

	THCH	EH	Difference
Max Drawdown Largest peak-to-trough decline	-96.02%	-97.07%	+1.05%
Max Drawdown (1Y) Largest decline over 1 year	-51.01%	-72.94%	+21.93%
Max Drawdown (3Y) Largest decline over 3 years	-90.65%	-79.55%	-11.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-88.09%	—
Current Drawdown Current decline from peak	-95.09%	-95.64%	+0.55%
Average Drawdown Average peak-to-trough decline	-79.46%	-74.89%	-4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.20%	37.73%	-10.53%

Volatility

THCH vs. EH - Volatility Comparison

TH International Limited (THCH) has a higher volatility of 32.78% compared to Ehang Holdings Ltd (EH) at 22.81%. This indicates that THCH's price experiences larger fluctuations and is considered to be riskier than EH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THCH	EH	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.78%	22.81%	+9.97%
Volatility (6M) Calculated over the trailing 6-month period	58.84%	51.74%	+7.10%
Volatility (1Y) Calculated over the trailing 1-year period	68.59%	59.92%	+8.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.69%	84.75%	-6.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.69%	100.31%	-21.62%

Dividends

THCH vs. EH - Dividend Comparison

Neither THCH nor EH has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both THCH and EH in my portfolio?

THCH and EH have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THCH or EH?

THCH has higher volatility (32.78%) compared to EH (22.81%). In terms of maximum drawdown, THCH dropped -96.02% vs EH's -97.07%.

Which has better risk-adjusted returns?

THCH currently has the higher Sharpe Ratio (-0.60 vs -1.16), 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.