TME vs. PDD
TME (Tencent Music Entertainment Group) and PDD (Pinduoduo Inc.) are both stocks. TME operates in Internet Content & Information (Communication Services), while PDD operates in Internet Retail (Consumer Cyclical). Over the past 5 years, TME returned -8.96%/yr vs -7.73%/yr for PDD. A 0.50 correlation means they provide meaningful diversification when combined.
Performance
TME vs. PDD - Performance Comparison
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Returns By Period
In the year-to-date period, TME achieves a -45.99% return, which is significantly lower than PDD's -28.07% return.
TME
- 1D
- -0.43%
- 1M
- 8.85%
- YTD
- -45.99%
- 6M
- -48.04%
- 1Y
- -48.60%
- 3Y*
- 6.90%
- 5Y*
- -8.96%
- 10Y*
- —
PDD
- 1D
- 0.32%
- 1M
- -14.89%
- YTD
- -28.07%
- 6M
- -27.15%
- 1Y
- -18.91%
- 3Y*
- 1.73%
- 5Y*
- -7.73%
- 10Y*
- —
TME vs. PDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TME Tencent Music Entertainment Group | -45.99% | 56.39% | 27.12% | 8.82% | 20.88% | -64.40% | 63.88% | -11.20% | -6.24% |
PDD Pinduoduo Inc. | -28.07% | 16.91% | -33.71% | 79.41% | 39.88% | -67.19% | 369.78% | 68.54% | 7.83% |
Correlation
The correlation between TME and PDD is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018 | 0.50 |
The correlation between TME and PDD shifts across timeframes, from 0.40 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
TME:
$14.34B
PDD:
$120.71B
TME:
CN¥5.49
PDD:
CN¥64.39
TME:
11.37
PDD:
8.58
TME:
0.28
PDD:
0.08
TME:
2.99
PDD:
1.86
TME:
1.31
PDD:
1.94
TME:
CN¥32.50B
PDD:
CN¥441.76B
TME:
CN¥18.52B
PDD:
CN¥247.30B
TME:
CN¥13.20B
PDD:
CN¥134.30B
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Return for Risk
TME vs. PDD — Risk / Return Rank
TME
PDD
TME vs. PDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tencent Music Entertainment Group (TME) and Pinduoduo Inc. (PDD). 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.
| TME | PDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.91 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.52 | -0.23 |
| Martin ratioReturn relative to average drawdown | -1.29 | -1.08 | -0.21 |
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Drawdowns
TME vs. PDD - Drawdown Comparison
The maximum TME drawdown since its inception was -90.19%, roughly equal to the maximum PDD drawdown of -87.41%. Use the drawdown chart below to compare losses from any high point for TME and PDD.
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Drawdown Indicators
| TME | PDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.19% | -87.41% | -2.78% |
Max Drawdown (1Y)Largest decline over 1 year | -67.01% | -41.14% | -25.87% |
Max Drawdown (3Y)Largest decline over 3 years | -67.01% | -48.40% | -18.61% |
Max Drawdown (5Y)Largest decline over 5 years | -80.33% | -80.88% | +0.55% |
Current DrawdownCurrent decline from peak | -69.57% | -59.79% | -9.78% |
Average DrawdownAverage peak-to-trough decline | -52.02% | -39.32% | -12.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.44% | 19.55% | +18.89% |
Volatility
TME vs. PDD - Volatility Comparison
The current volatility for Tencent Music Entertainment Group (TME) is 11.92%, while Pinduoduo Inc. (PDD) has a volatility of 14.35%. This indicates that TME experiences smaller price fluctuations and is considered to be less risky than PDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TME | PDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.92% | 14.35% | -2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 40.95% | 25.50% | +15.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.86% | 32.48% | +14.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.02% | 68.09% | -8.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.64% | 69.37% | -12.73% |
Dividends
TME vs. PDD - Dividend Comparison
TME's dividend yield for the trailing twelve months is around 2.60%, while PDD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
PDD Pinduoduo Inc. | 0.00% | 0.00% | 0.00% |
TME Tencent Music Entertainment Group | 2.60% | 1.03% | 1.21% |
Financials
TME vs. PDD - Financials Comparison
This section allows you to compare key financial metrics between Tencent Music Entertainment Group and Pinduoduo Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
TME vs. PDD - Profitability Comparison
TME - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tencent Music Entertainment Group reported a gross profit of 3.52B and revenue of 7.85B. Therefore, the gross margin over that period was 44.9%.
PDD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pinduoduo Inc. reported a gross profit of 58.98B and revenue of 105.59B. Therefore, the gross margin over that period was 55.9%.
TME - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tencent Music Entertainment Group reported an operating income of 2.32B and revenue of 7.85B, resulting in an operating margin of 29.6%.
PDD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pinduoduo Inc. reported an operating income of 21.02B and revenue of 105.59B, resulting in an operating margin of 19.9%.
TME - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tencent Music Entertainment Group reported a net income of 2.08B and revenue of 7.85B, resulting in a net margin of 26.5%.
PDD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pinduoduo Inc. reported a net income of 12.47B and revenue of 105.59B, resulting in a net margin of 11.8%.
Frequently Asked Questions
TME and PDD have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDD has higher volatility (14.35%) compared to TME (11.92%). In terms of maximum drawdown, TME dropped -90.19% vs PDD's -87.41%.
PDD currently has the higher Sharpe Ratio (-0.65 vs -1.06), 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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