ZGN vs. 0700.HK

Last updated Jun 6, 2026

ZGN (Ermenegildo Zegna N.V.) and 0700.HK (Tencent Holdings Ltd) are both stocks. ZGN operates in Apparel Manufacturing (Consumer Cyclical), while 0700.HK operates in Internet Content & Information (Communication Services). Over the past 3 years, ZGN returned 8.60%/yr vs 11.81%/yr for 0700.HK. At a 0.10 correlation, their price movements are largely independent.

Performance

ZGN vs. 0700.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ermenegildo Zegna N.V. (ZGN) and Tencent Holdings Ltd (0700.HK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZGN is traded in USD, while 0700.HK is traded in HKD. To make them comparable, the 0700.HK values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZGN achieves a 42.93% return, which is significantly higher than 0700.HK's -23.00% return.

ZGN

• 1D: -1.81%
• 1M: 13.21%
• YTD: 42.93%
• 6M: 37.69%
• 1Y: 74.23%
• 3Y*: 8.60%
• 5Y*: —
• 10Y*: —

0700.HK

• 1D: -1.57%
• 1M: 0.31%
• YTD: -23.00%
• 6M: -24.36%
• 1Y: -9.70%
• 3Y*: 11.81%
• 5Y*: -3.36%
• 10Y*: 11.64%

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

ZGN vs. 0700.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ZGN Ermenegildo Zegna N.V.	42.93%	26.03%	-27.86%	11.48%	0.72%	-2.42%
0700.HK Tencent Holdings Ltd	-23.00%	44.65%	43.98%	-6.77%	-24.15%	6.30%

Correlation

The correlation between ZGN and 0700.HK is -0.01, 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	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (All Time) Calculated using the full available price history since Dec 21, 2021	0.10

The correlation between ZGN and 0700.HK shifts across timeframes, from -0.01 (1 year) to 0.11 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ZGN vs. 0700.HK — Risk / Return Rank

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

ZGN

ZGN Risk / Return Rank: 83
ZGN Sharpe Ratio Rank: 85
ZGN Sortino Ratio Rank: 81
ZGN Omega Ratio Rank: 80
ZGN Calmar Ratio Rank: 85
ZGN Martin Ratio Rank: 86

0700.HK

0700.HK Risk / Return Rank: 28
0700.HK Sharpe Ratio Rank: 28
0700.HK Sortino Ratio Rank: 24
0700.HK Omega Ratio Rank: 25
0700.HK Calmar Ratio Rank: 33
0700.HK Martin Ratio Rank: 31

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.

ZGN vs. 0700.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ermenegildo Zegna N.V. (ZGN) and Tencent Holdings Ltd (0700.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.

	ZGN	0700.HK	Difference
Sharpe ratio: Return per unit of total volatility	1.75	-0.32	+2.07
Sortino ratio: Return per unit of downside risk	2.34	-0.30	+2.64
Omega ratio: Gain probability vs. loss probability	1.30	0.97	+0.33
Calmar ratio: Return relative to maximum drawdown	3.41	-0.25	+3.67
Martin ratio: Return relative to average drawdown	9.08	-0.58	+9.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZGN vs. 0700.HK - Sharpe Ratio Comparison

The current ZGN Sharpe Ratio is 1.75, which is higher than the 0700.HK Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of ZGN and 0700.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

	ZGN	0700.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	-0.32	+2.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.09	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.70	-0.49

Drawdowns

ZGN vs. 0700.HK - Drawdown Comparison

The maximum ZGN drawdown since its inception was -61.02%, smaller than the maximum 0700.HK drawdown of -73.04%. Use the drawdown chart below to compare losses from any high point for ZGN and 0700.HK.

Drawdown Indicators

	ZGN	0700.HK	Difference
Max Drawdown Largest peak-to-trough decline	-61.02%	-73.04%	+12.02%
Max Drawdown (1Y) Largest decline over 1 year	-21.87%	-36.95%	+15.08%
Max Drawdown (3Y) Largest decline over 3 years	-61.02%	-36.95%	-24.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-65.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-73.04%	—
Current Drawdown Current decline from peak	-6.15%	-32.62%	+26.47%
Average Drawdown Average peak-to-trough decline	-25.51%	-19.67%	-5.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.20%	16.05%	-7.85%

Volatility

ZGN vs. 0700.HK - Volatility Comparison

The current volatility for Ermenegildo Zegna N.V. (ZGN) is 11.79%, while Tencent Holdings Ltd (0700.HK) has a volatility of 13.22%. This indicates that ZGN experiences smaller price fluctuations and is considered to be less risky than 0700.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZGN	0700.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.79%	13.22%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	33.12%	23.39%	+9.73%
Volatility (1Y) Calculated over the trailing 1-year period	42.55%	29.40%	+13.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.92%	39.34%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.92%	35.61%	+5.31%

Dividends

ZGN vs. 0700.HK - Dividend Comparison

ZGN's dividend yield for the trailing twelve months is around 0.96%, less than 0700.HK's 1.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
0700.HK Tencent Holdings Ltd	1.15%	0.75%	0.82%	0.82%	0.98%	0.35%	0.21%	0.27%	0.29%	0.15%	0.25%	0.24%
ZGN Ermenegildo Zegna N.V.	0.96%	1.38%	1.45%	0.94%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both ZGN and 0700.HK in my portfolio?

ZGN and 0700.HK have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.