TME·Tencent Music Entertainment Group American Depositary Shares each representing two Class A

Realized volatility (21d)

33.3% 13th pct

Below its peak

-75.3%

vs 200-day average

-29.6%

Up days (1y)

41%

Tencent Music Entertainment Group American Depositary Shares each representing two Class A is currently running 33.3% annualised volatility over the last 21 sessions. Measured against TME's own 8 years of daily returns rather than a market-wide average, that is the 13th percentile — unusually subdued by its own history, against a typical reading of 46.7%. The distinction matters because a number that looks calm for one stock is turbulent for another, and the absolute figure on its own tells you neither.

TME is trading -75.3% below its running peak. Across 7 full years on file, its median worst-drawdown-in-a-year was -38.7%, and the deepest was -81.2% in 2021. The current drawdown is already deeper than this stock's typical annual low point, which puts it in the part of its range where past recoveries began — and where past declines also continued.

Price sits -29.6% from its 200-day moving average. Against every other day in its history, that gap ranks at the 21st percentile — a narrower gap than it typically runs. Over the past year TME closed higher on 41% of sessions, and it is currently 1 session into a rising streak.

On October specifically: over 7 years of records, TME finished the month higher 3 of 7 times, with a median return of -1.4% and an average of +0.4%. Its strongest month historically has been November at +10.8% on average, its weakest March at -7.3%. Seasonality is a weak signal on its own — a decade is a small sample and regimes change — but it is a real distribution rather than a rule of thumb.

Overnight risk is measurable too: TME has opened more than 2% away from the prior close in 235 of 1,962 sessions (12.0% of the time), with the largest gaps running +11.7% and -7.0%. For anyone holding through an event, that rate is a better guide to overnight exposure than the intraday range.

All figures computed from 1,963 daily closes between 2018-12-12 and 2026-10-05, split-adjusted, recomputed daily. Percentiles are against TME's own 8-year history, not a peer group or index.