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Performance
NZDUSD=X Performance Chart
New Zealand Dollar/US Dollar FX (NZDUSD=X) is up 0.4% since the beginning of the year. NZDUSD=X is currently trading at $1 per share. Investors who bought $1,000 worth of NZDUSD=X shares 5 years ago would now be looking at an investment worth $822.
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Returns By Period
New Zealand Dollar/US Dollar FX (NZDUSD=X) has returned 0.42% so far this year and -3.46% over the past 12 months. Over the last ten years, NZDUSD=X has returned -2.06% per year, falling short of the S&P 500 Index benchmark, which averaged 13.27% annually.
New Zealand Dollar/US Dollar FX
- 1D
- 0.37%
- 1M
- -0.80%
- 6M
- 0.11%
- YTD
- 0.42%
- 1Y
- -3.46%
- 3Y*
- -3.19%
- 5Y*
- -3.84%
- 10Y*
- -2.06%
Benchmark (S&P 500 Index)
- 1D
- -0.79%
- 1M
- 1.13%
- 6M
- 7.71%
- YTD
- 9.79%
- 1Y
- 20.06%
- 3Y*
- 18.60%
- 5Y*
- 11.43%
- 10Y*
- 13.27%
NZDUSD=X Monthly Returns History
Based on dividend-adjusted daily data since Aug 16, 2007, NZDUSD=X's average daily return is 0.00%, while the average monthly return is -0.02%.
Historically, 50% of months were positive and 50% were negative. The best month was May 2009 with a return of +13.4%, while the worst month was Jan 2009 at -13.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 6 months.
On a daily basis, NZDUSD=X closed higher 51% of trading days. The best single day was Dec 16, 2008 with a return of +4.4%, while the worst single day was Oct 24, 2008 at -6.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.57% | -0.45% | -4.10% | 2.83% | 1.02% | -4.89% | 1.80% | 0.42% | |||||
| 2025 | 0.63% | -0.63% | 1.51% | 4.51% | 0.42% | 2.29% | -3.39% | 0.30% | -1.91% | -1.22% | 0.23% | 0.32% | 2.87% |
| 2024 | -3.18% | -0.48% | -1.80% | -1.51% | 4.31% | -0.85% | -2.28% | 4.98% | 1.61% | -5.86% | -0.97% | -5.48% | -11.45% |
| 2023 | 1.46% | -3.95% | 1.11% | -1.18% | -2.60% | 1.95% | 1.19% | -3.90% | 0.50% | -2.85% | 5.63% | 2.67% | -0.44% |
| 2022 | -3.96% | 2.93% | 2.42% | -6.87% | 0.88% | -4.20% | 0.83% | -2.73% | -8.55% | 3.89% | 8.29% | 0.80% | -7.32% |
| 2021 | -0.14% | 0.72% | -3.39% | 2.46% | 1.59% | -3.98% | -0.15% | 1.02% | -2.05% | 3.92% | -4.81% | 0.36% | -4.75% |
Benchmark Metrics
New Zealand Dollar/US Dollar FX has an annualized alpha of -3.87%, beta of 0.30, and R2 of 0.23 versus S&P 500 Index. Calculated based on daily prices since August 16, 2007.
- This currency participated in 66.79% of S&P 500 Index downside but only 30.28% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.30 may look defensive, but with R2 of 0.23 this currency is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this currency's risk.
- R2 of 0.23 means this currency moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -3.87%
- Beta
- 0.30
- R²
- 0.23
- Upside Capture
- 30.28%
- Downside Capture
- 66.79%
Return for Risk
Risk / Return Rank
NZDUSD=X ranks 32 for risk / return — below 32% of currencies on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for New Zealand Dollar/US Dollar FX (NZDUSD=X) and compare them to S&P 500 Index.
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.
| NZDUSD=X | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -2.65 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.29 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | 2.21 | -2.58 |
| Martin ratioReturn relative to average drawdown | -0.68 | 9.61 | -10.29 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the New Zealand Dollar/US Dollar FX. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the New Zealand Dollar/US Dollar FX was 39.83%, occurring on Mar 2, 2009. Recovery took 586 trading sessions.
The current New Zealand Dollar/US Dollar FX drawdown is 34.50%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -39.83%Mar 2009 | 11mo 23d | 2y 3mo | 3y 2moMar 2008 - May 2011 |
2025 selloff2025 | -37.32%Apr 2025 | 10y 9mo | — | 12y 7dJul 2014 - now |
2011 correction2011 | -15.93%Nov 2011 | 3mo 26d | 2y 7mo | 2y 11moAug 2011 - Jul 2014 |
Financial crisis2007–2009 | -5.70%Jan 2008 | 6d | 11d | 17dJan 2008 - Feb 2008 |
Financial crisis2007–2009 | -4.66%Nov 2007 | 5d | 28d | 1mo 3dNov 2007 - Dec 2007 |
Drawdown Indicators
| NZDUSD=X | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.83% | -56.78% | +16.95% |
Max Drawdown (1Y)Largest decline over 1 year | -7.67% | -9.10% | +1.43% |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | -18.90% | +5.73% |
Max Drawdown (5Y)Largest decline over 5 years | -23.19% | -25.43% | +2.24% |
Max Drawdown (10Y)Largest decline over 10 years | -26.48% | -33.92% | +7.44% |
Current DrawdownCurrent decline from peak | -34.50% | -1.24% | -33.26% |
Average DrawdownAverage peak-to-trough decline | -19.73% | -10.71% | -9.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 2.09% | +1.23% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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