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Performance
ZAR=X Performance Chart
USD/ZAR (ZAR=X) is down 1.4% since the beginning of the year. ZAR=X is currently trading at ZAR 16 per share. Investors who bought ZAR 1,000 worth of ZAR=X shares 5 years ago would now be looking at an investment worth ZAR 1,140.
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Returns By Period
USD/ZAR (ZAR=X) has returned -1.36% so far this year and -9.31% over the past 12 months. Over the last ten years, ZAR=X has returned 0.78% per year, falling short of the S&P 500 Index benchmark, which averaged 14.49% annually.
USD/ZAR
- 1D
- 0.88%
- 1M
- -1.45%
- YTD
- -1.36%
- 6M
- -2.40%
- 1Y
- -9.31%
- 3Y*
- -3.48%
- 5Y*
- 2.66%
- 10Y*
- 0.78%
Benchmark (S&P 500 Index)
- 1D
- -0.35%
- 1M
- -1.23%
- YTD
- 6.91%
- 6M
- 7.74%
- 1Y
- 12.48%
- 3Y*
- 14.81%
- 5Y*
- 15.22%
- 10Y*
- 14.49%
ZAR=X Monthly Returns History
Based on dividend-adjusted daily data since Jul 30, 2007, ZAR=X's average daily return is +0.02%, while the average monthly return is +0.46%. At this rate, an investment would double in approximately 12.6 years.
Historically, 51% of months were positive and 49% were negative. The best month was Oct 2008 with a return of +17.7%, while the worst month was Apr 2009 at -11.0%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 8 months.
On a daily basis, ZAR=X closed higher 49% of trading days. The best single day was Oct 15, 2008 with a return of +10.0%, while the worst single day was Oct 28, 2008 at -6.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -2.76% | -1.08% | 6.20% | -1.44% | -2.69% | 0.68% | -1.36% | ||||||
| 2025 | -1.29% | 0.07% | -1.94% | 1.57% | -3.22% | -1.69% | 3.00% | -3.11% | -2.23% | 0.43% | -1.21% | -3.25% | -12.34% |
| 2024 | 2.15% | 2.72% | -1.75% | -0.42% | -0.16% | -3.46% | 0.41% | -2.04% | -3.12% | 1.90% | 2.70% | 4.68% | 3.29% |
| 2023 | 2.51% | 5.50% | -3.19% | 2.81% | 7.96% | -4.63% | -5.38% | 6.01% | 0.26% | -1.44% | 1.11% | -3.00% | 7.72% |
| 2022 | -3.57% | -0.02% | -4.91% | 8.22% | -1.29% | 4.22% | 1.94% | 3.21% | 5.62% | 1.47% | -6.09% | -1.45% | 6.53% |
| 2021 | 2.99% | -0.17% | -2.25% | -1.97% | -5.08% | 3.86% | 2.24% | -0.50% | 3.71% | 1.10% | 4.33% | 0.37% | 8.47% |
Benchmark Metrics
USD/ZAR has an annualized alpha of 0.53%, beta of 0.31, and R2 of 0.13 versus S&P 500 Index. Calculated based on daily prices since July 30, 2007.
- This currency participated in 49.49% of S&P 500 Index downside but only 32.46% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.31 may look defensive, but with R2 of 0.13 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 0.13 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
- 0.53%
- Beta
- 0.31
- R²
- 0.13
- Upside Capture
- 32.46%
- Downside Capture
- 49.49%
Return for Risk
Risk / Return Rank
ZAR=X ranks 19 for risk / return — in the bottom 19% of currencies on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for USD/ZAR (ZAR=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.
| ZAR=X | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -2.55 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.22 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 1.52 | -2.07 |
| Martin ratioReturn relative to average drawdown | -0.99 | 3.51 | -4.50 |
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 USD/ZAR. 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 USD/ZAR was 43.37%, occurring on Apr 29, 2011. Recovery took 944 trading sessions.
The current USD/ZAR drawdown is 17.49%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2011 bear market2011 | -43.37%Apr 2011 | 2y 6mo | 3y 7mo | 6y 1moOct 2008 - Dec 2014 |
2018 bear market2018 | -31.48%Feb 2018 | 2y 1mo | 2y 24d | 4y 2moJan 2016 - Mar 2020 |
2021 bear market2021 | -29.70%Jun 2021 | 1y 1mo | 1y 11mo | 3y 17dApr 2020 - May 2023 |
2026 bear market2026 | -20.53%Jan 2026 | 2y 8mo | — | 3y 24dMay 2023 - now |
Financial crisis2007–2009 | -12.78%Oct 2007 | 2mo 11d | 3mo 7d | 5mo 18dAug 2007 - Jan 2008 |
Drawdown Indicators
| ZAR=X | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.37% | -35.99% | -7.38% |
Max Drawdown (1Y)Largest decline over 1 year | -13.61% | -8.26% | -5.35% |
Max Drawdown (3Y)Largest decline over 3 years | -20.35% | -15.04% | -5.31% |
Max Drawdown (5Y)Largest decline over 5 years | -20.53% | -23.43% | +2.90% |
Max Drawdown (10Y)Largest decline over 10 years | -29.70% | -23.43% | -6.27% |
Current DrawdownCurrent decline from peak | -17.49% | -2.20% | -15.29% |
Average DrawdownAverage peak-to-trough decline | -16.50% | -7.74% | -8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.38% | 3.56% | +2.82% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Build a portfolio with ZAR=X
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