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USD/ZAR

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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S&P 500 Index

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

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%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
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%
20242.15%2.72%-1.75%-0.42%-0.16%-3.46%0.41%-2.04%-3.12%1.90%2.70%4.68%3.29%
20232.51%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%
20212.99%-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
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.


ZAR=X Risk / Return Rank: 1919
Overall Rank
ZAR=X Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
ZAR=X Sortino Ratio Rank: 2121
Sortino Ratio Rank
ZAR=X Omega Ratio Rank: 1818
Omega Ratio Rank
ZAR=X Calmar Ratio Rank: 1818
Calmar Ratio Rank
ZAR=X Martin Ratio Rank: 1818
Martin Ratio Rank
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.

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=XBenchmarkDifference
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 6mo3y 7mo
6y 1moOct 2008 - Dec 2014
2018 bear market2018
-31.48%Feb 2018
2y 1mo2y 24d
4y 2moJan 2016 - Mar 2020
2021 bear market2021
-29.70%Jun 2021
1y 1mo1y 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 11d3mo 7d
5mo 18dAug 2007 - Jan 2008

Drawdown Indicators


ZAR=XBenchmarkDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-17.49%

-2.20%

-15.29%

Average Drawdown

Average peak-to-trough decline

-16.50%

-7.74%

-8.76%

Ulcer Index

Depth 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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Portfolio Analyzer

Build a portfolio with ZAR=X

Add USD/ZAR to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Analyzer with ZAR=X