^AEX vs. ^GDAXI
^AEX (AEX Index) and ^GDAXI (DAX Performance Index) are both indexes. Over the past 10 years, ^AEX returned 9.42%/yr vs 9.63%/yr for ^GDAXI. Their correlation of 0.81 means they have usually moved in the same direction.
Performance
^AEX vs. ^GDAXI - Performance Comparison
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Returns By Period
In the year-to-date period, ^AEX achieves a 15.87% return, which is significantly higher than ^GDAXI's 6.17% return. Both investments have delivered pretty close results over the past 10 years, with ^AEX having a 9.42% annualized return and ^GDAXI not far ahead at 9.63%.
^AEX
- 1D
- 0.28%
- 1M
- 1.76%
- 6M
- 10.89%
- YTD
- 15.87%
- 1Y
- 24.02%
- 3Y*
- 12.57%
- 5Y*
- 7.54%
- 10Y*
- 9.42%
- ALL TIME*
- 6.62%
^GDAXI
- 1D
- 0.00%
- 1M
- 0.86%
- 6M
- 4.93%
- YTD
- 6.17%
- 1Y
- 9.44%
- 3Y*
- 17.69%
- 5Y*
- 10.55%
- 10Y*
- 9.63%
- ALL TIME*
- 8.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^AEX AEX Index | €61.36B | €54.66B | €59.47B |
^GDAXI DAX Performance Index | €1.32T | €1.28T | €1.51T |
^AEX vs. ^GDAXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^AEX AEX Index | 15.87% | 8.27% | 11.67% | 14.20% | -13.65% | 27.75% | 3.31% | 23.92% | -10.41% | 12.71% |
^GDAXI DAX Performance Index | 6.17% | 23.01% | 18.85% | 20.31% | -12.35% | 15.79% | 3.55% | 25.48% | -18.26% | 12.51% |
Correlation
The correlation between ^AEX and ^GDAXI is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 1992 | 0.81 |
The correlation between ^AEX and ^GDAXI shifts across timeframes, from 0.66 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
^AEX vs. ^GDAXI — Risk / Return Rank
^AEX
^GDAXI
^AEX vs. ^GDAXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AEX Index (^AEX) and DAX Performance Index (^GDAXI). 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.
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.
| ^AEX | ^GDAXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.12 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 0.77 | +2.79 |
| Martin ratioReturn relative to average drawdown | 10.45 | 2.43 | +8.02 |
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Drawdowns
^AEX vs. ^GDAXI - Drawdown Comparison
The maximum ^AEX drawdown since its inception was -71.60%, roughly equal to the maximum ^GDAXI drawdown of -72.68%. Use the drawdown chart below to compare losses from any high point for ^AEX and ^GDAXI.
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Drawdown Indicators
| ^AEX | ^GDAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.60% | -72.68% | +1.08% |
Max Drawdown (1Y)Largest decline over 1 year | -6.82% | -12.27% | +5.45% |
Max Drawdown (3Y)Largest decline over 3 years | -16.03% | -16.01% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -23.80% | -26.40% | +2.60% |
Max Drawdown (10Y)Largest decline over 10 years | -35.78% | -38.78% | +3.00% |
Current DrawdownCurrent decline from peak | -0.22% | 0.00% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -25.55% | -15.47% | -10.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 3.89% | -1.56% |
Volatility
^AEX vs. ^GDAXI - Volatility Comparison
The current volatility for AEX Index (^AEX) is 2.85%, while DAX Performance Index (^GDAXI) has a volatility of 4.24%. This indicates that ^AEX experiences smaller price fluctuations and is considered to be less risky than ^GDAXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^AEX | ^GDAXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 4.24% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 10.18% | 13.49% | -3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.13% | 15.98% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.34% | 17.05% | -1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.95% | 18.11% | -2.16% |
Frequently Asked Questions
^AEX and ^GDAXI have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^GDAXI has higher volatility (4.24%) compared to ^AEX (2.85%). In terms of maximum drawdown, ^AEX dropped -71.60% vs ^GDAXI's -72.68%.
^AEX currently has the higher Sharpe Ratio (1.85 vs 0.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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