^DXY vs. XLE

Last updated Jun 5, 2026

^DXY (US Dollar Currency Index) is an index, while XLE (State Street Energy Select Sector SPDR ETF) is Energy Equities fund tracking the Energy Select Sector Index. At a correlation of -0.13, they often move in opposite directions.

Performance

^DXY vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Dollar Currency Index (^DXY) and State Street Energy Select Sector SPDR ETF (XLE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

^DXY

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLE

• 1D: 3.01%
• 1M: -0.70%
• 6M: 24.13%
• YTD: 28.66%
• 1Y: 31.29%
• 3Y*: 15.32%
• 5Y*: 21.79%
• 10Y*: 9.42%

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

^DXY vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^DXY US Dollar Currency Index	1.13%	-9.37%	7.06%	-2.11%	7.87%	6.71%	-6.69%	0.22%	4.40%	-9.87%
XLE State Street Energy Select Sector SPDR ETF	28.66%	7.88%	5.56%	-0.63%	64.32%	53.28%	-32.67%	11.74%	-18.22%	-0.89%

Correlation

The correlation between ^DXY and XLE is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.09
Correlation (10Y) Calculated over the trailing 10-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998	-0.13

The correlation between ^DXY and XLE shifts across timeframes, from -0.13 (all time) to 0.09 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

^DXY vs. XLE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^DXY

^DXY Risk / Return Rank: 17
^DXY Sharpe Ratio Rank: 18
^DXY Sortino Ratio Rank: 15
^DXY Omega Ratio Rank: 15
^DXY Calmar Ratio Rank: 19
^DXY Martin Ratio Rank: 19

XLE

XLE Risk / Return Rank: 50
XLE Sharpe Ratio Rank: 55
XLE Sortino Ratio Rank: 52
XLE Omega Ratio Rank: 48
XLE Calmar Ratio Rank: 52
XLE Martin Ratio Rank: 44

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.

^DXY vs. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Dollar Currency Index (^DXY) and State Street Energy Select Sector SPDR ETF (XLE). 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.

	^DXY	XLE	Difference
Sharpe ratio: Return per unit of total volatility	—	1.50	—
Sortino ratio: Return per unit of downside risk	—	2.03	—
Omega ratio: Gain probability vs. loss probability	—	1.25	—
Calmar ratio: Return relative to maximum drawdown	—	2.10	—
Martin ratio: Return relative to average drawdown	—	5.70	—

Drawdowns

Drawdown Indicators

	^DXY	XLE	Difference
Max Drawdown Largest peak-to-trough decline	—	-71.26%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.98%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.81%	—
Current Drawdown Current decline from peak	—	-8.65%	—
Average Drawdown Average peak-to-trough decline	—	-17.95%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.53%	—

Volatility

Volatility by Period

	^DXY	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.32%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.68%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	21.06%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	25.95%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	29.58%	—

Frequently Asked Questions

Can I hold both ^DXY and XLE in my portfolio?

^DXY and XLE have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.