^GDAXI vs. CSH.PA
^GDAXI (DAX Performance Index) is an index, while CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) is Money Market fund tracking the Solactive Euro Overnight Return Index. Over the past 10 years, ^GDAXI returned 9.67%/yr vs 0.92%/yr for CSH.PA. At a correlation of -0.04, they often move in opposite directions.
Performance
^GDAXI vs. CSH.PA - Performance Comparison
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Returns By Period
In the year-to-date period, ^GDAXI achieves a 1.10% return, which is significantly higher than CSH.PA's 0.78% return. Over the past 10 years, ^GDAXI has outperformed CSH.PA with an annualized return of 9.67%, while CSH.PA has yielded a comparatively lower 0.92% annualized return.
^GDAXI
- 1D
- 0.00%
- 1M
- 1.73%
- YTD
- 1.10%
- 6M
- 2.97%
- 1Y
- 1.87%
- 3Y*
- 15.79%
- 5Y*
- 9.71%
- 10Y*
- 9.67%
CSH.PA
- 1D
- 0.01%
- 1M
- 0.16%
- YTD
- 0.78%
- 6M
- 0.96%
- 1Y
- 1.96%
- 3Y*
- 2.96%
- 5Y*
- 1.89%
- 10Y*
- 0.92%
^GDAXI vs. CSH.PA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^GDAXI DAX Performance Index | 1.10% | 23.01% | 18.85% | 20.31% | -12.35% | 15.79% | 3.55% | 25.48% | -18.26% | 12.51% |
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 0.78% | 2.25% | 3.69% | 3.22% | -0.06% | -0.65% | 1.93% | -0.61% | -0.55% | -0.45% |
Correlation
The correlation between ^GDAXI and CSH.PA is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008 | -0.04 |
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Return for Risk
^GDAXI vs. CSH.PA — Risk / Return Rank
^GDAXI
CSH.PA
^GDAXI vs. CSH.PA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DAX Performance Index (^GDAXI) and Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA). 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.
| ^GDAXI | CSH.PA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.85 | ||
| Sortino ratioReturn per unit of downside risk | -6.33 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.96 | -0.93 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 11.24 | -11.09 |
| Martin ratioReturn relative to average drawdown | 0.48 | 57.34 | -56.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ^GDAXI | CSH.PA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 3.96 | -3.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 5.28 | -4.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 1.41 | -0.89 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.79 | -0.39 |
Drawdowns
^GDAXI vs. CSH.PA - Drawdown Comparison
The maximum ^GDAXI drawdown since its inception was -72.68%, which is greater than CSH.PA's maximum drawdown of -3.73%. Use the drawdown chart below to compare losses from any high point for ^GDAXI and CSH.PA.
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Drawdown Indicators
| ^GDAXI | CSH.PA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.68% | -3.73% | -68.95% |
Max Drawdown (1Y)Largest decline over 1 year | -12.27% | -0.18% | -12.09% |
Max Drawdown (3Y)Largest decline over 3 years | -16.01% | -0.18% | -15.83% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -0.76% | -25.64% |
Max Drawdown (10Y)Largest decline over 10 years | -38.78% | -2.26% | -36.52% |
Current DrawdownCurrent decline from peak | -2.60% | 0.00% | -2.60% |
Average DrawdownAverage peak-to-trough decline | -15.53% | -1.04% | -14.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 0.03% | +3.84% |
Volatility
^GDAXI vs. CSH.PA - Volatility Comparison
DAX Performance Index (^GDAXI) has a higher volatility of 4.89% compared to Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) at 0.09%. This indicates that ^GDAXI's price experiences larger fluctuations and is considered to be riskier than CSH.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^GDAXI | CSH.PA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 0.09% | +4.80% |
Volatility (6M)Calculated over the trailing 6-month period | 12.89% | 0.41% | +12.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.02% | 0.50% | +15.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.03% | 0.35% | +16.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.36% | 0.64% | +17.72% |
Frequently Asked Questions
^GDAXI and CSH.PA have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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