PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
^GDAXI vs. EURUSD=X
Performance
Return for Risk
Drawdowns
Volatility

^GDAXI vs. EURUSD=X

Last updated Jun 5, 2026

^GDAXI (DAX Performance Index) is an index, while EURUSD=X (EUR/USD) is a currency. Over the past 10 years, ^GDAXI returned 9.44%/yr vs 0.00%/yr for EURUSD=X. At a 0.00 correlation, their price movements are largely independent.

Performance

^GDAXI vs. EURUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in DAX Performance Index (^GDAXI) and EUR/USD (EURUSD=X). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

^GDAXI is traded in EUR, while EURUSD=X is traded in USD. To make them comparable, the EURUSD=X values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ^GDAXI achieves a 1.86% return, which is significantly higher than EURUSD=X's 0.02% return.

^GDAXI

1D
0.60%
1M
0.11%
YTD
1.86%
6M
3.82%
1Y
2.55%
3Y*
16.04%
5Y*
9.71%
10Y*
9.44%

EURUSD=X

1D
0.03%
1M
0.01%
YTD
0.02%
6M
-0.00%
1Y
0.02%
3Y*
0.01%
5Y*
-0.00%
10Y*
0.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

^GDAXI vs. EURUSD=X - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
^GDAXI
DAX Performance Index		1.86%23.01%18.85%20.31%-12.35%15.79%3.55%25.48%-18.26%12.51%
EURUSD=X
EUR/USD		0.02%-0.03%0.01%0.07%-0.18%0.16%-0.12%0.27%-0.19%0.11%

Correlation

The correlation between ^GDAXI and EURUSD=X is -0.03, 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

-0.03

Correlation (3Y)
Calculated over the trailing 3-year period

0.01

Correlation (5Y)
Calculated over the trailing 5-year period

0.01

Correlation (10Y)
Calculated over the trailing 10-year period

0.00

Correlation (All Time)
Calculated using the full available price history since Aug 29, 2007

0.00

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

DAX Performance Index

EUR/USD

Often compared with ^GDAXI:
^GDAXI vs. ^AEX^GDAXI vs. ^FCHI^GDAXI vs. BZ=F^GDAXI vs. SPY^GDAXI vs. VOO^GDAXI vs. WLDL.L^GDAXI vs. BOND
Often compared with EURUSD=X:
EURUSD=X vs. BTC-USDEURUSD=X vs. GBPUSD=XEURUSD=X vs. FXEEURUSD=X vs. NZDUSD=XEURUSD=X vs. USDEURUSD=X vs. AUDUSD=XEURUSD=X vs. ^STOXX

Return for Risk

^GDAXI vs. EURUSD=X — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
^GDAXI
^GDAXI Risk / Return Rank: 2020
Overall Rank
^GDAXI Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
^GDAXI Sortino Ratio Rank: 1818
Sortino Ratio Rank
^GDAXI Omega Ratio Rank: 1818
Omega Ratio Rank
^GDAXI Calmar Ratio Rank: 2020
Calmar Ratio Rank
^GDAXI Martin Ratio Rank: 2323
Martin Ratio Rank
EURUSD=X
EURUSD=X Risk / Return Rank: 5252
Overall Rank
EURUSD=X Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
EURUSD=X Sortino Ratio Rank: 5252
Sortino Ratio Rank
EURUSD=X Omega Ratio Rank: 5151
Omega Ratio Rank
EURUSD=X Calmar Ratio Rank: 5252
Calmar Ratio Rank
EURUSD=X Martin Ratio Rank: 5252
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.

^GDAXI vs. EURUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DAX Performance Index (^GDAXI) and EUR/USD (EURUSD=X). 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.

^GDAXIEURUSD=XDifference
Sharpe ratioReturn per unit of total volatility
0.17
0.02

+0.15

Sortino ratioReturn per unit of downside risk
0.36
0.03

+0.33

Omega ratioGain probability vs. loss probability

1.04

1.00

+0.04

Calmar ratioReturn relative to maximum drawdown

0.22

0.03

+0.19

Martin ratioReturn relative to average drawdown

0.70

0.15

+0.55

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^GDAXI vs. EURUSD=X - Sharpe Ratio Comparison

The current ^GDAXI Sharpe Ratio is 0.17, which is higher than the EURUSD=X Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of ^GDAXI and EURUSD=X, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

^GDAXIEURUSD=XDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.17

0.02

+0.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.56

-0.00

+0.56

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.00

+0.51

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.00

+0.42

Drawdowns

^GDAXI vs. EURUSD=X - Drawdown Comparison

The maximum ^GDAXI drawdown since its inception was -72.68%, which is greater than EURUSD=X's maximum drawdown of -1.76%. Use the drawdown chart below to compare losses from any high point for ^GDAXI and EURUSD=X.

Loading charts...

Drawdown Indicators

^GDAXIEURUSD=XDifference

Max Drawdown

Largest peak-to-trough decline

-72.68%

-1.76%

-70.92%

Max Drawdown (1Y)

Largest decline over 1 year

-12.27%

-0.43%

-11.84%

Max Drawdown (3Y)

Largest decline over 3 years

-16.01%

-0.81%

-15.20%

Max Drawdown (5Y)

Largest decline over 5 years

-26.40%

-0.81%

-25.59%

Max Drawdown (10Y)

Largest decline over 10 years

-38.78%

-1.22%

-37.56%

Current Drawdown

Current decline from peak

-1.87%

-0.72%

-1.15%

Average Drawdown

Average peak-to-trough decline

-14.71%

-0.72%

-13.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.92%

0.09%

+3.83%

Volatility

^GDAXI vs. EURUSD=X - Volatility Comparison

DAX Performance Index (^GDAXI) has a higher volatility of 5.14% compared to EUR/USD (EURUSD=X) at 0.23%. This indicates that ^GDAXI's price experiences larger fluctuations and is considered to be riskier than EURUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

^GDAXIEURUSD=XDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.14%

0.23%

+4.91%

Volatility (6M)

Calculated over the trailing 6-month period

12.92%

0.56%

+12.36%

Volatility (1Y)

Calculated over the trailing 1-year period

15.99%

0.75%

+15.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.03%

0.74%

+16.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.35%

1.15%

+17.20%

Frequently Asked Questions

^GDAXI and EURUSD=X have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

^GDAXI has higher volatility (5.14%) compared to EURUSD=X (0.23%). In terms of maximum drawdown, ^GDAXI dropped -72.68% vs EURUSD=X's -1.76%.

^GDAXI currently has the higher Sharpe Ratio (0.17 vs 0.02), 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.

Portfolio Optimizer

Find the right allocation for ^GDAXI and EURUSD=X

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

Open Portfolio Optimizer