^N225 vs. ^GSPC

Last updated Apr 3, 2026

Compare and contrast key facts about Nikkei 225 (^N225) and S&P 500 Index (^GSPC).

Performance

^N225 vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a ¥10,000 investment in Nikkei 225 (^N225) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

^N225 vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^N225 Nikkei 225	5.53%	26.18%	19.22%	28.24%	-9.37%	4.91%	16.01%	18.20%	-12.08%	19.10%
^GSPC S&P 500 Index	-2.17%	16.05%	37.59%	33.59%	-8.24%	41.44%	10.51%	27.63%	-8.71%	15.00%

Different Trading Currencies

^N225 is traded in JPY, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to JPY using the latest available exchange rates.

Returns By Period

In the year-to-date period, ^N225 achieves a 5.53% return, which is significantly higher than ^GSPC's -2.17% return. Over the past 10 years, ^N225 has underperformed ^GSPC with an annualized return of 12.94%, while ^GSPC has yielded a comparatively higher 16.40% annualized return.

^N225

• 1D: 1.26%
• 1M: -5.61%
• YTD: 5.53%
• 6M: 18.22%
• 1Y: 48.69%
• 3Y*: 23.38%
• 5Y*: 12.22%
• 10Y*: 12.94%

^GSPC

• 1D: 0.61%
• 1M: -2.28%
• YTD: -2.17%
• 6M: 6.22%
• 1Y: 24.13%
• 3Y*: 24.37%
• 5Y*: 18.76%
• 10Y*: 16.40%

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

Return for Risk

^N225 vs. ^GSPC — Risk / Return Rank

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

^N225

^N225 Risk / Return Rank: 90
^N225 Sharpe Ratio Rank: 93
^N225 Sortino Ratio Rank: 97
^N225 Omega Ratio Rank: 93
^N225 Calmar Ratio Rank: 81
^N225 Martin Ratio Rank: 84

^GSPC

^GSPC Risk / Return Rank: 58
^GSPC Sharpe Ratio Rank: 52
^GSPC Sortino Ratio Rank: 55
^GSPC Omega Ratio Rank: 59
^GSPC Calmar Ratio Rank: 52
^GSPC Martin Ratio Rank: 71

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.

^N225 vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nikkei 225 (^N225) and S&P 500 Index (^GSPC). 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.

	^N225	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	2.04	1.06	+0.98
Sortino ratio Return per unit of downside risk	2.77	1.58	+1.19
Omega ratio Gain probability vs. loss probability	1.38	1.24	+0.13
Calmar ratio Return relative to maximum drawdown	2.24	1.74	+0.50
Martin ratio Return relative to average drawdown	8.76	7.06	+1.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^N225 vs. ^GSPC - Sharpe Ratio Comparison

The current ^N225 Sharpe Ratio is 2.04, which is higher than the ^GSPC Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of ^N225 and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^N225	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	1.06	+0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.95	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.76	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.39	-0.12

Correlation

The correlation between ^N225 and ^GSPC is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

^N225 vs. ^GSPC - Drawdown Comparison

The maximum ^N225 drawdown since its inception was -81.87%, which is greater than ^GSPC's maximum drawdown of -64.72%. Use the drawdown chart below to compare losses from any high point for ^N225 and ^GSPC.

Drawdown Indicators

	^N225	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-81.87%	-56.78%	-25.09%
Max Drawdown (1Y) Largest decline over 1 year	-13.23%	-9.10%	-4.13%
Max Drawdown (5Y) Largest decline over 5 years	-26.26%	-25.43%	-0.83%
Max Drawdown (10Y) Largest decline over 10 years	-31.80%	-33.92%	+2.12%
Current Drawdown Current decline from peak	-9.73%	-5.67%	-4.06%
Average Drawdown Average peak-to-trough decline	-34.31%	-10.75%	-23.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.63%	2.62%	+2.01%

Volatility

^N225 vs. ^GSPC - Volatility Comparison

Nikkei 225 (^N225) has a higher volatility of 11.75% compared to S&P 500 Index (^GSPC) at 4.63%. This indicates that ^N225's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^N225	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.75%	4.63%	+7.12%
Volatility (6M) Calculated over the trailing 6-month period	19.73%	11.40%	+8.33%
Volatility (1Y) Calculated over the trailing 1-year period	27.03%	22.84%	+4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.98%	19.83%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.76%	21.68%	-0.92%