^NDX vs. DAX
^NDX (NASDAQ 100 Index) is an index, while DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index. Over the past 10 years, ^NDX returned 20.76%/yr vs 9.21%/yr for DAX. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
^NDX vs. DAX - Performance Comparison
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Returns By Period
In the year-to-date period, ^NDX achieves a 16.49% return, which is significantly higher than DAX's -2.02% return. Over the past 10 years, ^NDX has outperformed DAX with an annualized return of 20.76%, while DAX has yielded a comparatively lower 9.21% annualized return.
^NDX
- 1D
- 1.58%
- 1M
- 0.61%
- YTD
- 16.49%
- 6M
- 14.77%
- 1Y
- 35.16%
- 3Y*
- 26.51%
- 5Y*
- 16.32%
- 10Y*
- 20.76%
DAX
- 1D
- -0.07%
- 1M
- -1.60%
- YTD
- -2.02%
- 6M
- 0.86%
- 1Y
- 1.43%
- 3Y*
- 17.37%
- 5Y*
- 7.56%
- 10Y*
- 9.21%
^NDX vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^NDX NASDAQ 100 Index | 16.49% | 20.17% | 24.88% | 53.81% | -32.97% | 26.63% | 47.58% | 37.96% | -1.04% | 31.52% |
DAX Global X DAX Germany ETF | -2.02% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Correlation
The correlation between ^NDX and DAX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2014 | 0.58 |
The correlation between ^NDX and DAX has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.
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Return for Risk
^NDX vs. DAX — Risk / Return Rank
^NDX
DAX
^NDX vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Index (^NDX) and Global X DAX Germany ETF (DAX). 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.
| ^NDX | DAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.02 | ||
| Sortino ratioReturn per unit of downside risk | +2.48 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.03 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 0.10 | +2.82 |
| Martin ratioReturn relative to average drawdown | 11.03 | 0.30 | +10.73 |
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
| ^NDX | DAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 0.08 | +2.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.37 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.92 | 0.44 | +0.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.34 | +0.22 |
Drawdowns
^NDX vs. DAX - Drawdown Comparison
The maximum ^NDX drawdown since its inception was -82.90%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for ^NDX and DAX.
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Drawdown Indicators
| ^NDX | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.90% | -45.58% | -37.32% |
Max Drawdown (1Y)Largest decline over 1 year | -12.12% | -14.82% | +2.70% |
Max Drawdown (3Y)Largest decline over 3 years | -22.93% | -16.03% | -6.90% |
Max Drawdown (5Y)Largest decline over 5 years | -35.56% | -39.72% | +4.16% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -45.58% | +10.02% |
Current DrawdownCurrent decline from peak | -4.06% | -5.93% | +1.87% |
Average DrawdownAverage peak-to-trough decline | -24.62% | -10.50% | -14.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 4.71% | -1.51% |
Volatility
^NDX vs. DAX - Volatility Comparison
NASDAQ 100 Index (^NDX) has a higher volatility of 6.84% compared to Global X DAX Germany ETF (DAX) at 5.30%. This indicates that ^NDX's price experiences larger fluctuations and is considered to be riskier than DAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^NDX | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 5.30% | +1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 13.26% | 14.59% | -1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.87% | 17.86% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.70% | 20.41% | +2.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.59% | 21.28% | +1.31% |
Frequently Asked Questions
^NDX and DAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^NDX has higher volatility (6.84%) compared to DAX (5.30%). In terms of maximum drawdown, ^NDX dropped -82.90% vs DAX's -45.58%.
^NDX currently has the higher Sharpe Ratio (2.10 vs 0.08), 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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