^NIFTY500 vs. ^GSPC

Last updated Jun 21, 2026

^NIFTY500 (NIFTY 500 Index) and ^GSPC (S&P 500 Index) are both indexes. Over the past 10 years, ^NIFTY500 returned 12.66%/yr vs 17.50%/yr for ^GSPC. At a 0.08 correlation, their price movements are largely independent.

Performance

^NIFTY500 vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a ₹10,000 investment in NIFTY 500 Index (^NIFTY500) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

^NIFTY500 is traded in INR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to INR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ^NIFTY500 achieves a -5.76% return, which is significantly lower than ^GSPC's 13.26% return. Over the past 10 years, ^NIFTY500 has underperformed ^GSPC with an annualized return of 12.66%, while ^GSPC has yielded a comparatively higher 17.50% annualized return.

^NIFTY500

• 1D: 0.20%
• 1M: -0.68%
• YTD: -5.76%
• 6M: -5.85%
• 1Y: -2.19%
• 3Y*: 12.36%
• 5Y*: 10.93%
• 10Y*: 12.66%

^GSPC

• 1D: -0.17%
• 1M: -2.60%
• YTD: 13.26%
• 6M: 11.92%
• 1Y: 33.10%
• 3Y*: 25.05%
• 5Y*: 16.93%
• 10Y*: 17.50%

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

^NIFTY500 vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^NIFTY500 NIFTY 500 Index	-5.76%	6.69%	15.16%	25.76%	4.09%	28.86%	16.67%	7.66%	-3.38%	35.91%
^GSPC S&P 500 Index	13.26%	21.96%	27.04%	25.09%	-10.78%	29.42%	19.18%	32.15%	2.25%	12.00%

Correlation

The correlation between ^NIFTY500 and ^GSPC is 0.00, 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	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007	0.08

The correlation between ^NIFTY500 and ^GSPC shifts across timeframes, from 0.00 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

^NIFTY500 vs. ^GSPC — Risk / Return Rank

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

^NIFTY500

^NIFTY500 Risk / Return Rank: 8
^NIFTY500 Sharpe Ratio Rank: 8
^NIFTY500 Sortino Ratio Rank: 8
^NIFTY500 Omega Ratio Rank: 8
^NIFTY500 Calmar Ratio Rank: 10
^NIFTY500 Martin Ratio Rank: 8

^GSPC

^GSPC Risk / Return Rank: 60
^GSPC Sharpe Ratio Rank: 57
^GSPC Sortino Ratio Rank: 56
^GSPC Omega Ratio Rank: 59
^GSPC Calmar Ratio Rank: 55
^GSPC Martin Ratio Rank: 72

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.

^NIFTY500 vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NIFTY 500 Index (^NIFTY500) 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.

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.

	^NIFTY500	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	2.62	-2.72
Sortino ratio: Return per unit of downside risk	-0.04	3.42	-3.47
Omega ratio: Gain probability vs. loss probability	0.99	1.47	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.09	4.90	-4.99
Martin ratio: Return relative to average drawdown	-0.31	17.64	-17.94

^NIFTY500 vs. ^GSPC - Sharpe Ratio Comparison

The current ^NIFTY500 Sharpe Ratio is -0.10, which is lower than the ^GSPC Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of ^NIFTY500 and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

^NIFTY500 vs. ^GSPC - Drawdown Comparison

The maximum ^NIFTY500 drawdown since its inception was -68.02%, which is greater than ^GSPC's maximum drawdown of -42.97%. Use the drawdown chart below to compare losses from any high point for ^NIFTY500 and ^GSPC.

Drawdown Indicators

	^NIFTY500	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-68.02%	-42.97%	-25.05%
Max Drawdown (1Y) Largest decline over 1 year	-14.82%	-6.78%	-8.04%
Max Drawdown (3Y) Largest decline over 3 years	-18.84%	-19.29%	+0.45%
Max Drawdown (5Y) Largest decline over 5 years	-18.84%	-20.51%	+1.67%
Max Drawdown (10Y) Largest decline over 10 years	-38.30%	-28.50%	-9.80%
Current Drawdown Current decline from peak	-8.16%	-4.12%	-4.04%
Average Drawdown Average peak-to-trough decline	-21.59%	-5.80%	-15.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	1.88%	+2.60%

Volatility

^NIFTY500 vs. ^GSPC - Volatility Comparison

The current volatility for NIFTY 500 Index (^NIFTY500) is 4.01%, while S&P 500 Index (^GSPC) has a volatility of 5.60%. This indicates that ^NIFTY500 experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^NIFTY500	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	5.60%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	9.84%	+2.40%
Volatility (1Y) Calculated over the trailing 1-year period	13.86%	12.71%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.37%	16.26%	-1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	17.14%	-0.96%

Frequently Asked Questions

Can I hold both ^NIFTY500 and ^GSPC in my portfolio?

^NIFTY500 and ^GSPC have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^NIFTY500 or ^GSPC?

^GSPC has higher volatility (5.60%) compared to ^NIFTY500 (4.01%). In terms of maximum drawdown, ^NIFTY500 dropped -68.02% vs ^GSPC's -42.97%.

Which has better risk-adjusted returns?

^GSPC currently has the higher Sharpe Ratio (2.62 vs -0.10), 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.