^NIFTY500 vs. ^GSPC

Last updated Jun 5, 2026

^NIFTY500 (Nifty 500) and ^GSPC (S&P 500 Index) are both indexes. Over the past 10 years, ^NIFTY500 returned 12.66%/yr vs 17.78%/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 (^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 18.12% return. Over the past 10 years, ^NIFTY500 has underperformed ^GSPC with an annualized return of 12.66%, while ^GSPC has yielded a comparatively higher 17.78% annualized return.

^NIFTY500

• 1D: 0.20%
• 1M: -1.36%
• YTD: -5.76%
• 6M: -5.24%
• 1Y: -1.36%
• 3Y*: 12.36%
• 5Y*: 10.93%
• 10Y*: 12.66%

^GSPC

• 1D: 0.49%
• 1M: 5.14%
• YTD: 18.12%
• 6M: 17.99%
• 1Y: 41.74%
• 3Y*: 27.26%
• 5Y*: 18.66%
• 10Y*: 17.78%

*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	-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	18.12%	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 0.02, 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	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jul 4, 2007	0.08

The correlation between ^NIFTY500 and ^GSPC shifts across timeframes, from 0.02 (1 year) to 0.13 (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: 80
^GSPC Sharpe Ratio Rank: 79
^GSPC Sortino Ratio Rank: 79
^GSPC Omega Ratio Rank: 79
^GSPC Calmar Ratio Rank: 76
^GSPC Martin Ratio Rank: 86

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 (^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.

	^NIFTY500	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	3.62	-3.72
Sortino ratio: Return per unit of downside risk	-0.04	4.80	-4.84
Omega ratio: Gain probability vs. loss probability	0.99	1.65	-0.66
Calmar ratio: Return relative to maximum drawdown	-0.09	6.18	-6.27
Martin ratio: Return relative to average drawdown	-0.31	24.03	-24.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^NIFTY500 vs. ^GSPC - Sharpe Ratio Comparison

The current ^NIFTY500 Sharpe Ratio is -0.10, which is lower than the ^GSPC Sharpe Ratio of 3.62. 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.

Sharpe Ratios by Period

	^NIFTY500	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	3.62	-3.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	1.16	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	1.04	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.73	-0.17

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 -43.99%. 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%	-43.99%	-24.03%
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%	0.00%	-8.16%
Average Drawdown Average peak-to-trough decline	-21.59%	-6.14%	-15.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	1.74%	+2.74%

Volatility

^NIFTY500 vs. ^GSPC - Volatility Comparison

Nifty 500 (^NIFTY500) has a higher volatility of 4.01% compared to S&P 500 Index (^GSPC) at 2.87%. This indicates that ^NIFTY500'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

	^NIFTY500	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	2.87%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	8.51%	+3.73%
Volatility (1Y) Calculated over the trailing 1-year period	13.86%	11.60%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.37%	16.11%	-1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	17.09%	-0.91%

Frequently Asked Questions

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

^NIFTY500 and ^GSPC have a correlation of 0.02, 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?

^NIFTY500 has higher volatility (4.01%) compared to ^GSPC (2.87%). In terms of maximum drawdown, ^NIFTY500 dropped -68.02% vs ^GSPC's -43.99%.

Which has better risk-adjusted returns?

^GSPC currently has the higher Sharpe Ratio (3.62 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.