AUD=X vs. GC=F

Last updated Apr 3, 2026

Compare and contrast key facts about USD/AUD (AUD=X) and Gold (GC=F).

Performance

AUD=X vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in USD/AUD (AUD=X) and Gold (GC=F). The values are adjusted to include any dividend payments, if applicable.

AUD=X vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUD=X USD/AUD	-3.39%	-7.26%	10.06%	0.08%	6.61%	5.86%	-8.78%	0.47%	10.72%	-7.62%
GC=F Gold	5.03%	52.58%	40.31%	13.42%	6.15%	2.19%	13.65%	19.42%	8.35%	4.94%

Different Trading Currencies

AUD=X is traded in AUD, while GC=F is traded in USD. To make them comparable, the GC=F values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AUD=X achieves a -3.39% return, which is significantly lower than GC=F's 5.03% return. Over the past 10 years, AUD=X has underperformed GC=F with an annualized return of 0.97%, while GC=F has yielded a comparatively higher 15.57% annualized return.

AUD=X

• 1D: 0.29%
• 1M: 1.84%
• YTD: -3.39%
• 6M: -4.53%
• 1Y: -9.36%
• 3Y*: -0.59%
• 5Y*: 1.95%
• 10Y*: 0.97%

GC=F

• 1D: -1.40%
• 1M: -6.23%
• YTD: 5.03%
• 6M: 16.93%
• 1Y: 35.75%
• 3Y*: 32.54%
• 5Y*: 24.60%
• 10Y*: 15.57%

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

Return for Risk

AUD=X vs. GC=F — Risk / Return Rank

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

AUD=X

AUD=X Risk / Return Rank: 15
AUD=X Sharpe Ratio Rank: 14
AUD=X Sortino Ratio Rank: 11
AUD=X Omega Ratio Rank: 13
AUD=X Calmar Ratio Rank: 21
AUD=X Martin Ratio Rank: 15

GC=F

GC=F Risk / Return Rank: 82
GC=F Sharpe Ratio Rank: 83
GC=F Sortino Ratio Rank: 89
GC=F Omega Ratio Rank: 77
GC=F Calmar Ratio Rank: 69
GC=F Martin Ratio Rank: 90

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.

AUD=X vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD/AUD (AUD=X) and Gold (GC=F). 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.

	AUD=X	GC=F	Difference
Sharpe ratio Return per unit of total volatility	-0.83	1.35	-2.18
Sortino ratio Return per unit of downside risk	-1.17	1.74	-2.91
Omega ratio Gain probability vs. loss probability	0.86	1.27	-0.41
Calmar ratio Return relative to maximum drawdown	-0.53	2.06	-2.59
Martin ratio Return relative to average drawdown	-1.15	6.93	-8.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUD=X vs. GC=F - Sharpe Ratio Comparison

The current AUD=X Sharpe Ratio is -0.83, which is lower than the GC=F Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of AUD=X and GC=F, 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

	AUD=X	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.83	1.35	-2.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	1.44	-1.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	0.98	-0.88
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.59	-0.52

Correlation

The correlation between AUD=X and GC=F is 0.32, 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

AUD=X vs. GC=F - Drawdown Comparison

The maximum AUD=X drawdown since its inception was -45.40%, which is greater than GC=F's maximum drawdown of -28.16%. Use the drawdown chart below to compare losses from any high point for AUD=X and GC=F.

Drawdown Indicators

	AUD=X	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-45.40%	-44.36%	-1.04%
Max Drawdown (1Y) Largest decline over 1 year	-16.78%	-17.73%	+0.95%
Max Drawdown (5Y) Largest decline over 5 years	-16.78%	-20.43%	+3.65%
Max Drawdown (10Y) Largest decline over 10 years	-28.03%	-20.87%	-7.16%
Current Drawdown Current decline from peak	-16.98%	-11.58%	-5.40%
Average Drawdown Average peak-to-trough decline	-21.99%	-13.03%	-8.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	4.83%	-0.12%

Volatility

AUD=X vs. GC=F - Volatility Comparison

The current volatility for USD/AUD (AUD=X) is 3.11%, while Gold (GC=F) has a volatility of 11.39%. This indicates that AUD=X experiences smaller price fluctuations and is considered to be less risky than GC=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUD=X	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	11.39%	-8.28%
Volatility (6M) Calculated over the trailing 6-month period	5.73%	23.00%	-17.27%
Volatility (1Y) Calculated over the trailing 1-year period	9.21%	25.50%	-16.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.05%	17.03%	-6.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.72%	15.95%	-6.23%