AUDUSD=X vs. GDX
AUDUSD=X (AUD/USD) is a currency, while GDX (VanEck Gold Miners ETF) is Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Over the past 10 years, AUDUSD=X returned -0.78%/yr vs 11.01%/yr for GDX. Their 0.44 correlation means their historical movements had little consistent relationship.
Performance
AUDUSD=X vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, AUDUSD=X achieves a 5.59% return, which is significantly higher than GDX's -9.15% return. Over the past 10 years, AUDUSD=X has underperformed GDX with an annualized return of -0.78%, while GDX has yielded a comparatively higher 11.01% annualized return.
AUDUSD=X
- 1D
- 0.66%
- 1M
- 1.74%
- 6M
- 0.36%
- YTD
- 5.59%
- 1Y
- 8.96%
- 3Y*
- 2.39%
- 5Y*
- -0.98%
- 10Y*
- -0.78%
- ALL TIME*
- -0.84%
GDX
- 1D
- 2.46%
- 1M
- -0.65%
- 6M
- -20.67%
- YTD
- -9.15%
- 1Y
- 42.86%
- 3Y*
- 39.77%
- 5Y*
- 19.51%
- 10Y*
- 11.01%
- ALL TIME*
- 4.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
AUDUSD=X AUD/USD | $134.09K | $126.28K | $137.81K |
| $1.29B | $1.29B | $1.76B |
AUDUSD=X vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AUDUSD=X AUD/USD | 5.59% | 7.81% | -9.12% | -0.06% | -6.27% | -5.58% | 9.75% | -0.37% | -9.73% | 8.36% |
GDX VanEck Gold Miners ETF | -9.15% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Correlation
The correlation between AUDUSD=X and GDX is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2007 | 0.44 |
The correlation between AUDUSD=X and GDX has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.
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Return for Risk
AUDUSD=X vs. GDX — Risk / Return Rank
AUDUSD=X
GDX
AUDUSD=X vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AUD/USD (AUDUSD=X) and VanEck Gold Miners ETF (GDX). 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.
| AUDUSD=X | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.18 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 1.11 | +0.29 |
| Martin ratioReturn relative to average drawdown | 3.33 | 2.36 | +0.97 |
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Drawdowns
AUDUSD=X vs. GDX - Drawdown Comparison
The maximum AUDUSD=X drawdown since its inception was -47.87%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for AUDUSD=X and GDX.
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Drawdown Indicators
| AUDUSD=X | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.87% | -80.34% | +32.47% |
Max Drawdown (1Y)Largest decline over 1 year | -5.12% | -38.93% | +33.81% |
Max Drawdown (3Y)Largest decline over 3 years | -13.83% | -38.93% | +25.10% |
Max Drawdown (5Y)Largest decline over 5 years | -21.39% | -46.51% | +25.12% |
Max Drawdown (10Y)Largest decline over 10 years | -29.18% | -49.79% | +20.61% |
Current DrawdownCurrent decline from peak | -36.04% | -32.73% | -3.31% |
Average DrawdownAverage peak-to-trough decline | -26.15% | -40.37% | +14.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.10% | 18.22% | -16.12% |
Volatility
AUDUSD=X vs. GDX - Volatility Comparison
The current volatility for AUD/USD (AUDUSD=X) is 1.78%, while VanEck Gold Miners ETF (GDX) has a volatility of 12.45%. This indicates that AUDUSD=X experiences smaller price fluctuations and is considered to be less risky than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AUDUSD=X | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 12.45% | -10.67% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 37.80% | -32.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.37% | 48.59% | -41.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.03% | 37.28% | -27.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.56% | 37.35% | -27.79% |
Frequently Asked Questions
AUDUSD=X and GDX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDX has higher volatility (12.45%) compared to AUDUSD=X (1.78%). In terms of maximum drawdown, AUDUSD=X dropped -47.87% vs GDX's -80.34%.
AUDUSD=X currently has the higher Sharpe Ratio (0.97 vs 0.89), 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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