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AUDUSD=X vs. NZDUSD=X
Performance
Return for Risk
Drawdowns
Volatility

AUDUSD=X vs. NZDUSD=X

Last updated Jun 26, 2026

AUDUSD=X (AUD/USD) and NZDUSD=X (New Zealand Dollar/US Dollar FX) are both currencies. Over the past 10 years, AUDUSD=X returned -0.60%/yr vs -2.12%/yr for NZDUSD=X. Their correlation of 0.82 suggests significant overlap in exposure.

Performance

AUDUSD=X vs. NZDUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AUD/USD (AUDUSD=X) and New Zealand Dollar/US Dollar FX (NZDUSD=X). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AUDUSD=X achieves a 3.38% return, which is significantly higher than NZDUSD=X's -1.92% return. Over the past 10 years, AUDUSD=X has outperformed NZDUSD=X with an annualized return of -0.60%, while NZDUSD=X has yielded a comparatively lower -2.12% annualized return.

AUDUSD=X

1D
-0.01%
1M
-3.74%
YTD
3.38%
6M
2.82%
1Y
5.93%
3Y*
1.10%
5Y*
-1.88%
10Y*
-0.60%

NZDUSD=X

1D
-0.07%
1M
-3.29%
YTD
-1.92%
6M
-3.27%
1Y
-6.48%
3Y*
-2.90%
5Y*
-4.41%
10Y*
-2.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AUDUSD=X vs. NZDUSD=X - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AUDUSD=X
AUD/USD		3.38%7.81%-9.12%-0.06%-6.27%-5.58%9.75%-0.37%-9.73%8.36%
NZDUSD=X
New Zealand Dollar/US Dollar FX		-1.92%2.87%-11.45%-0.44%-7.32%-4.75%6.74%0.43%-5.48%2.51%

Correlation

The correlation between AUDUSD=X and NZDUSD=X is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.87

Correlation (5Y)
Calculated over the trailing 5-year period

0.87

Correlation (10Y)
Calculated over the trailing 10-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Jul 26, 2007

0.82

The correlation between AUDUSD=X and NZDUSD=X has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

AUD/USD

New Zealand Dollar/US Dollar FX

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Often compared with NZDUSD=X:
NZDUSD=X vs. EURUSD=XNZDUSD=X vs. GBPUSD=XNZDUSD=X vs. ^AFLINZDUSD=X vs. SPYNZDUSD=X vs. ^HSI

Return for Risk

AUDUSD=X vs. NZDUSD=X — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AUDUSD=X
AUDUSD=X Risk / Return Rank: 7979
Overall Rank
AUDUSD=X Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
AUDUSD=X Sortino Ratio Rank: 7777
Sortino Ratio Rank
AUDUSD=X Omega Ratio Rank: 7777
Omega Ratio Rank
AUDUSD=X Calmar Ratio Rank: 8383
Calmar Ratio Rank
AUDUSD=X Martin Ratio Rank: 8383
Martin Ratio Rank
NZDUSD=X
NZDUSD=X Risk / Return Rank: 1717
Overall Rank
NZDUSD=X Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
NZDUSD=X Sortino Ratio Rank: 2020
Sortino Ratio Rank
NZDUSD=X Omega Ratio Rank: 2020
Omega Ratio Rank
NZDUSD=X Calmar Ratio Rank: 1515
Calmar Ratio Rank
NZDUSD=X Martin Ratio Rank: 77
Martin Ratio Rank
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.

AUDUSD=X vs. NZDUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AUD/USD (AUDUSD=X) and New Zealand Dollar/US Dollar FX (NZDUSD=X). 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=XNZDUSD=XDifference
Sharpe ratioReturn per unit of total volatility
0.63
-0.65

+1.28

Sortino ratioReturn per unit of downside risk
0.93
-0.86

+1.79

Omega ratioGain probability vs. loss probability

1.11

0.90

+0.21

Calmar ratioReturn relative to maximum drawdown

0.96

-0.62

+1.58

Martin ratioReturn relative to average drawdown

2.69

-1.18

+3.88

AUDUSD=X vs. NZDUSD=X - Sharpe Ratio Comparison

The current AUDUSD=X Sharpe Ratio is 0.63, which is higher than the NZDUSD=X Sharpe Ratio of -0.65. The chart below compares the historical Sharpe Ratios of AUDUSD=X and NZDUSD=X, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AUDUSD=X vs. NZDUSD=X - Drawdown Comparison

The maximum AUDUSD=X drawdown since its inception was -47.87%, which is greater than NZDUSD=X's maximum drawdown of -39.83%. Use the drawdown chart below to compare losses from any high point for AUDUSD=X and NZDUSD=X.

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Drawdown Indicators

AUDUSD=XNZDUSD=XDifference

Max Drawdown

Largest peak-to-trough decline

-47.87%

-39.83%

-8.04%

Max Drawdown (1Y)

Largest decline over 1 year

-4.94%

-8.48%

+3.54%

Max Drawdown (3Y)

Largest decline over 3 years

-13.83%

-13.50%

-0.33%

Max Drawdown (5Y)

Largest decline over 5 years

-21.49%

-23.19%

+1.70%

Max Drawdown (10Y)

Largest decline over 10 years

-29.18%

-26.48%

-2.70%

Current Drawdown

Current decline from peak

-37.38%

-36.02%

-1.36%

Average Drawdown

Average peak-to-trough decline

-25.95%

-19.76%

-6.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.85%

3.72%

-1.87%

Volatility

AUDUSD=X vs. NZDUSD=X - Volatility Comparison

AUD/USD (AUDUSD=X) and New Zealand Dollar/US Dollar FX (NZDUSD=X) have volatilities of 2.30% and 2.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AUDUSD=XNZDUSD=XDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.30%

2.38%

-0.08%

Volatility (6M)

Calculated over the trailing 6-month period

6.50%

6.89%

-0.39%

Volatility (1Y)

Calculated over the trailing 1-year period

7.55%

8.09%

-0.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.07%

9.99%

+0.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.63%

9.68%

-0.05%

Frequently Asked Questions

AUDUSD=X and NZDUSD=X have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NZDUSD=X has higher volatility (2.38%) compared to AUDUSD=X (2.30%). In terms of maximum drawdown, AUDUSD=X dropped -47.87% vs NZDUSD=X's -39.83%.

AUDUSD=X currently has the higher Sharpe Ratio (0.63 vs -0.65), 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.

Portfolio Optimizer

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