BULP.L vs. JPY=X
BULP.L (WisdomTree Gold) is Precious Metals fund tracking the Gold, while JPY=X (USD/JPY) is a currency. Over the past 10 years, BULP.L returned 12.01%/yr vs 0.86%/yr for JPY=X. At a 0.18 correlation, their price movements are largely independent.
Performance
BULP.L vs. JPY=X - Performance Comparison
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Different Trading Currencies
BULP.L is traded in GBp, while JPY=X is traded in JPY. To make them comparable, the JPY=X values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, BULP.L achieves a 3.12% return, which is significantly higher than JPY=X's 0.85% return. Over the past 10 years, BULP.L has outperformed JPY=X with an annualized return of 12.01%, while JPY=X has yielded a comparatively lower 0.86% annualized return.
BULP.L
- 1D
- 0.71%
- 1M
- -1.50%
- YTD
- 3.12%
- 6M
- 4.39%
- 1Y
- 31.07%
- 3Y*
- 25.79%
- 5Y*
- 17.62%
- 10Y*
- 12.01%
JPY=X
- 1D
- 0.57%
- 1M
- 1.83%
- YTD
- 0.85%
- 6M
- -0.11%
- 1Y
- 1.75%
- 3Y*
- -2.36%
- 5Y*
- 1.20%
- 10Y*
- 0.86%
BULP.L vs. JPY=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BULP.L WisdomTree Gold | 3.12% | 50.05% | 26.15% | 5.12% | 9.83% | -4.73% | 15.76% | 12.89% | 2.70% | 0.05% |
JPY=X USD/JPY | 0.85% | -7.09% | 1.89% | -5.03% | 11.87% | 1.00% | -2.95% | -3.92% | 6.05% | -8.59% |
Correlation
The correlation between BULP.L and JPY=X is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2007 | 0.18 |
The correlation between BULP.L and JPY=X shifts across timeframes, from -0.13 (1 year) to 0.19 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
BULP.L vs. JPY=X — Risk / Return Rank
BULP.L
JPY=X
BULP.L vs. JPY=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Gold (BULP.L) and USD/JPY (JPY=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.
| BULP.L | JPY=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.04 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 0.23 | +1.50 |
| Martin ratioReturn relative to average drawdown | 4.57 | 0.53 | +4.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BULP.L | JPY=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 0.22 | +1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.06 | 0.13 | +0.93 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.74 | 0.09 | +0.65 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.22 | +0.35 |
Drawdowns
BULP.L vs. JPY=X - Drawdown Comparison
The maximum BULP.L drawdown since its inception was -44.90%, which is greater than JPY=X's maximum drawdown of -22.90%. Use the drawdown chart below to compare losses from any high point for BULP.L and JPY=X.
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Drawdown Indicators
| BULP.L | JPY=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.90% | -22.90% | -22.00% |
Max Drawdown (1Y)Largest decline over 1 year | -17.88% | -6.01% | -11.87% |
Max Drawdown (3Y)Largest decline over 3 years | -17.88% | -12.78% | -5.10% |
Max Drawdown (5Y)Largest decline over 5 years | -17.88% | -22.90% | +5.02% |
Max Drawdown (10Y)Largest decline over 10 years | -23.68% | -22.90% | -0.78% |
Current DrawdownCurrent decline from peak | -16.32% | -19.96% | +3.64% |
Average DrawdownAverage peak-to-trough decline | -16.25% | -11.10% | -5.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.79% | 2.73% | +4.06% |
Volatility
BULP.L vs. JPY=X - Volatility Comparison
WisdomTree Gold (BULP.L) has a higher volatility of 5.11% compared to USD/JPY (JPY=X) at 1.67%. This indicates that BULP.L's price experiences larger fluctuations and is considered to be riskier than JPY=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BULP.L | JPY=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 1.67% | +3.44% |
Volatility (6M)Calculated over the trailing 6-month period | 20.04% | 5.14% | +14.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.59% | 6.48% | +17.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.63% | 8.32% | +8.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.23% | 9.38% | +6.85% |
Frequently Asked Questions
BULP.L and JPY=X have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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