BZ=F vs. ^GDAXI

Last updated Jun 24, 2026

BZ=F (Brent Crude Oil Last Day Financial Futures) is an asset, while ^GDAXI (DAX Performance Index) is an index. At a correlation of -0.04, they often move in opposite directions.

Performance

BZ=F vs. ^GDAXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brent Crude Oil Last Day Financial Futures (BZ=F) and DAX Performance Index (^GDAXI). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BZ=F is traded in USD, while ^GDAXI is traded in EUR. To make them comparable, the ^GDAXI values have been converted to USD using the latest available exchange rates.

Returns By Period

BZ=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

^GDAXI

• 1D: 0.00%
• 1M: -0.50%
• YTD: -0.14%
• 6M: 0.09%
• 1Y: 6.66%
• 3Y*: 18.56%
• 5Y*: 9.09%
• 10Y*: 10.49%

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

BZ=F vs. ^GDAXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BZ=F Brent Crude Oil Last Day Financial Futures	0.00%	0.00%	0.00%	0.00%	20.59%
^GDAXI DAX Performance Index	-0.14%	38.87%	12.05%	24.11%	-12.76%

Correlation

The correlation between BZ=F and ^GDAXI is -0.04, 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 (All Time) Calculated using the full available price history since Jan 31, 2022	-0.04

Return for Risk

BZ=F vs. ^GDAXI — Risk / Return Rank

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

BZ=F

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

^GDAXI

^GDAXI Risk / Return Rank: 26
^GDAXI Sharpe Ratio Rank: 27
^GDAXI Sortino Ratio Rank: 23
^GDAXI Omega Ratio Rank: 24
^GDAXI Calmar Ratio Rank: 26
^GDAXI Martin Ratio Rank: 29

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.

BZ=F vs. ^GDAXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brent Crude Oil Last Day Financial Futures (BZ=F) and DAX Performance Index (^GDAXI). 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.

	BZ=F	^GDAXI	Difference
Sharpe ratio: Return per unit of total volatility	—	0.38	—
Sortino ratio: Return per unit of downside risk	—	0.67	—
Omega ratio: Gain probability vs. loss probability	—	1.08	—
Calmar ratio: Return relative to maximum drawdown	—	0.46	—
Martin ratio: Return relative to average drawdown	—	1.44	—

Drawdowns

Drawdown Indicators

	BZ=F	^GDAXI	Difference
Max Drawdown Largest peak-to-trough decline	—	-60.99%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.36%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.41%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.80%	—
Current Drawdown Current decline from peak	—	-4.15%	—
Average Drawdown Average peak-to-trough decline	—	-14.87%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.63%	—

Volatility

Volatility by Period

	BZ=F	^GDAXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.76%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	17.48%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	20.27%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	20.25%	—

Frequently Asked Questions

Can I hold both BZ=F and ^GDAXI in my portfolio?

BZ=F and ^GDAXI have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.