CAJPY vs. EWJ
CAJPY (Canon Inc.) is a stock, while EWJ (iShares MSCI Japan ETF) is Japan Equities fund tracking the MSCI Japan Index. Over the past 10 years, CAJPY returned 1.56%/yr vs 9.06%/yr for EWJ. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
CAJPY vs. EWJ - Performance Comparison
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Returns By Period
In the year-to-date period, CAJPY achieves a -9.81% return, which is significantly lower than EWJ's 15.46% return. Over the past 10 years, CAJPY has underperformed EWJ with an annualized return of 1.56%, while EWJ has yielded a comparatively higher 9.06% annualized return.
CAJPY
- 1D
- -1.59%
- 1M
- -1.00%
- 6M
- -12.10%
- YTD
- -9.81%
- 1Y
- -2.54%
- 3Y*
- 2.21%
- 5Y*
- 5.04%
- 10Y*
- 1.56%
EWJ
- 1D
- -1.94%
- 1M
- 0.55%
- 6M
- 9.30%
- YTD
- 15.46%
- 1Y
- 33.65%
- 3Y*
- 17.46%
- 5Y*
- 8.72%
- 10Y*
- 9.06%
CAJPY vs. EWJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAJPY Canon Inc. | -9.81% | -7.51% | 29.28% | 20.27% | -7.62% | 30.42% | -26.31% | -0.91% | -26.20% | 35.57% |
EWJ iShares MSCI Japan ETF | 15.46% | 25.84% | 7.03% | 20.29% | -17.72% | 1.16% | 15.40% | 19.34% | -14.10% | 24.27% |
Correlation
The correlation between CAJPY and EWJ is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996 | 0.58 |
The correlation between CAJPY and EWJ has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.
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Return for Risk
CAJPY vs. EWJ — Risk / Return Rank
CAJPY
EWJ
CAJPY vs. EWJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canon Inc. (CAJPY) and iShares MSCI Japan ETF (EWJ). 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.
| CAJPY | EWJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.30 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 2.49 | -2.60 |
| Martin ratioReturn relative to average drawdown | -0.25 | 8.33 | -8.58 |
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Drawdowns
CAJPY vs. EWJ - Drawdown Comparison
The maximum CAJPY drawdown since its inception was -68.72%, which is greater than EWJ's maximum drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for CAJPY and EWJ.
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Drawdown Indicators
| CAJPY | EWJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.72% | -60.93% | -7.79% |
Max Drawdown (1Y)Largest decline over 1 year | -22.23% | -13.59% | -8.64% |
Max Drawdown (3Y)Largest decline over 3 years | -25.93% | -14.68% | -11.25% |
Max Drawdown (5Y)Largest decline over 5 years | -25.93% | -33.14% | +7.21% |
Max Drawdown (10Y)Largest decline over 10 years | -60.76% | -33.14% | -27.62% |
Current DrawdownCurrent decline from peak | -23.53% | -4.38% | -19.15% |
Average DrawdownAverage peak-to-trough decline | -20.45% | -21.67% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.37% | 4.05% | +6.32% |
Volatility
CAJPY vs. EWJ - Volatility Comparison
The current volatility for Canon Inc. (CAJPY) is 6.71%, while iShares MSCI Japan ETF (EWJ) has a volatility of 7.67%. This indicates that CAJPY experiences smaller price fluctuations and is considered to be less risky than EWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAJPY | EWJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.71% | 7.67% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 18.70% | 17.04% | +1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.44% | 20.80% | +3.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.66% | 18.54% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.23% | 17.35% | +5.88% |
Dividends
CAJPY vs. EWJ - Dividend Comparison
CAJPY has not paid dividends to shareholders, while EWJ's dividend yield for the trailing twelve months is around 3.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAJPY Canon Inc. | 0.00% | 1.83% | 1.64% | 1.85% | 4.15% | 3.51% | 3.92% | 0.00% | 0.00% | 1.83% | 5.03% | 4.30% |
EWJ iShares MSCI Japan ETF | 3.84% | 4.52% | 2.34% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% |
Frequently Asked Questions
CAJPY and EWJ have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWJ has higher volatility (7.67%) compared to CAJPY (6.71%). In terms of maximum drawdown, CAJPY dropped -68.72% vs EWJ's -60.93%.
EWJ currently has the higher Sharpe Ratio (1.63 vs -0.10), 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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