CIRC.MI vs. ^VIX
CIRC.MI (Circle S.p.A.) is a stock, while ^VIX (CBOE Volatility Index) is an index. Over the past 5 years, CIRC.MI returned 31.34%/yr vs -0.35%/yr for ^VIX. At a correlation of -0.09, they often move in opposite directions.
Performance
CIRC.MI vs. ^VIX - Performance Comparison
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Different Trading Currencies
CIRC.MI is traded in EUR, while ^VIX is traded in USD. To make them comparable, the ^VIX values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CIRC.MI achieves a 48.08% return, which is significantly higher than ^VIX's 4.20% return.
CIRC.MI
- 1D
- -1.98%
- 1M
- -9.85%
- YTD
- 48.08%
- 6M
- 49.52%
- 1Y
- 77.44%
- 3Y*
- 37.60%
- 5Y*
- 31.34%
- 10Y*
- —
^VIX
- 1D
- -4.23%
- 1M
- -10.41%
- YTD
- 4.20%
- 6M
- 0.18%
- 1Y
- -17.88%
- 3Y*
- -1.20%
- 5Y*
- -0.35%
- 10Y*
- 0.99%
CIRC.MI vs. ^VIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CIRC.MI Circle S.p.A. | 48.08% | 3.22% | 16.26% | 84.84% | -3.09% | 39.57% | -9.15% | 32.00% | 0.10% |
^VIX CBOE Volatility Index | 4.20% | -24.06% | 48.56% | -44.27% | 33.64% | -18.65% | 51.49% | -44.57% | 4.66% |
Correlation
The correlation between CIRC.MI and ^VIX is -0.03, 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 (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2018 | -0.09 |
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Return for Risk
CIRC.MI vs. ^VIX — Risk / Return Rank
CIRC.MI
^VIX
CIRC.MI vs. ^VIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Circle S.p.A. (CIRC.MI) and CBOE Volatility Index (^VIX). 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.
| CIRC.MI | ^VIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.85 | ||
| Sortino ratioReturn per unit of downside risk | +2.69 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.08 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 4.24 | -0.26 | +4.50 |
| Martin ratioReturn relative to average drawdown | 16.15 | -0.42 | +16.57 |
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
| CIRC.MI | ^VIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.73 | -0.12 | +2.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | -0.00 | +0.97 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.01 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | -0.02 | +0.79 |
Drawdowns
CIRC.MI vs. ^VIX - Drawdown Comparison
The maximum CIRC.MI drawdown since its inception was -39.39%, smaller than the maximum ^VIX drawdown of -88.32%. Use the drawdown chart below to compare losses from any high point for CIRC.MI and ^VIX.
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Drawdown Indicators
| CIRC.MI | ^VIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.39% | -88.32% | +48.93% |
Max Drawdown (1Y)Largest decline over 1 year | -18.75% | -51.28% | +32.53% |
Max Drawdown (3Y)Largest decline over 3 years | -39.39% | -76.07% | +36.68% |
Max Drawdown (5Y)Largest decline over 5 years | -39.39% | -76.07% | +36.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -85.23% | — |
Current DrawdownCurrent decline from peak | -18.75% | -82.08% | +63.33% |
Average DrawdownAverage peak-to-trough decline | -9.60% | -72.87% | +63.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.92% | 32.86% | -27.94% |
Volatility
CIRC.MI vs. ^VIX - Volatility Comparison
The current volatility for Circle S.p.A. (CIRC.MI) is 12.02%, while CBOE Volatility Index (^VIX) has a volatility of 16.02%. This indicates that CIRC.MI experiences smaller price fluctuations and is considered to be less risky than ^VIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIRC.MI | ^VIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.02% | 16.02% | -4.00% |
Volatility (6M)Calculated over the trailing 6-month period | 21.47% | 79.90% | -58.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.17% | 113.24% | -84.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.10% | 125.12% | -93.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.63% | 136.73% | -105.10% |
Frequently Asked Questions
CIRC.MI and ^VIX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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