CNY=X vs. CNYUSD=X
CNY=X (USD/CNY) and CNYUSD=X (CNY/USD) are both currencies. Over the past 10 years, CNY=X returned 0.29%/yr vs 0.00%/yr for CNYUSD=X. At a 0.04 correlation, their price movements are largely independent.
Performance
CNY=X vs. CNYUSD=X - Performance Comparison
Loading charts...
Different Trading Currencies
CNY=X is traded in CNY, while CNYUSD=X is traded in USD. To make them comparable, the CNYUSD=X values have been converted to CNY using the latest available exchange rates.
Returns By Period
CNY=X
- 1D
- -0.12%
- 1M
- -0.67%
- YTD
- -3.25%
- 6M
- -4.31%
- 1Y
- -5.71%
- 3Y*
- -1.68%
- 5Y*
- 1.13%
- 10Y*
- 0.29%
CNYUSD=X
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 0.00%
- 3Y*
- 0.00%
- 5Y*
- 0.00%
- 10Y*
- 0.00%
CNY=X vs. CNYUSD=X - Yearly Performance Comparison
Correlation
The correlation between CNY=X and CNYUSD=X is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2007 | 0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CNY=X vs. CNYUSD=X — Risk / Return Rank
CNY=X
CNYUSD=X
CNY=X vs. CNYUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USD/CNY (CNY=X) and CNY/USD (CNYUSD=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.
| CNY=X | CNYUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.17 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 0.67 | 1.00 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 0.02 | -0.76 |
| Martin ratioReturn relative to average drawdown | -1.43 | 0.05 | -1.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CNY=X | CNYUSD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -2.17 | 0.01 | -2.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.00 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | 0.00 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.19 | 0.02 | -0.21 |
Drawdowns
CNY=X vs. CNYUSD=X - Drawdown Comparison
The maximum CNY=X drawdown since its inception was -20.69%, which is greater than CNYUSD=X's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for CNY=X and CNYUSD=X.
Loading charts...
Drawdown Indicators
| CNY=X | CNYUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.69% | -1.50% | -19.19% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -0.21% | -6.02% |
Max Drawdown (3Y)Largest decline over 3 years | -8.00% | -1.30% | -6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -8.23% | -1.30% | -6.93% |
Max Drawdown (10Y)Largest decline over 10 years | -12.12% | -1.30% | -10.82% |
Current DrawdownCurrent decline from peak | -11.17% | -1.15% | -10.02% |
Average DrawdownAverage peak-to-trough decline | -11.79% | -0.79% | -11.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 0.05% | +3.25% |
Volatility
CNY=X vs. CNYUSD=X - Volatility Comparison
USD/CNY (CNY=X) has a higher volatility of 0.65% compared to CNY/USD (CNYUSD=X) at 0.21%. This indicates that CNY=X's price experiences larger fluctuations and is considered to be riskier than CNYUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CNY=X | CNYUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.21% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 0.32% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.13% | 0.48% | +1.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.88% | 0.83% | +3.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.92% | 0.68% | +3.24% |
Frequently Asked Questions
CNY=X and CNYUSD=X have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNY=X has higher volatility (0.65%) compared to CNYUSD=X (0.21%). In terms of maximum drawdown, CNY=X dropped -20.69% vs CNYUSD=X's -1.50%.
CNYUSD=X currently has the higher Sharpe Ratio (0.01 vs -2.17), 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.
Find the right allocation for CNY=X and CNYUSD=X
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer