CNY=X vs. CNYUSD=X

Last updated Apr 3, 2026

Compare and contrast key facts about USD/CNY (CNY=X) and CNY/USD (CNYUSD=X).

Performance

CNY=X vs. CNYUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a CN¥10,000 investment in USD/CNY (CNY=X) and CNY/USD (CNYUSD=X). The values are adjusted to include any dividend payments, if applicable.

CNY=X vs. CNYUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNY=X USD/CNY	-1.60%	-4.20%	2.84%	2.90%	8.58%	-2.65%	-6.27%	1.26%	5.67%	-6.29%
CNYUSD=X CNY/USD	0.02%	0.00%	-0.00%	0.02%	-0.02%	0.01%	-0.01%	0.00%	0.03%	-0.04%

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

In the year-to-date period, CNY=X achieves a -1.60% return, which is significantly lower than CNYUSD=X's 0.02% return.

CNY=X

• 1D: 0.13%
• 1M: -0.27%
• YTD: -1.60%
• 6M: -3.34%
• 1Y: -5.32%
• 3Y*: 0.02%
• 5Y*: 0.94%
• 10Y*: 0.61%

CNYUSD=X

• 1D: 0.02%
• 1M: 0.02%
• YTD: 0.02%
• 6M: 0.02%
• 1Y: 0.02%
• 3Y*: 0.01%
• 5Y*: 0.00%
• 10Y*: 0.00%

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

Return for Risk

CNY=X vs. CNYUSD=X — Risk / Return Rank

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

CNY=X

CNY=X Risk / Return Rank: 4
CNY=X Sharpe Ratio Rank: 1
CNY=X Sortino Ratio Rank: 2
CNY=X Omega Ratio Rank: 1
CNY=X Calmar Ratio Rank: 10
CNY=X Martin Ratio Rank: 5

CNYUSD=X

CNYUSD=X Risk / Return Rank: 98
CNYUSD=X Sharpe Ratio Rank: 99
CNYUSD=X Sortino Ratio Rank: 99
CNYUSD=X Omega Ratio Rank: 99
CNYUSD=X Calmar Ratio Rank: 96
CNYUSD=X Martin Ratio Rank: 98

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.

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 ratio Return per unit of total volatility	-1.84	0.01	-1.85
Sortino ratio Return per unit of downside risk	-2.32	0.03	-2.35
Omega ratio Gain probability vs. loss probability	0.70	1.01	-0.31
Calmar ratio Return relative to maximum drawdown	-0.79	0.10	-0.89
Martin ratio Return relative to average drawdown	-1.62	0.35	-1.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNY=X vs. CNYUSD=X - Sharpe Ratio Comparison

The current CNY=X Sharpe Ratio is -1.84, which is lower than the CNYUSD=X Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of CNY=X and CNYUSD=X, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CNY=X	CNYUSD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.84	0.01	-1.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.00	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.01	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	-0.18	-0.01	-0.18

Correlation

The correlation between CNY=X and CNYUSD=X is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

CNY=X vs. CNYUSD=X - Drawdown Comparison

The maximum CNY=X drawdown since its inception was -21.90%, 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.

Drawdown Indicators

	CNY=X	CNYUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-21.90%	-17.74%	-4.16%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-1.12%	-5.81%
Max Drawdown (5Y) Largest decline over 5 years	-8.23%	-14.09%	+5.86%
Max Drawdown (10Y) Largest decline over 10 years	-12.12%	-14.70%	+2.58%
Current Drawdown Current decline from peak	-11.04%	-12.19%	+1.15%
Average Drawdown Average peak-to-trough decline	-13.01%	-6.76%	-6.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	0.33%	+2.18%

Volatility

CNY=X vs. CNYUSD=X - Volatility Comparison

USD/CNY (CNY=X) has a higher volatility of 1.11% compared to CNY/USD (CNYUSD=X) at 0.10%. 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.

Volatility by Period

	CNY=X	CNYUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	0.10%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	1.60%	0.33%	+1.27%
Volatility (1Y) Calculated over the trailing 1-year period	2.34%	1.56%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.91%	0.82%	+3.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.92%	0.68%	+3.24%