CNYUSD=X vs. GLD
CNYUSD=X (CNY/USD) is a currency, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 10 years, CNYUSD=X returned -0.26%/yr vs 11.59%/yr for GLD. At a 0.17 correlation, their price movements are largely independent.
Performance
CNYUSD=X vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, CNYUSD=X achieves a 3.03% return, which is significantly higher than GLD's -4.79% return. Over the past 10 years, CNYUSD=X has underperformed GLD with an annualized return of -0.26%, while GLD has yielded a comparatively higher 11.59% annualized return.
CNYUSD=X
- 1D
- -0.09%
- 1M
- -0.14%
- YTD
- 3.03%
- 6M
- 3.54%
- 1Y
- 5.77%
- 3Y*
- 1.88%
- 5Y*
- -0.95%
- 10Y*
- -0.26%
GLD
- 1D
- -1.89%
- 1M
- -8.82%
- YTD
- -4.79%
- 6M
- -8.78%
- 1Y
- 21.29%
- 3Y*
- 28.41%
- 5Y*
- 17.84%
- 10Y*
- 11.59%
CNYUSD=X vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNYUSD=X CNY/USD | 3.03% | 4.38% | -2.76% | -2.80% | -7.92% | 2.73% | 6.69% | -1.24% | -5.34% | 6.67% |
GLD SPDR Gold Shares | -4.79% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between CNYUSD=X and GLD is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2007 | 0.17 |
The correlation between CNYUSD=X and GLD shifts across timeframes, from 0.05 (1 year) to 0.26 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CNYUSD=X vs. GLD — Risk / Return Rank
CNYUSD=X
GLD
CNYUSD=X vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CNY/USD (CNYUSD=X) and SPDR Gold Shares (GLD). 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.
| CNYUSD=X | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +2.41 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.17 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 4.11 | 0.87 | +3.24 |
| Martin ratioReturn relative to average drawdown | 14.80 | 2.35 | +12.46 |
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Drawdowns
CNYUSD=X vs. GLD - Drawdown Comparison
The maximum CNYUSD=X drawdown since its inception was -17.74%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for CNYUSD=X and GLD.
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Drawdown Indicators
| CNYUSD=X | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.74% | -45.56% | +27.82% |
Max Drawdown (1Y)Largest decline over 1 year | -1.12% | -24.46% | +23.34% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | -24.46% | +19.99% |
Max Drawdown (5Y)Largest decline over 5 years | -14.09% | -24.46% | +10.37% |
Max Drawdown (10Y)Largest decline over 10 years | -14.70% | -24.46% | +9.76% |
Current DrawdownCurrent decline from peak | -11.00% | -23.91% | +12.91% |
Average DrawdownAverage peak-to-trough decline | -6.92% | -16.17% | +9.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 9.10% | -8.78% |
Volatility
CNYUSD=X vs. GLD - Volatility Comparison
The current volatility for CNY/USD (CNYUSD=X) is 0.46%, while SPDR Gold Shares (GLD) has a volatility of 8.18%. This indicates that CNYUSD=X experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNYUSD=X | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 8.18% | -7.72% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 24.38% | -22.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.09% | 27.57% | -25.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 18.24% | -14.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 16.04% | -12.11% |
Frequently Asked Questions
CNYUSD=X and GLD have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.18%) compared to CNYUSD=X (0.46%). In terms of maximum drawdown, CNYUSD=X dropped -17.74% vs GLD's -45.56%.
CNYUSD=X currently has the higher Sharpe Ratio (2.21 vs 0.78), 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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