CNYUSD=X vs. GOLDX

Last updated Jun 4, 2026

CNYUSD=X (CNY/USD) is a currency, while GOLDX (Gabelli Gold Fund) is Precious Metals fund managed by Gabelli. Over the past 10 years, CNYUSD=X returned -0.30%/yr vs 14.69%/yr for GOLDX. At a 0.17 correlation, their price movements are largely independent.

Performance

CNYUSD=X vs. GOLDX - Performance Comparison

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

Returns By Period

In the year-to-date period, CNYUSD=X achieves a 3.34% return, which is significantly higher than GOLDX's 2.61% return. Over the past 10 years, CNYUSD=X has underperformed GOLDX with an annualized return of -0.30%, while GOLDX has yielded a comparatively higher 14.69% annualized return.

CNYUSD=X

• 1D: -0.05%
• 1M: 0.94%
• YTD: 3.34%
• 6M: 4.39%
• 1Y: 6.21%
• 3Y*: 1.54%
• 5Y*: -1.12%
• 10Y*: -0.30%

GOLDX

• 1D: 1.53%
• 1M: 1.53%
• YTD: 2.61%
• 6M: 10.56%
• 1Y: 70.29%
• 3Y*: 46.09%
• 5Y*: 21.33%
• 10Y*: 14.69%

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

CNYUSD=X vs. GOLDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNYUSD=X CNY/USD	3.34%	4.38%	-2.76%	-2.80%	-7.92%	2.73%	6.69%	-1.24%	-5.34%	6.67%
GOLDX Gabelli Gold Fund	2.61%	165.59%	14.92%	7.85%	-11.02%	-8.97%	26.30%	43.94%	-14.80%	6.22%

Correlation

The correlation between CNYUSD=X and GOLDX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 28, 2007	0.17

The correlation between CNYUSD=X and GOLDX shifts across timeframes, from 0.14 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CNYUSD=X vs. GOLDX — Risk / Return Rank

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

CNYUSD=X

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

GOLDX

GOLDX Risk / Return Rank: 30
GOLDX Sharpe Ratio Rank: 34
GOLDX Sortino Ratio Rank: 24
GOLDX Omega Ratio Rank: 32
GOLDX Calmar Ratio Rank: 35
GOLDX Martin Ratio Rank: 24

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.

CNYUSD=X vs. GOLDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CNY/USD (CNYUSD=X) and Gabelli Gold Fund (GOLDX). 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.

	CNYUSD=X	GOLDX	Difference
Sharpe ratio Return per unit of total volatility	2.33	1.69	+0.64
Sortino ratio Return per unit of downside risk	3.74	2.05	+1.69
Omega ratio Gain probability vs. loss probability	1.52	1.30	+0.23
Calmar ratio Return relative to maximum drawdown	4.43	2.24	+2.19
Martin ratio Return relative to average drawdown	15.97	5.99	+9.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNYUSD=X vs. GOLDX - Sharpe Ratio Comparison

The current CNYUSD=X Sharpe Ratio is 2.33, which is higher than the GOLDX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of CNYUSD=X and GOLDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CNYUSD=X	GOLDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	1.69	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	0.66	-0.92
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.07	0.46	-0.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.23	-0.04

Drawdowns

CNYUSD=X vs. GOLDX - Drawdown Comparison

The maximum CNYUSD=X drawdown since its inception was -17.74%, smaller than the maximum GOLDX drawdown of -73.40%. Use the drawdown chart below to compare losses from any high point for CNYUSD=X and GOLDX.

Drawdown Indicators

	CNYUSD=X	GOLDX	Difference
Max Drawdown Largest peak-to-trough decline	-17.74%	-73.40%	+55.66%
Max Drawdown (1Y) Largest decline over 1 year	-1.12%	-31.96%	+30.84%
Max Drawdown (3Y) Largest decline over 3 years	-4.47%	-31.96%	+27.49%
Max Drawdown (5Y) Largest decline over 5 years	-14.09%	-44.73%	+30.64%
Max Drawdown (10Y) Largest decline over 10 years	-14.70%	-49.42%	+34.72%
Current Drawdown Current decline from peak	-10.73%	-24.80%	+14.07%
Average Drawdown Average peak-to-trough decline	-6.88%	-34.50%	+27.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.31%	11.90%	-11.59%

Volatility

CNYUSD=X vs. GOLDX - Volatility Comparison

The current volatility for CNY/USD (CNYUSD=X) is 0.57%, while Gabelli Gold Fund (GOLDX) has a volatility of 14.37%. This indicates that CNYUSD=X experiences smaller price fluctuations and is considered to be less risky than GOLDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNYUSD=X	GOLDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.57%	14.37%	-13.80%
Volatility (6M) Calculated over the trailing 6-month period	1.76%	35.55%	-33.79%
Volatility (1Y) Calculated over the trailing 1-year period	2.14%	42.62%	-40.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.94%	32.55%	-28.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.94%	32.11%	-28.17%

Frequently Asked Questions

Can I hold both CNYUSD=X and GOLDX in my portfolio?

CNYUSD=X and GOLDX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNYUSD=X or GOLDX?

GOLDX has higher volatility (14.37%) compared to CNYUSD=X (0.57%). In terms of maximum drawdown, CNYUSD=X dropped -17.74% vs GOLDX's -73.40%.

Which has better risk-adjusted returns?

CNYUSD=X currently has the higher Sharpe Ratio (2.33 vs 1.69), 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.