DAX vs. AUDUSD=X
DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index, while AUDUSD=X (AUD/USD) is a currency. Over the past 10 years, DAX returned 9.07%/yr vs -0.63%/yr for AUDUSD=X. At a 0.45 correlation, their price movements are largely independent.
Performance
DAX vs. AUDUSD=X - Performance Comparison
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Returns By Period
In the year-to-date period, DAX achieves a -2.21% return, which is significantly lower than AUDUSD=X's 4.93% return. Over the past 10 years, DAX has outperformed AUDUSD=X with an annualized return of 9.07%, while AUDUSD=X has yielded a comparatively lower -0.63% annualized return.
DAX
- 1D
- -0.16%
- 1M
- -1.66%
- 6M
- -4.43%
- YTD
- -2.21%
- 1Y
- -0.30%
- 3Y*
- 15.55%
- 5Y*
- 8.39%
- 10Y*
- 9.07%
- ALL TIME*
- 7.28%
AUDUSD=X
- 1D
- 0.12%
- 1M
- -0.12%
- 6M
- 4.29%
- YTD
- 4.93%
- 1Y
- 7.52%
- 3Y*
- 1.34%
- 5Y*
- -0.98%
- 10Y*
- -0.63%
- ALL TIME*
- -0.74%
DAX vs. AUDUSD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DAX Global X DAX Germany ETF | -2.21% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
AUDUSD=X AUD/USD | 4.93% | 7.81% | -9.12% | -0.06% | -6.27% | -5.58% | 9.75% | -0.37% | -9.73% | 8.36% |
Correlation
The correlation between DAX and AUDUSD=X is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | 0.45 |
The correlation between DAX and AUDUSD=X has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.
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Return for Risk
DAX vs. AUDUSD=X — Risk / Return Rank
DAX
AUDUSD=X
DAX vs. AUDUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X DAX Germany ETF (DAX) and AUD/USD (AUDUSD=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.
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.
| DAX | AUDUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.15 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.17 | -1.19 |
| Martin ratioReturn relative to average drawdown | -0.06 | 2.88 | -2.94 |
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Drawdowns
DAX vs. AUDUSD=X - Drawdown Comparison
The maximum DAX drawdown since its inception was -45.58%, roughly equal to the maximum AUDUSD=X drawdown of -47.87%. Use the drawdown chart below to compare losses from any high point for DAX and AUDUSD=X.
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Drawdown Indicators
| DAX | AUDUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.58% | -47.87% | +2.29% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | -5.12% | -9.70% |
Max Drawdown (3Y)Largest decline over 3 years | -16.03% | -13.83% | -2.20% |
Max Drawdown (5Y)Largest decline over 5 years | -38.92% | -21.39% | -17.53% |
Max Drawdown (10Y)Largest decline over 10 years | -45.58% | -29.18% | -16.40% |
Current DrawdownCurrent decline from peak | -6.12% | -36.44% | +30.32% |
Average DrawdownAverage peak-to-trough decline | -10.45% | -26.06% | +15.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.99% | 2.02% | +2.97% |
Volatility
DAX vs. AUDUSD=X - Volatility Comparison
Global X DAX Germany ETF (DAX) has a higher volatility of 4.69% compared to AUD/USD (AUDUSD=X) at 1.44%. This indicates that DAX's price experiences larger fluctuations and is considered to be riskier than AUDUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DAX | AUDUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 1.44% | +3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 15.31% | 6.03% | +9.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.04% | 7.45% | +10.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.41% | 10.03% | +10.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.91% | 9.57% | +11.34% |
Frequently Asked Questions
DAX and AUDUSD=X have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAX has higher volatility (4.69%) compared to AUDUSD=X (1.44%). In terms of maximum drawdown, DAX dropped -45.58% vs AUDUSD=X's -47.87%.
AUDUSD=X currently has the higher Sharpe Ratio (0.81 vs -0.02), 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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