DAX vs. JPYUSD=X
DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index, while JPYUSD=X (JPY/USD) is a currency. Over the past 10 years, DAX returned 9.07%/yr vs -4.16%/yr for JPYUSD=X. At a correlation of -0.02, they often move in opposite directions.
Performance
DAX vs. JPYUSD=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 higher than JPYUSD=X's -3.56% return. Over the past 10 years, DAX has outperformed JPYUSD=X with an annualized return of 9.07%, while JPYUSD=X has yielded a comparatively lower -4.16% 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%
JPYUSD=X
- 1D
- -0.08%
- 1M
- -0.70%
- 6M
- -2.66%
- YTD
- -3.56%
- 1Y
- -8.63%
- 3Y*
- -4.43%
- 5Y*
- -7.45%
- 10Y*
- -4.16%
- ALL TIME*
- -1.72%
DAX vs. JPYUSD=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% |
JPYUSD=X JPY/USD | -3.56% | 0.33% | -10.26% | -7.04% | -12.23% | -10.24% | 5.18% | 0.86% | 2.82% | 3.91% |
Correlation
The correlation between DAX and JPYUSD=X is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | -0.02 |
The correlation between DAX and JPYUSD=X shifts across timeframes, from -0.02 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DAX vs. JPYUSD=X — Risk / Return Rank
DAX
JPYUSD=X
DAX vs. JPYUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X DAX Germany ETF (DAX) and JPY/USD (JPYUSD=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 | JPYUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.84 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | -0.71 | +0.69 |
| Martin ratioReturn relative to average drawdown | -0.06 | -1.11 | +1.05 |
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Drawdowns
DAX vs. JPYUSD=X - Drawdown Comparison
The maximum DAX drawdown since its inception was -45.58%, smaller than the maximum JPYUSD=X drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for DAX and JPYUSD=X.
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Drawdown Indicators
| DAX | JPYUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.58% | -53.20% | +7.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | -9.90% | -4.92% |
Max Drawdown (3Y)Largest decline over 3 years | -16.03% | -14.17% | -1.86% |
Max Drawdown (5Y)Largest decline over 5 years | -38.92% | -32.94% | -5.98% |
Max Drawdown (10Y)Largest decline over 10 years | -45.58% | -38.53% | -7.05% |
Current DrawdownCurrent decline from peak | -6.12% | -53.17% | +47.05% |
Average DrawdownAverage peak-to-trough decline | -10.45% | -27.24% | +16.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.99% | 6.64% | -1.65% |
Volatility
DAX vs. JPYUSD=X - Volatility Comparison
Global X DAX Germany ETF (DAX) has a higher volatility of 4.69% compared to JPY/USD (JPYUSD=X) at 1.24%. This indicates that DAX's price experiences larger fluctuations and is considered to be riskier than JPYUSD=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 | JPYUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 1.24% | +3.45% |
Volatility (6M)Calculated over the trailing 6-month period | 15.31% | 4.40% | +10.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.04% | 7.27% | +10.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.41% | 9.53% | +10.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.91% | 8.68% | +12.23% |
Frequently Asked Questions
DAX and JPYUSD=X have a correlation of 0.31, 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 JPYUSD=X (1.24%). In terms of maximum drawdown, DAX dropped -45.58% vs JPYUSD=X's -53.20%.
DAX currently has the higher Sharpe Ratio (-0.02 vs -0.96), 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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