DGNX vs. XOP

Last updated Jun 4, 2026

DGNX (Diginex Ltd) is a stock, while XOP (SPDR S&P Oil & Gas Exploration & Production ETF) is Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry. Over the past year, DGNX returned -97.61% vs 41.73% for XOP. At a 0.06 correlation, their price movements are largely independent.

Performance

DGNX vs. XOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Diginex Ltd (DGNX) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGNX achieves a -96.70% return, which is significantly lower than XOP's 36.08% return.

DGNX

• 1D: -5.98%
• 1M: -40.54%
• YTD: -96.70%
• 6M: -98.62%
• 1Y: -97.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XOP

• 1D: 1.35%
• 1M: -5.46%
• YTD: 36.08%
• 6M: 26.81%
• 1Y: 41.73%
• 3Y*: 14.10%
• 5Y*: 14.86%
• 10Y*: 3.80%

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

DGNX vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025
DGNX Diginex Ltd	-96.70%	344.80%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	36.08%	-9.08%

Correlation

The correlation between DGNX and XOP is 0.06, 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	0.06
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.06

Return for Risk

DGNX vs. XOP — Risk / Return Rank

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

DGNX

DGNX Risk / Return Rank: 6
DGNX Sharpe Ratio Rank: 15
DGNX Sortino Ratio Rank: 2
DGNX Omega Ratio Rank: 4
DGNX Calmar Ratio Rank: 2
DGNX Martin Ratio Rank: 8

XOP

XOP Risk / Return Rank: 43
XOP Sharpe Ratio Rank: 42
XOP Sortino Ratio Rank: 38
XOP Omega Ratio Rank: 37
XOP Calmar Ratio Rank: 55
XOP Martin Ratio Rank: 43

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.

DGNX vs. XOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diginex Ltd (DGNX) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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.

	DGNX	XOP	Difference
Sharpe ratio Return per unit of total volatility	-0.60	1.51	-2.11
Sortino ratio Return per unit of downside risk	-2.06	2.00	-4.06
Omega ratio Gain probability vs. loss probability	0.77	1.25	-0.47
Calmar ratio Return relative to maximum drawdown	-0.98	2.77	-3.75
Martin ratio Return relative to average drawdown	-1.39	7.10	-8.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGNX vs. XOP - Sharpe Ratio Comparison

The current DGNX Sharpe Ratio is -0.60, which is lower than the XOP Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of DGNX and XOP, 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

	DGNX	XOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.60	1.51	-2.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.27	0.06	-0.34

Drawdowns

DGNX vs. XOP - Drawdown Comparison

The maximum DGNX drawdown since its inception was -99.63%, which is greater than XOP's maximum drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for DGNX and XOP.

Drawdown Indicators

	DGNX	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-99.63%	-90.27%	-9.36%
Max Drawdown (1Y) Largest decline over 1 year	-99.63%	-15.14%	-84.49%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-82.61%	—
Current Drawdown Current decline from peak	-99.56%	-36.40%	-63.16%
Average Drawdown Average peak-to-trough decline	-59.35%	-42.59%	-16.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	70.04%	5.90%	+64.14%

Volatility

DGNX vs. XOP - Volatility Comparison

Diginex Ltd (DGNX) has a higher volatility of 44.06% compared to SPDR S&P Oil & Gas Exploration & Production ETF (XOP) at 10.03%. This indicates that DGNX's price experiences larger fluctuations and is considered to be riskier than XOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGNX	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	44.06%	10.03%	+34.03%
Volatility (6M) Calculated over the trailing 6-month period	106.16%	21.64%	+84.52%
Volatility (1Y) Calculated over the trailing 1-year period	163.25%	27.81%	+135.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	276.80%	33.88%	+242.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	276.80%	40.28%	+236.52%

Dividends

DGNX vs. XOP - Dividend Comparison

DGNX has not paid dividends to shareholders, while XOP's dividend yield for the trailing twelve months is around 1.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGNX Diginex Ltd	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	1.90%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Frequently Asked Questions

Can I hold both DGNX and XOP in my portfolio?

DGNX and XOP have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGNX or XOP?

DGNX has higher volatility (44.06%) compared to XOP (10.03%). In terms of maximum drawdown, DGNX dropped -99.63% vs XOP's -90.27%.

Which has better risk-adjusted returns?

XOP currently has the higher Sharpe Ratio (1.51 vs -0.60), 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.