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EUR=X vs. ^GSPC
Performance
Return for Risk
Drawdowns
Volatility

EUR=X vs. ^GSPC

Last updated Aug 5, 2026
Documentation

EUR=X (USD/EUR) is a currency, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, EUR=X returned -0.40%/yr vs 13.07%/yr for ^GSPC. Their 0.28 correlation means their historical movements had little consistent relationship.

Performance

EUR=X vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in USD/EUR (EUR=X) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

EUR=X is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, EUR=X achieves a 1.86% return, which is significantly lower than ^GSPC's 15.41% return. Over the past 10 years, EUR=X has underperformed ^GSPC with an annualized return of -0.40%, while ^GSPC has yielded a comparatively higher 13.07% annualized return.

EUR=X

1D
-0.17%
1M
-0.85%
6M
2.47%
YTD
1.86%
1Y
0.32%
3Y*
-1.53%
5Y*
0.52%
10Y*
-0.40%
ALL TIME*
1.25%

^GSPC

1D
1.79%
1M
2.77%
6M
14.89%
YTD
15.41%
1Y
22.92%
3Y*
18.25%
5Y*
12.44%
10Y*
13.07%
ALL TIME*
10.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

^GSPC

S&P 500 Index
€33.66T€33.05T€35.99T

EUR=X

USD/EUR
€50.81K€37.65K€38.82K

EUR=X vs. ^GSPC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EUR=X
USD/EUR		1.86%-11.87%6.60%-3.00%6.20%7.48%-8.24%2.26%4.69%-12.29%
^GSPC
S&P 500 Index		15.11%2.58%31.45%20.51%-14.45%36.38%6.68%31.79%-1.84%4.74%

Correlation

The correlation between EUR=X and ^GSPC is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.09

Correlation (3Y)
Balances recent behavior with more history.

0.24

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.17

Correlation (10Y)
Provides a long-term view across more market conditions.

0.29

Correlation (All Time)
Calculated using the full available price history since Nov 7, 2007

0.28

The correlation between EUR=X and ^GSPC shifts across timeframes, from 0.09 (1 year) to 0.29 (10 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

USD/EUR

S&P 500 Index

Often compared with EUR=X:
EUR=X vs. USD=XEUR=X vs. ^STOXXEUR=X vs. GBP=XEUR=X vs. GLDEUR=X vs. USDXEUR=X vs. QQQEUR=X vs. TLT
Often compared with ^GSPC:
^GSPC vs. ^IBEX^GSPC vs. AVGO^GSPC vs. SCHD^GSPC vs. QQQ^GSPC vs. GC=F^GSPC vs. ACWI^GSPC vs. TSMU

Return for Risk

EUR=X vs. ^GSPC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EUR=X
EUR=X Risk / Return Rank: 5151
Overall Rank
EUR=X Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
EUR=X Sortino Ratio Rank: 5050
Sortino Ratio Rank
EUR=X Omega Ratio Rank: 5151
Omega Ratio Rank
EUR=X Calmar Ratio Rank: 5151
Calmar Ratio Rank
EUR=X Martin Ratio Rank: 5353
Martin Ratio Rank
^GSPC
^GSPC Risk / Return Rank: 7474
Overall Rank
^GSPC Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
^GSPC Sortino Ratio Rank: 7070
Sortino Ratio Rank
^GSPC Omega Ratio Rank: 7373
Omega Ratio Rank
^GSPC Calmar Ratio Rank: 6969
Calmar Ratio Rank
^GSPC Martin Ratio Rank: 8686
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EUR=X vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD/EUR (EUR=X) and S&P 500 Index (^GSPC). 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.

EUR=X^GSPCDifference
Sharpe ratioReturn per unit of total volatility
0.05
1.84

-1.79

Sortino ratioReturn per unit of downside risk
0.10
2.44

-2.34

Omega ratioGain probability vs. loss probability

1.01

1.34

-0.32

Calmar ratioReturn relative to maximum drawdown

0.06

3.04

-2.99

Martin ratioReturn relative to average drawdown

0.15

11.28

-11.13

EUR=X vs. ^GSPC - Sharpe Ratio Comparison

The current EUR=X Sharpe Ratio is 0.05, which is lower than the ^GSPC Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of EUR=X and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EUR=X vs. ^GSPC - Drawdown Comparison

The maximum EUR=X drawdown since its inception was -20.32%, smaller than the maximum ^GSPC drawdown of -48.59%. Use the drawdown chart below to compare losses from any high point for EUR=X and ^GSPC.

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Drawdown Indicators

EUR=X^GSPCDifference

Max Drawdown

Largest peak-to-trough decline

-20.32%

-48.59%

+28.27%

Max Drawdown (1Y)

Largest decline over 1 year

-4.65%

-7.57%

+2.92%

Max Drawdown (3Y)

Largest decline over 3 years

-15.23%

-23.99%

+8.76%

Max Drawdown (5Y)

Largest decline over 5 years

-20.32%

-23.99%

+3.67%

Max Drawdown (10Y)

Largest decline over 10 years

-20.32%

-33.42%

+13.10%

Current Drawdown

Current decline from peak

-16.80%

0.00%

-16.80%

Average Drawdown

Average peak-to-trough decline

-9.48%

-7.93%

-1.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.78%

2.04%

-0.26%

Volatility

EUR=X vs. ^GSPC - Volatility Comparison

The current volatility for USD/EUR (EUR=X) is 1.22%, while S&P 500 Index (^GSPC) has a volatility of 4.14%. This indicates that EUR=X experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EUR=X^GSPCDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.22%

4.14%

-2.92%

Volatility (6M)

Calculated over the trailing 6-month period

3.63%

9.10%

-5.47%

Volatility (1Y)

Calculated over the trailing 1-year period

5.34%

12.61%

-7.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.30%

16.89%

-9.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.10%

18.63%

-11.53%

Frequently Asked Questions

EUR=X and ^GSPC have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

^GSPC has higher volatility (4.14%) compared to EUR=X (1.22%). In terms of maximum drawdown, EUR=X dropped -20.32% vs ^GSPC's -48.59%.

^GSPC currently has the higher Sharpe Ratio (1.84 vs 0.05), 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.

Portfolio Optimizer

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