EURUSD=X vs. ^GDAXI
EURUSD=X (Euro / U.S. Dollar) is a currency, while ^GDAXI (DAX Performance Index) is an index. Over the past 10 years, EURUSD=X returned 0.40%/yr vs 10.04%/yr for ^GDAXI. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
EURUSD=X vs. ^GDAXI - Performance Comparison
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Different Trading Currencies
EURUSD=X is traded in USD, while ^GDAXI is traded in EUR. To make them comparable, the ^GDAXI values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EURUSD=X achieves a -1.83% return, which is significantly lower than ^GDAXI's 4.00% return. Over the past 10 years, EURUSD=X has underperformed ^GDAXI with an annualized return of 0.40%, while ^GDAXI has yielded a comparatively higher 10.04% annualized return.
EURUSD=X
- 1D
- 0.20%
- 1M
- 0.88%
- 6M
- -2.43%
- YTD
- -1.83%
- 1Y
- -0.36%
- 3Y*
- 1.56%
- 5Y*
- -0.51%
- 10Y*
- 0.40%
- ALL TIME*
- -0.90%
^GDAXI
- 1D
- 0.00%
- 1M
- 1.49%
- 6M
- 2.18%
- YTD
- 4.00%
- 1Y
- 8.84%
- 3Y*
- 19.44%
- 5Y*
- 9.94%
- 10Y*
- 10.04%
- ALL TIME*
- 5.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^GDAXI DAX Performance Index | $1.51T | $1.46T | $1.73T |
EURUSD=X Euro / U.S. Dollar | $110.05K | $130.91K | $141.40K |
EURUSD=X vs. ^GDAXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EURUSD=X Euro / U.S. Dollar | -1.83% | 13.43% | -6.18% | 3.16% | -6.01% | -6.81% | 8.85% | -1.94% | -4.66% | 14.14% |
^GDAXI DAX Performance Index | 4.00% | 38.87% | 12.05% | 24.11% | -17.17% | 6.66% | 13.66% | 22.83% | -22.10% | 28.42% |
Correlation
The correlation between EURUSD=X and ^GDAXI is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2007 | 0.45 |
The correlation between EURUSD=X and ^GDAXI has been stable across timeframes, ranging from 0.42 to 0.51 - a consistent structural relationship.
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Return for Risk
EURUSD=X vs. ^GDAXI — Risk / Return Rank
EURUSD=X
^GDAXI
EURUSD=X vs. ^GDAXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Euro / U.S. Dollar (EURUSD=X) and DAX Performance Index (^GDAXI). 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.
| EURUSD=X | ^GDAXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.10 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.61 | -0.66 |
| Martin ratioReturn relative to average drawdown | -0.10 | 1.89 | -1.99 |
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Drawdowns
EURUSD=X vs. ^GDAXI - Drawdown Comparison
The maximum EURUSD=X drawdown since its inception was -40.01%, smaller than the maximum ^GDAXI drawdown of -60.99%. Use the drawdown chart below to compare losses from any high point for EURUSD=X and ^GDAXI.
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Drawdown Indicators
| EURUSD=X | ^GDAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.01% | -60.99% | +20.98% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -14.36% | +8.69% |
Max Drawdown (3Y)Largest decline over 3 years | -8.48% | -15.86% | +7.38% |
Max Drawdown (5Y)Largest decline over 5 years | -19.24% | -38.41% | +19.17% |
Max Drawdown (10Y)Largest decline over 10 years | -23.31% | -44.80% | +21.49% |
Current DrawdownCurrent decline from peak | -27.89% | -0.17% | -27.72% |
Average DrawdownAverage peak-to-trough decline | -23.69% | -14.85% | -8.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 4.67% | -1.61% |
Volatility
EURUSD=X vs. ^GDAXI - Volatility Comparison
The current volatility for Euro / U.S. Dollar (EURUSD=X) is 1.27%, while DAX Performance Index (^GDAXI) has a volatility of 4.57%. This indicates that EURUSD=X experiences smaller price fluctuations and is considered to be less risky than ^GDAXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EURUSD=X | ^GDAXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 4.57% | -3.30% |
Volatility (6M)Calculated over the trailing 6-month period | 3.72% | 15.13% | -11.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.40% | 17.72% | -12.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.39% | 20.31% | -12.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.07% | 20.19% | -13.12% |
Frequently Asked Questions
EURUSD=X and ^GDAXI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^GDAXI has higher volatility (4.57%) compared to EURUSD=X (1.27%). In terms of maximum drawdown, EURUSD=X dropped -40.01% vs ^GDAXI's -60.99%.
^GDAXI currently has the higher Sharpe Ratio (0.50 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.
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