EURUSD=X vs. ^STOXX

Last updated Aug 5, 2026

EURUSD=X (Euro / U.S. Dollar) is a currency, while ^STOXX (STOXX Europe 600 Index) is an index. Over the past 10 years, EURUSD=X returned 0.40%/yr vs 7.09%/yr for ^STOXX. Their 0.47 correlation means their historical movements had little consistent relationship.

Performance

EURUSD=X vs. ^STOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Euro / U.S. Dollar (EURUSD=X) and STOXX Europe 600 Index (^STOXX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EURUSD=X is traded in USD, while ^STOXX is traded in EUR. To make them comparable, the ^STOXX 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 ^STOXX's 7.76% return. Over the past 10 years, EURUSD=X has underperformed ^STOXX with an annualized return of 0.40%, while ^STOXX has yielded a comparatively higher 7.09% 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%

^STOXX

• 1D: 0.25%
• 1M: 0.51%
• 6M: 2.76%
• YTD: 7.76%
• 1Y: 19.95%
• 3Y*: 14.07%
• 5Y*: 6.25%
• 10Y*: 7.09%
• ALL TIME*: 1.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
^STOXX STOXX Europe 600 Index	$140.46B	$126.61B	$141.60B
EURUSD=X Euro / U.S. Dollar	$110.05K	$130.91K	$141.40K

EURUSD=X vs. ^STOXX - 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%
^STOXX STOXX Europe 600 Index	7.76%	32.56%	-0.63%	16.30%	-17.85%	12.47%	5.57%	21.16%	-17.67%	22.91%

Correlation

The correlation between EURUSD=X and ^STOXX is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (3Y) Balances recent behavior with more history.	0.51
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (10Y) Provides a long-term view across more market conditions.	0.47
Correlation (All Time) Calculated using the full available price history since Aug 3, 2007	0.47

The correlation between EURUSD=X and ^STOXX has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.

Return for Risk

EURUSD=X vs. ^STOXX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EURUSD=X

EURUSD=X Risk / Return Rank: 48
EURUSD=X Sharpe Ratio Rank: 48
EURUSD=X Sortino Ratio Rank: 47
EURUSD=X Omega Ratio Rank: 47
EURUSD=X Calmar Ratio Rank: 48
EURUSD=X Martin Ratio Rank: 48

^STOXX

^STOXX Risk / Return Rank: 58
^STOXX Sharpe Ratio Rank: 55
^STOXX Sortino Ratio Rank: 66
^STOXX Omega Ratio Rank: 67
^STOXX Calmar Ratio Rank: 48
^STOXX Martin Ratio Rank: 54

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.

EURUSD=X vs. ^STOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Euro / U.S. Dollar (EURUSD=X) and STOXX Europe 600 Index (^STOXX). 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	^STOXX	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	1.42	-1.47
Sortino ratio: Return per unit of downside risk	-0.04	2.07	-2.11
Omega ratio: Gain probability vs. loss probability	1.00	1.26	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.05	1.77	-1.83
Martin ratio: Return relative to average drawdown	-0.10	5.94	-6.04

EURUSD=X vs. ^STOXX - Sharpe Ratio Comparison

The current EURUSD=X Sharpe Ratio is -0.05, which is lower than the ^STOXX Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of EURUSD=X and ^STOXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EURUSD=X vs. ^STOXX - Drawdown Comparison

The maximum EURUSD=X drawdown since its inception was -40.01%, smaller than the maximum ^STOXX drawdown of -64.60%. Use the drawdown chart below to compare losses from any high point for EURUSD=X and ^STOXX.

Drawdown Indicators

	EURUSD=X	^STOXX	Difference
Max Drawdown Largest peak-to-trough decline	-40.01%	-64.60%	+24.59%
Max Drawdown (1Y) Largest decline over 1 year	-5.67%	-11.59%	+5.92%
Max Drawdown (3Y) Largest decline over 3 years	-8.48%	-15.22%	+6.74%
Max Drawdown (5Y) Largest decline over 5 years	-19.24%	-33.96%	+14.72%
Max Drawdown (10Y) Largest decline over 10 years	-23.31%	-39.58%	+16.27%
Current Drawdown Current decline from peak	-27.89%	0.00%	-27.89%
Average Drawdown Average peak-to-trough decline	-23.69%	-22.90%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	3.45%	-0.39%

Volatility

EURUSD=X vs. ^STOXX - Volatility Comparison

The current volatility for Euro / U.S. Dollar (EURUSD=X) is 1.27%, while STOXX Europe 600 Index (^STOXX) has a volatility of 3.38%. This indicates that EURUSD=X experiences smaller price fluctuations and is considered to be less risky than ^STOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EURUSD=X	^STOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	3.38%	-2.11%
Volatility (6M) Calculated over the trailing 6-month period	3.72%	12.15%	-8.43%
Volatility (1Y) Calculated over the trailing 1-year period	5.40%	14.54%	-9.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.39%	17.46%	-10.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.07%	17.25%	-10.18%

Frequently Asked Questions

Can I hold both EURUSD=X and ^STOXX in my portfolio?

EURUSD=X and ^STOXX 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.

Which is riskier, EURUSD=X or ^STOXX?

^STOXX has higher volatility (3.38%) compared to EURUSD=X (1.27%). In terms of maximum drawdown, EURUSD=X dropped -40.01% vs ^STOXX's -64.60%.

Which has better risk-adjusted returns?

^STOXX currently has the higher Sharpe Ratio (1.42 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.