EURUSD=X vs. USD
EURUSD=X (Euro / U.S. Dollar) is a currency, while USD (ProShares Ultra Semiconductors) is Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Over the past 10 years, EURUSD=X returned 0.30%/yr vs 62.72%/yr for USD. At a 0.15 correlation, their price movements are largely independent.
Performance
EURUSD=X vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, EURUSD=X achieves a -3.24% return, which is significantly lower than USD's 92.18% return. Over the past 10 years, EURUSD=X has underperformed USD with an annualized return of 0.30%, while USD has yielded a comparatively higher 62.72% annualized return.
EURUSD=X
- 1D
- 0.05%
- 1M
- -2.29%
- YTD
- -3.24%
- 6M
- -3.56%
- 1Y
- -2.52%
- 3Y*
- 1.38%
- 5Y*
- -0.97%
- 10Y*
- 0.30%
USD
- 1D
- 4.73%
- 1M
- -0.57%
- YTD
- 92.18%
- 6M
- 86.88%
- 1Y
- 185.02%
- 3Y*
- 118.50%
- 5Y*
- 64.73%
- 10Y*
- 62.72%
EURUSD=X vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EURUSD=X Euro / U.S. Dollar | -3.24% | 13.43% | -6.18% | 3.16% | -6.01% | -6.81% | 8.85% | -1.94% | -4.66% | 14.14% |
USD ProShares Ultra Semiconductors | 92.18% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between EURUSD=X and USD is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2007 | 0.15 |
The correlation between EURUSD=X and USD shifts across timeframes, from 0.08 (1 year) to 0.19 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EURUSD=X vs. USD — Risk / Return Rank
EURUSD=X
USD
EURUSD=X vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Euro / U.S. Dollar (EURUSD=X) and ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.10 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.38 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | 5.86 | -6.21 |
| Martin ratioReturn relative to average drawdown | -0.82 | 16.16 | -16.98 |
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Drawdowns
EURUSD=X vs. USD - Drawdown Comparison
The maximum EURUSD=X drawdown since its inception was -40.01%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for EURUSD=X and USD.
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Drawdown Indicators
| EURUSD=X | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.01% | -88.63% | +48.62% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -31.80% | +26.13% |
Max Drawdown (3Y)Largest decline over 3 years | -8.83% | -64.46% | +55.63% |
Max Drawdown (5Y)Largest decline over 5 years | -19.63% | -77.85% | +58.22% |
Max Drawdown (10Y)Largest decline over 10 years | -23.31% | -77.85% | +54.54% |
Current DrawdownCurrent decline from peak | -28.93% | -11.21% | -17.72% |
Average DrawdownAverage peak-to-trough decline | -23.50% | -32.29% | +8.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 11.50% | -8.82% |
Volatility
EURUSD=X vs. USD - Volatility Comparison
The current volatility for Euro / U.S. Dollar (EURUSD=X) is 1.46%, while ProShares Ultra Semiconductors (USD) has a volatility of 33.79%. This indicates that EURUSD=X experiences smaller price fluctuations and is considered to be less risky than USD 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 | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 33.79% | -32.33% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 53.90% | -49.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.85% | 67.84% | -61.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.40% | 77.74% | -70.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 69.82% | -62.72% |
Frequently Asked Questions
EURUSD=X and USD have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (33.79%) compared to EURUSD=X (1.46%). In terms of maximum drawdown, EURUSD=X dropped -40.01% vs USD's -88.63%.
USD currently has the higher Sharpe Ratio (2.75 vs -0.35), 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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