GBP=X vs. GBPUSD=X
GBP=X (USD/GBP) and GBPUSD=X (GBP/USD) are both currencies. Over the past 10 years, GBP=X returned -0.28%/yr vs 0.01%/yr for GBPUSD=X. Their 0.03 correlation means their historical movements had little consistent relationship.
Performance
GBP=X vs. GBPUSD=X - Performance Comparison
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Different Trading Currencies
GBP=X is traded in GBP, while GBPUSD=X is traded in USD. To make them comparable, the GBPUSD=X values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GBP=X achieves a 0.17% return, which is significantly higher than GBPUSD=X's 0.13% return. Over the past 10 years, GBP=X has underperformed GBPUSD=X with an annualized return of -0.28%, while GBPUSD=X has yielded a comparatively higher 0.01% annualized return.
GBP=X
- 1D
- -0.17%
- 1M
- -0.73%
- 6M
- 1.83%
- YTD
- 0.17%
- 1Y
- -1.26%
- 3Y*
- -1.78%
- 5Y*
- 0.70%
- 10Y*
- -0.28%
- ALL TIME*
- 2.21%
GBPUSD=X
- 1D
- 0.00%
- 1M
- 0.08%
- 6M
- 0.02%
- YTD
- 0.13%
- 1Y
- 0.00%
- 3Y*
- 0.02%
- 5Y*
- 0.01%
- 10Y*
- 0.01%
- ALL TIME*
- -0.01%
Liquidity Comparison
GBP=X vs. GBPUSD=X - Yearly Performance Comparison
Correlation
The correlation between GBP=X and GBPUSD=X is 0.08, 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. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2007 | 0.03 |
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Return for Risk
GBP=X vs. GBPUSD=X — Risk / Return Rank
GBP=X
GBPUSD=X
GBP=X vs. GBPUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USD/GBP (GBP=X) and GBP/USD (GBPUSD=X). 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.
| GBP=X | GBPUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.00 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | -0.00 | -0.17 |
| Martin ratioReturn relative to average drawdown | -0.37 | -0.01 | -0.37 |
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Drawdowns
GBP=X vs. GBPUSD=X - Drawdown Comparison
The maximum GBP=X drawdown since its inception was -22.85%, which is greater than GBPUSD=X's maximum drawdown of -3.56%. Use the drawdown chart below to compare losses from any high point for GBP=X and GBPUSD=X.
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Drawdown Indicators
| GBP=X | GBPUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.85% | -3.56% | -19.29% |
Max Drawdown (1Y)Largest decline over 1 year | -5.98% | -0.54% | -5.44% |
Max Drawdown (3Y)Largest decline over 3 years | -12.79% | -0.81% | -11.98% |
Max Drawdown (5Y)Largest decline over 5 years | -22.85% | -0.81% | -22.04% |
Max Drawdown (10Y)Largest decline over 10 years | -22.85% | -1.88% | -20.97% |
Current DrawdownCurrent decline from peak | -20.57% | -1.56% | -19.01% |
Average DrawdownAverage peak-to-trough decline | -11.36% | -1.16% | -10.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 0.32% | +2.62% |
Volatility
GBP=X vs. GBPUSD=X - Volatility Comparison
USD/GBP (GBP=X) has a higher volatility of 1.85% compared to GBP/USD (GBPUSD=X) at 0.19%. This indicates that GBP=X's price experiences larger fluctuations and is considered to be riskier than GBPUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBP=X | GBPUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 0.19% | +1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 4.58% | 0.58% | +4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.16% | 0.95% | +5.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.20% | 0.85% | +7.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.53% | 1.28% | +7.25% |
Frequently Asked Questions
GBP=X and GBPUSD=X 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.
GBP=X has higher volatility (1.85%) compared to GBPUSD=X (0.19%). In terms of maximum drawdown, GBP=X dropped -22.85% vs GBPUSD=X's -3.56%.
GBPUSD=X currently has the higher Sharpe Ratio (-0.00 vs -0.16), 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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