GBP=X vs. USD=X
GBP=X (USD/GBP) and USD=X (USD Cash) are both currencies. Over the past 10 years, GBP=X returned -0.28%/yr vs -0.28%/yr for USD=X. Their 1.00 correlation means they have historically moved very closely together.
Performance
GBP=X vs. USD=X - Performance Comparison
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Different Trading Currencies
GBP=X is traded in GBP, while USD=X is traded in USD. To make them comparable, the USD=X values have been converted to GBP using the latest available exchange rates.
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with GBP=X at 0.17% and USD=X at 0.17%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: GBP=X at -0.28% and USD=X at -0.28%.
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%
USD=X
- 1D
- 0.00%
- 1M
- -0.73%
- 6M
- 1.83%
- YTD
- 0.17%
- 1Y
- -1.26%
- 3Y*
- -1.78%
- 5Y*
- 0.62%
- 10Y*
- -0.28%
- ALL TIME*
- 2.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
GBP=X USD/GBP | £68.55K | £63.45K | £59.94K |
GBP=X vs. USD=X - Yearly Performance Comparison
Correlation
The correlation between GBP=X and USD=X is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2007 | 1.00 |
The correlation between GBP=X and USD=X has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
GBP=X vs. USD=X — Risk / Return Rank
GBP=X
USD=X
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GBP=X vs. USD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USD/GBP (GBP=X) and USD Cash (USD=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 | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.98 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | -0.19 | +0.02 |
| Martin ratioReturn relative to average drawdown | -0.37 | -0.42 | +0.05 |
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Drawdowns
GBP=X vs. USD=X - Drawdown Comparison
The maximum GBP=X drawdown since its inception was -22.85%, roughly equal to the maximum USD=X drawdown of -22.85%. Use the drawdown chart below to compare losses from any high point for GBP=X and USD=X.
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Drawdown Indicators
| GBP=X | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.85% | -22.85% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -5.98% | -5.98% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -12.79% | -12.79% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -22.85% | -22.85% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | -22.85% | -22.85% | 0.00% |
Current DrawdownCurrent decline from peak | -20.57% | -20.57% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -11.36% | -11.23% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 1.95% | +0.99% |
Volatility
GBP=X vs. USD=X - Volatility Comparison
USD/GBP (GBP=X) and USD Cash (USD=X) have volatilities of 1.85% and 1.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBP=X | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 1.87% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.58% | 5.16% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.16% | 5.70% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.20% | 7.11% | +1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.53% | 7.31% | +1.22% |
Frequently Asked Questions
With a correlation of 1.00, GBP=X and USD=X move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
USD=X has higher volatility (1.87%) compared to GBP=X (1.85%). In terms of maximum drawdown, GBP=X dropped -22.85% vs USD=X's -22.85%.
USD=X currently has the higher Sharpe Ratio (-0.16 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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