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GBPUSD=X vs. NZDUSD=X
Performance
Return for Risk
Drawdowns
Volatility

GBPUSD=X vs. NZDUSD=X

Last updated Jun 24, 2026

GBPUSD=X (GBP/USD) and NZDUSD=X (New Zealand Dollar/US Dollar FX) are both currencies. Over the past 10 years, GBPUSD=X returned -0.34%/yr vs -2.26%/yr for NZDUSD=X. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

GBPUSD=X vs. NZDUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GBP/USD (GBPUSD=X) and New Zealand Dollar/US Dollar FX (NZDUSD=X). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GBPUSD=X achieves a -1.91% return, which is significantly lower than NZDUSD=X's -1.56% return. Over the past 10 years, GBPUSD=X has outperformed NZDUSD=X with an annualized return of -0.34%, while NZDUSD=X has yielded a comparatively lower -2.26% annualized return.

GBPUSD=X

1D
-0.38%
1M
-2.06%
YTD
-1.91%
6M
-2.36%
1Y
-2.39%
3Y*
1.25%
5Y*
-1.05%
10Y*
-0.34%

NZDUSD=X

1D
-0.85%
1M
-3.50%
YTD
-1.56%
6M
-3.03%
1Y
-5.16%
3Y*
-2.65%
5Y*
-4.30%
10Y*
-2.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GBPUSD=X vs. NZDUSD=X - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GBPUSD=X
GBP/USD		-1.91%7.55%-1.67%5.28%-10.69%-0.91%3.06%4.01%-5.66%9.52%
NZDUSD=X
New Zealand Dollar/US Dollar FX		-1.56%2.87%-11.45%-0.44%-7.32%-4.75%6.74%0.43%-5.48%2.51%

Correlation

The correlation between GBPUSD=X and NZDUSD=X is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

Correlation (5Y)
Calculated over the trailing 5-year period

0.70

Correlation (10Y)
Calculated over the trailing 10-year period

0.59

Correlation (All Time)
Calculated using the full available price history since Jul 24, 2007

0.53

Over the past year, GBPUSD=X and NZDUSD=X have become more correlated (0.74) than their long-term average of 0.53, meaning their price movements have been converging.

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GBP/USD

New Zealand Dollar/US Dollar FX

Often compared with GBPUSD=X:
GBPUSD=X vs. EURUSD=XGBPUSD=X vs. AUDUSD=XGBPUSD=X vs. BTC-USDGBPUSD=X vs. SPYGBPUSD=X vs. FCPTGBPUSD=X vs. BCH-USDGBPUSD=X vs. ^GSPC
Often compared with NZDUSD=X:
NZDUSD=X vs. EURUSD=XNZDUSD=X vs. AUDUSD=XNZDUSD=X vs. ^AFLINZDUSD=X vs. SPY

Return for Risk

GBPUSD=X vs. NZDUSD=X — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GBPUSD=X
GBPUSD=X Risk / Return Rank: 2929
Overall Rank
GBPUSD=X Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
GBPUSD=X Sortino Ratio Rank: 3131
Sortino Ratio Rank
GBPUSD=X Omega Ratio Rank: 3232
Omega Ratio Rank
GBPUSD=X Calmar Ratio Rank: 2626
Calmar Ratio Rank
GBPUSD=X Martin Ratio Rank: 2626
Martin Ratio Rank
NZDUSD=X
NZDUSD=X Risk / Return Rank: 2525
Overall Rank
NZDUSD=X Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
NZDUSD=X Sortino Ratio Rank: 2626
Sortino Ratio Rank
NZDUSD=X Omega Ratio Rank: 2727
Omega Ratio Rank
NZDUSD=X Calmar Ratio Rank: 2323
Calmar Ratio Rank
NZDUSD=X Martin Ratio Rank: 2121
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GBPUSD=X vs. NZDUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GBP/USD (GBPUSD=X) and New Zealand Dollar/US Dollar FX (NZDUSD=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.

GBPUSD=XNZDUSD=XDifference
Sharpe ratioReturn per unit of total volatility
-0.31
-0.52

+0.21

Sortino ratioReturn per unit of downside risk
-0.40
-0.67

+0.27

Omega ratioGain probability vs. loss probability

0.95

0.92

+0.03

Calmar ratioReturn relative to maximum drawdown

-0.37

-0.49

+0.13

Martin ratioReturn relative to average drawdown

-0.69

-0.95

+0.26

GBPUSD=X vs. NZDUSD=X - Sharpe Ratio Comparison

The current GBPUSD=X Sharpe Ratio is -0.31, which is higher than the NZDUSD=X Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of GBPUSD=X and NZDUSD=X, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GBPUSD=X vs. NZDUSD=X - Drawdown Comparison

The maximum GBPUSD=X drawdown since its inception was -49.29%, which is greater than NZDUSD=X's maximum drawdown of -39.83%. Use the drawdown chart below to compare losses from any high point for GBPUSD=X and NZDUSD=X.

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Drawdown Indicators

GBPUSD=XNZDUSD=XDifference

Max Drawdown

Largest peak-to-trough decline

-49.29%

-39.83%

-9.46%

Max Drawdown (1Y)

Largest decline over 1 year

-5.26%

-8.48%

+3.22%

Max Drawdown (3Y)

Largest decline over 3 years

-9.34%

-13.50%

+4.16%

Max Drawdown (5Y)

Largest decline over 5 years

-23.41%

-23.19%

-0.22%

Max Drawdown (10Y)

Largest decline over 10 years

-25.46%

-26.48%

+1.02%

Current Drawdown

Current decline from peak

-37.37%

-35.79%

-1.58%

Average Drawdown

Average peak-to-trough decline

-31.25%

-19.75%

-11.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.67%

3.67%

-1.00%

Volatility

GBPUSD=X vs. NZDUSD=X - Volatility Comparison

The current volatility for GBP/USD (GBPUSD=X) is 1.66%, while New Zealand Dollar/US Dollar FX (NZDUSD=X) has a volatility of 2.42%. This indicates that GBPUSD=X experiences smaller price fluctuations and is considered to be less risky than NZDUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GBPUSD=XNZDUSD=XDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.66%

2.42%

-0.76%

Volatility (6M)

Calculated over the trailing 6-month period

4.83%

6.90%

-2.07%

Volatility (1Y)

Calculated over the trailing 1-year period

6.25%

8.14%

-1.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.23%

9.99%

-1.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.72%

9.69%

-0.97%

Frequently Asked Questions

GBPUSD=X and NZDUSD=X have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NZDUSD=X has higher volatility (2.42%) compared to GBPUSD=X (1.66%). In terms of maximum drawdown, GBPUSD=X dropped -49.29% vs NZDUSD=X's -39.83%.

GBPUSD=X currently has the higher Sharpe Ratio (-0.31 vs -0.52), 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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