JPYEUR=X vs. JPY=X
JPYEUR=X (JPY/EUR Exchange Rate) and JPY=X (USD/JPY) are both currencies. Over the past 10 years, JPYEUR=X returned -4.61%/yr vs -0.27%/yr for JPY=X. Their 0.50 correlation means their historical movements had little consistent relationship.
Performance
JPYEUR=X vs. JPY=X - Performance Comparison
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Different Trading Currencies
JPYEUR=X is traded in EUR, while JPY=X is traded in JPY. To make them comparable, the JPY=X values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, JPYEUR=X achieves a 1.40% return, which is significantly lower than JPY=X's 1.80% return. Over the past 10 years, JPYEUR=X has underperformed JPY=X with an annualized return of -4.61%, while JPY=X has yielded a comparatively higher -0.27% annualized return.
JPYEUR=X
- 1D
- 1.36%
- 1M
- 1.49%
- 6M
- 1.06%
- YTD
- 1.40%
- 1Y
- -5.89%
- 3Y*
- -4.65%
- 5Y*
- -6.43%
- 10Y*
- -4.61%
- ALL TIME*
- -0.48%
JPY=X
- 1D
- 0.07%
- 1M
- -0.79%
- 6M
- 2.84%
- YTD
- 1.80%
- 1Y
- 0.55%
- 3Y*
- -1.61%
- 5Y*
- 0.59%
- 10Y*
- -0.27%
- ALL TIME*
- 1.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
JPY=X USD/JPY | €185.96K | €203.66K | €177.65K |
JPYEUR=X JPY/EUR Exchange Rate | €999.71 | €882.35 | €846.37 |
JPYEUR=X vs. JPY=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPYEUR=X JPY/EUR Exchange Rate | 1.40% | -11.54% | -4.39% | -9.84% | -6.69% | -3.62% | -3.48% | 3.14% | 7.63% | -8.95% |
JPY=X USD/JPY | 1.80% | -11.80% | 6.68% | -3.04% | 6.29% | 7.43% | -8.26% | 2.14% | 4.79% | -12.32% |
Correlation
The correlation between JPYEUR=X and JPY=X is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.30 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2007 | 0.50 |
Over the past year, the correlation between JPYEUR=X and JPY=X has dropped to 0.28 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.
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Return for Risk
JPYEUR=X vs. JPY=X — Risk / Return Rank
JPYEUR=X
JPY=X
JPYEUR=X vs. JPY=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPY/EUR Exchange Rate (JPYEUR=X) and USD/JPY (JPY=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.
| JPYEUR=X | JPY=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.98 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.45 | -0.16 | -0.29 |
| Martin ratioReturn relative to average drawdown | -0.64 | -0.44 | -0.19 |
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Drawdowns
JPYEUR=X vs. JPY=X - Drawdown Comparison
The maximum JPYEUR=X drawdown since its inception was -49.74%, which is greater than JPY=X's maximum drawdown of -20.33%. Use the drawdown chart below to compare losses from any high point for JPYEUR=X and JPY=X.
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Drawdown Indicators
| JPYEUR=X | JPY=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.74% | -20.33% | -29.41% |
Max Drawdown (1Y)Largest decline over 1 year | -9.26% | -4.66% | -4.60% |
Max Drawdown (3Y)Largest decline over 3 years | -17.43% | -14.94% | -2.49% |
Max Drawdown (5Y)Largest decline over 5 years | -33.28% | -20.33% | -12.95% |
Max Drawdown (10Y)Largest decline over 10 years | -40.07% | -20.33% | -19.74% |
Current DrawdownCurrent decline from peak | -48.06% | -16.75% | -31.31% |
Average DrawdownAverage peak-to-trough decline | -24.75% | -9.47% | -15.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.50% | 1.84% | +2.66% |
Volatility
JPYEUR=X vs. JPY=X - Volatility Comparison
JPY/EUR Exchange Rate (JPYEUR=X) has a higher volatility of 2.50% compared to USD/JPY (JPY=X) at 1.23%. This indicates that JPYEUR=X's price experiences larger fluctuations and is considered to be riskier than JPY=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPYEUR=X | JPY=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 1.23% | +1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.10% | 4.06% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 5.73% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.60% | 7.48% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.04% | 7.20% | +0.84% |
Frequently Asked Questions
JPYEUR=X and JPY=X have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPYEUR=X has higher volatility (2.50%) compared to JPY=X (1.23%). In terms of maximum drawdown, JPYEUR=X dropped -49.74% vs JPY=X's -20.33%.
JPY=X currently has the higher Sharpe Ratio (-0.13 vs -0.73), 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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