JPYUSD=X vs. DAX
JPYUSD=X (JPY/USD) is a currency, while DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index. Over the past 10 years, JPYUSD=X returned -4.16%/yr vs 9.07%/yr for DAX. At a correlation of -0.02, they often move in opposite directions.
Performance
JPYUSD=X vs. DAX - Performance Comparison
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Returns By Period
In the year-to-date period, JPYUSD=X achieves a -3.56% return, which is significantly lower than DAX's -2.21% return. Over the past 10 years, JPYUSD=X has underperformed DAX with an annualized return of -4.16%, while DAX has yielded a comparatively higher 9.07% annualized return.
JPYUSD=X
- 1D
- -0.08%
- 1M
- -0.70%
- 6M
- -2.66%
- YTD
- -3.56%
- 1Y
- -8.63%
- 3Y*
- -4.43%
- 5Y*
- -7.45%
- 10Y*
- -4.16%
- ALL TIME*
- -1.72%
DAX
- 1D
- -0.16%
- 1M
- -1.66%
- 6M
- -4.43%
- YTD
- -2.21%
- 1Y
- -0.30%
- 3Y*
- 15.55%
- 5Y*
- 8.39%
- 10Y*
- 9.07%
- ALL TIME*
- 7.28%
JPYUSD=X vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPYUSD=X JPY/USD | -3.56% | 0.33% | -10.26% | -7.04% | -12.23% | -10.24% | 5.18% | 0.86% | 2.82% | 3.91% |
DAX Global X DAX Germany ETF | -2.21% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Correlation
The correlation between JPYUSD=X and DAX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | -0.02 |
The correlation between JPYUSD=X and DAX shifts across timeframes, from -0.02 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JPYUSD=X vs. DAX — Risk / Return Rank
JPYUSD=X
DAX
JPYUSD=X vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPY/USD (JPYUSD=X) and Global X DAX Germany ETF (DAX). 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.
| JPYUSD=X | DAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.53 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.01 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | -0.02 | -0.69 |
| Martin ratioReturn relative to average drawdown | -1.11 | -0.06 | -1.05 |
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Drawdowns
JPYUSD=X vs. DAX - Drawdown Comparison
The maximum JPYUSD=X drawdown since its inception was -53.20%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for JPYUSD=X and DAX.
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Drawdown Indicators
| JPYUSD=X | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.20% | -45.58% | -7.62% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -14.82% | +4.92% |
Max Drawdown (3Y)Largest decline over 3 years | -14.17% | -16.03% | +1.86% |
Max Drawdown (5Y)Largest decline over 5 years | -32.94% | -38.92% | +5.98% |
Max Drawdown (10Y)Largest decline over 10 years | -38.53% | -45.58% | +7.05% |
Current DrawdownCurrent decline from peak | -53.17% | -6.12% | -47.05% |
Average DrawdownAverage peak-to-trough decline | -27.24% | -10.45% | -16.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.64% | 4.99% | +1.65% |
Volatility
JPYUSD=X vs. DAX - Volatility Comparison
The current volatility for JPY/USD (JPYUSD=X) is 1.24%, while Global X DAX Germany ETF (DAX) has a volatility of 4.69%. This indicates that JPYUSD=X experiences smaller price fluctuations and is considered to be less risky than DAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPYUSD=X | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 4.69% | -3.45% |
Volatility (6M)Calculated over the trailing 6-month period | 4.40% | 15.31% | -10.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.27% | 18.04% | -10.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.53% | 20.41% | -10.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.68% | 20.91% | -12.23% |
Frequently Asked Questions
JPYUSD=X and DAX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAX has higher volatility (4.69%) compared to JPYUSD=X (1.24%). In terms of maximum drawdown, JPYUSD=X dropped -53.20% vs DAX's -45.58%.
DAX currently has the higher Sharpe Ratio (-0.02 vs -0.96), 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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