MXNUSD=X vs. GC=F

Last updated Jun 3, 2026

MXNUSD=X (MXN/USD) is a currency, while GC=F (Gold) is an asset. Over the past 10 years, MXNUSD=X returned 0.75%/yr vs 13.80%/yr for GC=F. At a 0.16 correlation, their price movements are largely independent.

Performance

MXNUSD=X vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MXN/USD (MXNUSD=X) and Gold (GC=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MXNUSD=X having a 4.29% return and GC=F slightly higher at 4.48%. Over the past 10 years, MXNUSD=X has underperformed GC=F with an annualized return of 0.75%, while GC=F has yielded a comparatively higher 13.80% annualized return.

MXNUSD=X

• 1D: 0.45%
• 1M: 0.92%
• YTD: 4.29%
• 6M: 5.83%
• 1Y: 11.20%
• 3Y*: 0.55%
• 5Y*: 3.14%
• 10Y*: 0.75%

GC=F

• 1D: 0.98%
• 1M: -2.39%
• YTD: 4.48%
• 6M: 7.94%
• 1Y: 34.08%
• 3Y*: 32.28%
• 5Y*: 19.29%
• 10Y*: 13.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MXNUSD=X vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXNUSD=X MXN/USD	4.29%	15.65%	-18.53%	14.83%	5.29%	-3.10%	-4.83%	3.73%	0.35%	5.25%
GC=F Gold	4.48%	64.52%	27.48%	13.34%	-0.43%	-3.47%	24.59%	18.87%	-2.14%	13.59%

Correlation

The correlation between MXNUSD=X and GC=F is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Jul 1, 2007	0.16

Return for Risk

MXNUSD=X vs. GC=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MXNUSD=X

MXNUSD=X Risk / Return Rank: 85
MXNUSD=X Sharpe Ratio Rank: 89
MXNUSD=X Sortino Ratio Rank: 88
MXNUSD=X Omega Ratio Rank: 85
MXNUSD=X Calmar Ratio Rank: 77
MXNUSD=X Martin Ratio Rank: 85

GC=F

GC=F Risk / Return Rank: 54
GC=F Sharpe Ratio Rank: 48
GC=F Sortino Ratio Rank: 48
GC=F Omega Ratio Rank: 45
GC=F Calmar Ratio Rank: 61
GC=F Martin Ratio Rank: 67

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.

MXNUSD=X vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MXN/USD (MXNUSD=X) and Gold (GC=F). 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.

	MXNUSD=X	GC=F	Difference
Sharpe ratio Return per unit of total volatility	1.19	1.25	-0.06
Sortino ratio Return per unit of downside risk	1.72	1.63	+0.09
Omega ratio Gain probability vs. loss probability	1.23	1.25	-0.03
Calmar ratio Return relative to maximum drawdown	1.41	2.03	-0.63
Martin ratio Return relative to average drawdown	4.93	5.15	-0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXNUSD=X vs. GC=F - Sharpe Ratio Comparison

The current MXNUSD=X Sharpe Ratio is 1.19, which is comparable to the GC=F Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of MXNUSD=X and GC=F, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MXNUSD=X	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.25	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	1.05	-0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.06	0.84	-0.78
Sharpe Ratio (All Time) Calculated using the full available price history	-0.18	0.62	-0.81

Drawdowns

MXNUSD=X vs. GC=F - Drawdown Comparison

The maximum MXNUSD=X drawdown since its inception was -61.16%, which is greater than GC=F's maximum drawdown of -44.36%. Use the drawdown chart below to compare losses from any high point for MXNUSD=X and GC=F.

Drawdown Indicators

	MXNUSD=X	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-61.16%	-44.36%	-16.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.52%	-17.73%	+12.21%
Max Drawdown (3Y) Largest decline over 3 years	-21.70%	-17.73%	-3.97%
Max Drawdown (5Y) Largest decline over 5 years	-21.70%	-20.43%	-1.27%
Max Drawdown (10Y) Largest decline over 10 years	-31.20%	-20.87%	-10.33%
Current Drawdown Current decline from peak	-42.89%	-15.03%	-27.86%
Average Drawdown Average peak-to-trough decline	-36.79%	-13.03%	-23.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	7.01%	-5.43%

Volatility

MXNUSD=X vs. GC=F - Volatility Comparison

The current volatility for MXN/USD (MXNUSD=X) is 1.54%, while Gold (GC=F) has a volatility of 5.37%. This indicates that MXNUSD=X experiences smaller price fluctuations and is considered to be less risky than GC=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXNUSD=X	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	5.37%	-3.83%
Volatility (6M) Calculated over the trailing 6-month period	6.73%	23.05%	-16.32%
Volatility (1Y) Calculated over the trailing 1-year period	7.56%	26.56%	-19.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.47%	18.21%	-7.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.43%	16.44%	-4.01%

Frequently Asked Questions

Can I hold both MXNUSD=X and GC=F in my portfolio?

MXNUSD=X and GC=F have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXNUSD=X or GC=F?

GC=F has higher volatility (5.37%) compared to MXNUSD=X (1.54%). In terms of maximum drawdown, MXNUSD=X dropped -61.16% vs GC=F's -44.36%.

Which has better risk-adjusted returns?

GC=F currently has the higher Sharpe Ratio (1.25 vs 1.19), 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.