MXNUSD=X vs. UNG

Last updated Jun 3, 2026

MXNUSD=X (MXN/USD) is a currency, while UNG (United States Natural Gas Fund LP) is Oil & Gas fund tracking the Front Month Natural Gas. Over the past 10 years, MXNUSD=X returned 0.75%/yr vs -20.65%/yr for UNG. At a 0.07 correlation, their price movements are largely independent.

Performance

MXNUSD=X vs. UNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MXN/USD (MXNUSD=X) and United States Natural Gas Fund LP (UNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXNUSD=X achieves a 4.29% return, which is significantly higher than UNG's -6.44% return. Over the past 10 years, MXNUSD=X has outperformed UNG with an annualized return of 0.75%, while UNG has yielded a comparatively lower -20.65% 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%

UNG

• 1D: -0.61%
• 1M: 7.10%
• YTD: -6.44%
• 6M: -23.33%
• 1Y: -32.01%
• 3Y*: -21.73%
• 5Y*: -23.24%
• 10Y*: -20.65%

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

MXNUSD=X vs. UNG - 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%
UNG United States Natural Gas Fund LP	-6.44%	-27.07%	-17.11%	-64.04%	12.89%	35.76%	-45.43%	-31.77%	5.96%	-37.58%

Correlation

The correlation between MXNUSD=X and UNG is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jul 2, 2007	0.07

The correlation between MXNUSD=X and UNG shifts across timeframes, from -0.15 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MXNUSD=X vs. UNG — 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

UNG

UNG Risk / Return Rank: 4
UNG Sharpe Ratio Rank: 4
UNG Sortino Ratio Rank: 5
UNG Omega Ratio Rank: 5
UNG Calmar Ratio Rank: 3
UNG Martin Ratio Rank: 4

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. UNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MXN/USD (MXNUSD=X) and United States Natural Gas Fund LP (UNG). 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	UNG	Difference
Sharpe ratio Return per unit of total volatility	1.19	-0.53	+1.72
Sortino ratio Return per unit of downside risk	1.72	-0.45	+2.17
Omega ratio Gain probability vs. loss probability	1.23	0.94	+0.29
Calmar ratio Return relative to maximum drawdown	1.41	-0.62	+2.02
Martin ratio Return relative to average drawdown	4.93	-0.91	+5.84
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. UNG - Sharpe Ratio Comparison

The current MXNUSD=X Sharpe Ratio is 1.19, which is higher than the UNG Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of MXNUSD=X and UNG, 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	UNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	-0.53	+1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	-0.36	+0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.06	-0.38	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	-0.18	-0.57	+0.39

Drawdowns

MXNUSD=X vs. UNG - Drawdown Comparison

The maximum MXNUSD=X drawdown since its inception was -61.16%, smaller than the maximum UNG drawdown of -99.88%. Use the drawdown chart below to compare losses from any high point for MXNUSD=X and UNG.

Drawdown Indicators

	MXNUSD=X	UNG	Difference
Max Drawdown Largest peak-to-trough decline	-61.16%	-99.88%	+38.72%
Max Drawdown (1Y) Largest decline over 1 year	-5.52%	-43.86%	+38.34%
Max Drawdown (3Y) Largest decline over 3 years	-21.70%	-68.16%	+46.46%
Max Drawdown (5Y) Largest decline over 5 years	-21.70%	-92.49%	+70.79%
Max Drawdown (10Y) Largest decline over 10 years	-31.20%	-93.55%	+62.35%
Current Drawdown Current decline from peak	-42.89%	-99.86%	+56.97%
Average Drawdown Average peak-to-trough decline	-36.79%	-89.96%	+53.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	29.59%	-28.01%

Volatility

MXNUSD=X vs. UNG - Volatility Comparison

The current volatility for MXN/USD (MXNUSD=X) is 1.54%, while United States Natural Gas Fund LP (UNG) has a volatility of 13.11%. This indicates that MXNUSD=X experiences smaller price fluctuations and is considered to be less risky than UNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXNUSD=X	UNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	13.11%	-11.57%
Volatility (6M) Calculated over the trailing 6-month period	6.73%	53.02%	-46.29%
Volatility (1Y) Calculated over the trailing 1-year period	7.56%	60.90%	-53.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.47%	64.09%	-53.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.43%	54.79%	-42.36%

Frequently Asked Questions

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

MXNUSD=X and UNG have a correlation of -0.15, 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 UNG?

UNG has higher volatility (13.11%) compared to MXNUSD=X (1.54%). In terms of maximum drawdown, MXNUSD=X dropped -61.16% vs UNG's -99.88%.

Which has better risk-adjusted returns?

MXNUSD=X currently has the higher Sharpe Ratio (1.19 vs -0.53), 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.