NOK=X vs. SOYB

Last updated Aug 3, 2026

NOK=X (USD/NOK) is a currency, while SOYB (Teucrium Soybean Fund) is Agricultural Commodities fund tracking the Teucrium Soybean Fund Benchmark. Over the past 10 years, NOK=X returned 1.17%/yr vs 4.44%/yr for SOYB. Their 0.40 correlation means their historical movements had little consistent relationship.

Performance

NOK=X vs. SOYB - Performance Comparison

The chart below illustrates the hypothetical performance of a NOK 10,000 investment in USD/NOK (NOK=X) and Teucrium Soybean Fund (SOYB). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NOK=X is traded in NOK, while SOYB is traded in USD. To make them comparable, the SOYB values have been converted to NOK using the latest available exchange rates.

Returns By Period

In the year-to-date period, NOK=X achieves a -6.04% return, which is significantly lower than SOYB's 7.95% return. Over the past 10 years, NOK=X has underperformed SOYB with an annualized return of 1.17%, while SOYB has yielded a comparatively higher 4.44% annualized return.

NOK=X

• 1D: 0.19%
• 1M: -3.61%
• 6M: -1.70%
• YTD: -6.04%
• 1Y: -7.40%
• 3Y*: -2.55%
• 5Y*: 1.49%
• 10Y*: 1.17%
• ALL TIME*: 2.80%

SOYB

• 1D: -0.72%
• 1M: -1.07%
• 6M: 11.23%
• YTD: 7.95%
• 1Y: 9.64%
• 3Y*: -5.75%
• 5Y*: 3.18%
• 10Y*: 4.44%
• ALL TIME*: 3.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NOK=X USD/NOK	NOK 1.10M	NOK 1.38M	NOK 1.39M
SOYB Teucrium Soybean Fund	NOK 15.07M	NOK 20.87M	NOK 25.91M

NOK=X vs. SOYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOK=X USD/NOK	-6.04%	-11.45%	11.97%	4.04%	11.02%	2.57%	-2.33%	1.46%	5.65%	-4.93%
SOYB Teucrium Soybean Fund	7.95%	-9.88%	-10.96%	-1.40%	39.08%	19.85%	20.13%	-0.74%	-4.39%	-10.99%

Correlation

The correlation between NOK=X and SOYB is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	0.42
Correlation (10Y) Provides a long-term view across more market conditions.	0.42
Correlation (All Time) Calculated using the full available price history since Sep 19, 2011	0.40

Return for Risk

NOK=X vs. SOYB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NOK=X

NOK=X Risk / Return Rank: 18
NOK=X Sharpe Ratio Rank: 17
NOK=X Sortino Ratio Rank: 19
NOK=X Omega Ratio Rank: 21
NOK=X Calmar Ratio Rank: 18
NOK=X Martin Ratio Rank: 13

SOYB

SOYB Risk / Return Rank: 58
SOYB Sharpe Ratio Rank: 60
SOYB Sortino Ratio Rank: 60
SOYB Omega Ratio Rank: 59
SOYB Calmar Ratio Rank: 61
SOYB Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NOK=X vs. SOYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD/NOK (NOK=X) and Teucrium Soybean Fund (SOYB). 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.

	NOK=X	SOYB	Difference
Sharpe ratio: Return per unit of total volatility	-0.74	0.59	-1.34
Sortino ratio: Return per unit of downside risk	-0.97	0.92	-1.90
Omega ratio: Gain probability vs. loss probability	0.89	1.11	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.56	0.76	-1.32
Martin ratio: Return relative to average drawdown	-1.07	1.84	-2.91

NOK=X vs. SOYB - Sharpe Ratio Comparison

The current NOK=X Sharpe Ratio is -0.74, which is lower than the SOYB Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of NOK=X and SOYB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NOK=X vs. SOYB - Drawdown Comparison

The maximum NOK=X drawdown since its inception was -35.52%, which is greater than SOYB's maximum drawdown of -33.15%. Use the drawdown chart below to compare losses from any high point for NOK=X and SOYB.

Drawdown Indicators

	NOK=X	SOYB	Difference
Max Drawdown Largest peak-to-trough decline	-35.52%	-33.15%	-2.37%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-11.30%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-19.95%	-33.15%	+13.20%
Max Drawdown (5Y) Largest decline over 5 years	-19.95%	-33.15%	+13.20%
Max Drawdown (10Y) Largest decline over 10 years	-35.52%	-33.15%	-2.37%
Current Drawdown Current decline from peak	-20.15%	-25.40%	+5.25%
Average Drawdown Average peak-to-trough decline	-13.04%	-14.70%	+1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.82%	4.67%	+1.15%

Volatility

NOK=X vs. SOYB - Volatility Comparison

The current volatility for USD/NOK (NOK=X) is 2.39%, while Teucrium Soybean Fund (SOYB) has a volatility of 5.71%. This indicates that NOK=X experiences smaller price fluctuations and is considered to be less risky than SOYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOK=X	SOYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.39%	5.71%	-3.32%
Volatility (6M) Calculated over the trailing 6-month period	5.85%	11.62%	-5.77%
Volatility (1Y) Calculated over the trailing 1-year period	8.07%	14.59%	-6.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.60%	18.69%	-7.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.80%	18.49%	-5.69%

Frequently Asked Questions

Can I hold both NOK=X and SOYB in my portfolio?

NOK=X and SOYB have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOK=X or SOYB?

SOYB has higher volatility (5.71%) compared to NOK=X (2.39%). In terms of maximum drawdown, NOK=X dropped -35.52% vs SOYB's -33.15%.

Which has better risk-adjusted returns?

SOYB currently has the higher Sharpe Ratio (0.59 vs -0.74), 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.