NZDUSD=X vs. DAX
NZDUSD=X (New Zealand Dollar/US Dollar FX) is a currency, while DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index. Over the past 10 years, NZDUSD=X returned -1.94%/yr vs 9.35%/yr for DAX. Their 0.37 correlation means their historical movements had little consistent relationship.
Performance
NZDUSD=X vs. DAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with NZDUSD=X having a 2.50% return and DAX slightly lower at 2.45%. Over the past 10 years, NZDUSD=X has underperformed DAX with an annualized return of -1.94%, while DAX has yielded a comparatively higher 9.35% annualized return.
NZDUSD=X
- 1D
- 0.19%
- 1M
- 3.42%
- 6M
- -1.96%
- YTD
- 2.50%
- 1Y
- -0.24%
- 3Y*
- -0.99%
- 5Y*
- -3.41%
- 10Y*
- -1.94%
- ALL TIME*
- -0.82%
DAX
- 1D
- 0.06%
- 1M
- 1.29%
- 6M
- 1.41%
- YTD
- 2.45%
- 1Y
- 8.50%
- 3Y*
- 17.57%
- 5Y*
- 9.16%
- 10Y*
- 9.35%
- ALL TIME*
- 7.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.64M | $2.14M | $1.96M | |
NZDUSD=X New Zealand Dollar/US Dollar FX | $75.19K | $73.22K | $85.22K |
NZDUSD=X vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NZDUSD=X New Zealand Dollar/US Dollar FX | 2.50% | 2.87% | -11.45% | -0.44% | -7.32% | -4.75% | 6.74% | 0.43% | -5.48% | 2.51% |
DAX Global X DAX Germany ETF | 2.45% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Correlation
The correlation between NZDUSD=X and DAX is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.47 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | 0.37 |
The correlation between NZDUSD=X and DAX shifts across timeframes, from 0.37 (all time) to 0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NZDUSD=X vs. DAX — Risk / Return Rank
NZDUSD=X
DAX
NZDUSD=X vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for New Zealand Dollar/US Dollar FX (NZDUSD=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.
| NZDUSD=X | DAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.08 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 0.49 | -0.52 |
| Martin ratioReturn relative to average drawdown | -0.05 | 1.51 | -1.56 |
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Drawdowns
NZDUSD=X vs. DAX - Drawdown Comparison
The maximum NZDUSD=X drawdown since its inception was -39.83%, smaller than the maximum DAX drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for NZDUSD=X and DAX.
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Drawdown Indicators
| NZDUSD=X | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.83% | -45.58% | +5.75% |
Max Drawdown (1Y)Largest decline over 1 year | -7.34% | -14.82% | +7.48% |
Max Drawdown (3Y)Largest decline over 3 years | -12.88% | -16.03% | +3.15% |
Max Drawdown (5Y)Largest decline over 5 years | -23.19% | -38.92% | +15.73% |
Max Drawdown (10Y)Largest decline over 10 years | -26.48% | -45.58% | +19.10% |
Current DrawdownCurrent decline from peak | -33.15% | -1.64% | -31.51% |
Average DrawdownAverage peak-to-trough decline | -19.84% | -10.43% | -9.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 4.80% | -1.49% |
Volatility
NZDUSD=X vs. DAX - Volatility Comparison
The current volatility for New Zealand Dollar/US Dollar FX (NZDUSD=X) is 2.36%, while Global X DAX Germany ETF (DAX) has a volatility of 4.82%. This indicates that NZDUSD=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
| NZDUSD=X | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 4.82% | -2.46% |
Volatility (6M)Calculated over the trailing 6-month period | 6.68% | 15.31% | -8.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.17% | 17.87% | -9.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.96% | 20.43% | -10.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.60% | 20.92% | -11.32% |
Frequently Asked Questions
NZDUSD=X and DAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAX has higher volatility (4.82%) compared to NZDUSD=X (2.36%). In terms of maximum drawdown, NZDUSD=X dropped -39.83% vs DAX's -45.58%.
DAX currently has the higher Sharpe Ratio (0.41 vs -0.02), 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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