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NZDUSD=X vs. GBPUSD=X
Performance
Return for Risk
Drawdowns
Volatility

NZDUSD=X vs. GBPUSD=X

Last updated Jun 26, 2026

NZDUSD=X (New Zealand Dollar/US Dollar FX) and GBPUSD=X (GBP/USD) are both currencies. Over the past 10 years, NZDUSD=X returned -2.12%/yr vs -0.02%/yr for GBPUSD=X. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

NZDUSD=X vs. GBPUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in New Zealand Dollar/US Dollar FX (NZDUSD=X) and GBP/USD (GBPUSD=X). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with NZDUSD=X having a -1.92% return and GBPUSD=X slightly lower at -1.95%. Over the past 10 years, NZDUSD=X has underperformed GBPUSD=X with an annualized return of -2.12%, while GBPUSD=X has yielded a comparatively higher -0.02% annualized return.

NZDUSD=X

1D
-0.07%
1M
-3.29%
YTD
-1.92%
6M
-3.27%
1Y
-6.48%
3Y*
-2.90%
5Y*
-4.41%
10Y*
-2.12%

GBPUSD=X

1D
0.21%
1M
-1.88%
YTD
-1.95%
6M
-2.33%
1Y
-3.43%
3Y*
1.25%
5Y*
-1.00%
10Y*
-0.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NZDUSD=X vs. GBPUSD=X - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NZDUSD=X
New Zealand Dollar/US Dollar FX		-1.92%2.87%-11.45%-0.44%-7.32%-4.75%6.74%0.43%-5.48%2.51%
GBPUSD=X
GBP/USD		-1.95%7.55%-1.67%5.28%-10.69%-0.91%3.06%4.01%-5.66%9.52%

Correlation

The correlation between NZDUSD=X and GBPUSD=X is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

Correlation (5Y)
Calculated over the trailing 5-year period

0.70

Correlation (10Y)
Calculated over the trailing 10-year period

0.59

Correlation (All Time)
Calculated using the full available price history since Jul 26, 2007

0.53

Over the past year, NZDUSD=X and GBPUSD=X have become more correlated (0.74) than their long-term average of 0.53, meaning their price movements have been converging.

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New Zealand Dollar/US Dollar FX

GBP/USD

Often compared with NZDUSD=X:
NZDUSD=X vs. EURUSD=XNZDUSD=X vs. AUDUSD=XNZDUSD=X vs. ^AFLINZDUSD=X vs. SPYNZDUSD=X vs. ^HSI
Often compared with GBPUSD=X:
GBPUSD=X vs. EURUSD=XGBPUSD=X vs. AUDUSD=XGBPUSD=X vs. BTC-USDGBPUSD=X vs. SPYGBPUSD=X vs. FCPTGBPUSD=X vs. BCH-USDGBPUSD=X vs. ^GSPC

Return for Risk

NZDUSD=X vs. GBPUSD=X — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NZDUSD=X
NZDUSD=X Risk / Return Rank: 1717
Overall Rank
NZDUSD=X Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
NZDUSD=X Sortino Ratio Rank: 2020
Sortino Ratio Rank
NZDUSD=X Omega Ratio Rank: 2020
Omega Ratio Rank
NZDUSD=X Calmar Ratio Rank: 1515
Calmar Ratio Rank
NZDUSD=X Martin Ratio Rank: 77
Martin Ratio Rank
GBPUSD=X
GBPUSD=X Risk / Return Rank: 2525
Overall Rank
GBPUSD=X Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GBPUSD=X Sortino Ratio Rank: 2828
Sortino Ratio Rank
GBPUSD=X Omega Ratio Rank: 2929
Omega Ratio Rank
GBPUSD=X Calmar Ratio Rank: 2121
Calmar Ratio Rank
GBPUSD=X Martin Ratio Rank: 1919
Martin Ratio Rank
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.

NZDUSD=X vs. GBPUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for New Zealand Dollar/US Dollar FX (NZDUSD=X) and GBP/USD (GBPUSD=X). 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=XGBPUSD=XDifference
Sharpe ratioReturn per unit of total volatility
-0.65
-0.45

-0.20

Sortino ratioReturn per unit of downside risk
-0.86
-0.60

-0.26

Omega ratioGain probability vs. loss probability

0.90

0.93

-0.03

Calmar ratioReturn relative to maximum drawdown

-0.62

-0.53

-0.09

Martin ratioReturn relative to average drawdown

-1.18

-0.98

-0.21

NZDUSD=X vs. GBPUSD=X - Sharpe Ratio Comparison

The current NZDUSD=X Sharpe Ratio is -0.65, which is lower than the GBPUSD=X Sharpe Ratio of -0.45. The chart below compares the historical Sharpe Ratios of NZDUSD=X and GBPUSD=X, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

NZDUSD=X vs. GBPUSD=X - Drawdown Comparison

The maximum NZDUSD=X drawdown since its inception was -39.83%, smaller than the maximum GBPUSD=X drawdown of -49.29%. Use the drawdown chart below to compare losses from any high point for NZDUSD=X and GBPUSD=X.

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Drawdown Indicators

NZDUSD=XGBPUSD=XDifference

Max Drawdown

Largest peak-to-trough decline

-39.83%

-49.29%

+9.46%

Max Drawdown (1Y)

Largest decline over 1 year

-8.48%

-5.26%

-3.22%

Max Drawdown (3Y)

Largest decline over 3 years

-13.50%

-9.34%

-4.16%

Max Drawdown (5Y)

Largest decline over 5 years

-23.19%

-23.41%

+0.22%

Max Drawdown (10Y)

Largest decline over 10 years

-26.48%

-25.46%

-1.02%

Current Drawdown

Current decline from peak

-36.02%

-37.39%

+1.37%

Average Drawdown

Average peak-to-trough decline

-19.76%

-31.26%

+11.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.72%

2.70%

+1.02%

Volatility

NZDUSD=X vs. GBPUSD=X - Volatility Comparison

New Zealand Dollar/US Dollar FX (NZDUSD=X) has a higher volatility of 2.38% compared to GBP/USD (GBPUSD=X) at 1.68%. This indicates that NZDUSD=X's price experiences larger fluctuations and is considered to be riskier than GBPUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NZDUSD=XGBPUSD=XDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.38%

1.68%

+0.70%

Volatility (6M)

Calculated over the trailing 6-month period

6.89%

4.84%

+2.05%

Volatility (1Y)

Calculated over the trailing 1-year period

8.09%

6.19%

+1.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.99%

8.23%

+1.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.68%

8.71%

+0.97%

Frequently Asked Questions

NZDUSD=X and GBPUSD=X have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NZDUSD=X has higher volatility (2.38%) compared to GBPUSD=X (1.68%). In terms of maximum drawdown, NZDUSD=X dropped -39.83% vs GBPUSD=X's -49.29%.

GBPUSD=X currently has the higher Sharpe Ratio (-0.45 vs -0.65), 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.

Portfolio Optimizer

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