NZDUSD=X vs. HG=F
NZDUSD=X (New Zealand Dollar/US Dollar FX) is a currency, while HG=F (Copper) is an asset. At a 0.06 correlation, their price movements are largely independent.
Performance
NZDUSD=X vs. HG=F - Performance Comparison
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Returns By Period
NZDUSD=X
- 1D
- 0.37%
- 1M
- -0.80%
- 6M
- 0.11%
- YTD
- 0.42%
- 1Y
- -3.46%
- 3Y*
- -3.19%
- 5Y*
- -3.84%
- 10Y*
- -2.06%
HG=F
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NZDUSD=X vs. HG=F - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NZDUSD=X New Zealand Dollar/US Dollar FX | 0.42% | 2.87% | -11.45% | -0.44% | -2.96% |
HG=F Copper | 0.00% | 0.00% | 0.00% | 0.00% | 1.29% |
Correlation
The correlation between NZDUSD=X and HG=F is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022 | 0.06 |
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Return for Risk
NZDUSD=X vs. HG=F — Risk / Return Rank
NZDUSD=X
HG=F
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NZDUSD=X vs. HG=F - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for New Zealand Dollar/US Dollar FX (NZDUSD=X) and Copper (HG=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.
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 | HG=F | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.95 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | — | — |
| Martin ratioReturn relative to average drawdown | -0.68 | — | — |
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Drawdowns
NZDUSD=X vs. HG=F - Drawdown Comparison
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Drawdown Indicators
| NZDUSD=X | HG=F | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.83% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -7.67% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.48% | — | — |
Current DrawdownCurrent decline from peak | -34.50% | — | — |
Average DrawdownAverage peak-to-trough decline | -19.73% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | — | — |
Volatility
NZDUSD=X vs. HG=F - Volatility Comparison
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Volatility by Period
| NZDUSD=X | HG=F | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.73% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.09% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.97% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.63% | — | — |
Frequently Asked Questions
NZDUSD=X and HG=F have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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