QAN.AX vs. USD=X
QAN.AX (Qantas Airways Limited) is a stock, while USD=X (USD Cash) is a currency. Over the past 10 years, QAN.AX returned 14.62%/yr vs 0.60%/yr for USD=X. At a correlation of -0.04, they often move in opposite directions.
Performance
QAN.AX vs. USD=X - Performance Comparison
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Different Trading Currencies
QAN.AX is traded in AUD, while USD=X is traded in USD. To make them comparable, the USD=X values have been converted to AUD using the latest available exchange rates.
Returns By Period
In the year-to-date period, QAN.AX achieves a -9.75% return, which is significantly lower than USD=X's -5.31% return. Over the past 10 years, QAN.AX has outperformed USD=X with an annualized return of 14.62%, while USD=X has yielded a comparatively lower 0.60% annualized return.
QAN.AX
- 1D
- -0.11%
- 1M
- 6.89%
- YTD
- -9.75%
- 6M
- -4.51%
- 1Y
- -7.77%
- 3Y*
- 14.20%
- 5Y*
- 15.15%
- 10Y*
- 14.62%
USD=X
- 1D
- 0.00%
- 1M
- 2.72%
- YTD
- -5.31%
- 6M
- -5.78%
- 1Y
- -7.71%
- 3Y*
- -1.89%
- 5Y*
- 1.93%
- 10Y*
- 0.60%
QAN.AX vs. USD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QAN.AX Qantas Airways Limited | -9.75% | 21.79% | 67.04% | -10.65% | 19.96% | 3.30% | -30.08% | 28.19% | 18.12% | 56.17% |
USD=X USD Cash | -5.31% | -7.26% | 10.06% | 0.08% | 6.61% | 5.86% | -8.78% | 0.47% | 10.72% | -7.62% |
Correlation
The correlation between QAN.AX and USD=X is 0.01, 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 (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2007 | -0.04 |
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Return for Risk
QAN.AX vs. USD=X — Risk / Return Rank
QAN.AX
USD=X
QAN.AX vs. USD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Qantas Airways Limited (QAN.AX) and USD Cash (USD=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.
| QAN.AX | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.87 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | -0.68 | +0.33 |
| Martin ratioReturn relative to average drawdown | -0.66 | -1.31 | +0.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QAN.AX | USD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.34 | -0.95 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.18 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.06 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.08 | +0.18 |
Drawdowns
QAN.AX vs. USD=X - Drawdown Comparison
The maximum QAN.AX drawdown since its inception was -81.91%, which is greater than USD=X's maximum drawdown of -45.40%. Use the drawdown chart below to compare losses from any high point for QAN.AX and USD=X.
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Drawdown Indicators
| QAN.AX | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.91% | -45.40% | -36.51% |
Max Drawdown (1Y)Largest decline over 1 year | -29.51% | -11.57% | -17.94% |
Max Drawdown (3Y)Largest decline over 3 years | -29.51% | -18.03% | -11.48% |
Max Drawdown (5Y)Largest decline over 5 years | -30.29% | -18.03% | -12.26% |
Max Drawdown (10Y)Largest decline over 10 years | -70.36% | -28.03% | -42.33% |
Current DrawdownCurrent decline from peak | -20.86% | -18.63% | -2.23% |
Average DrawdownAverage peak-to-trough decline | -27.46% | -22.27% | -5.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.54% | 6.85% | +8.69% |
Volatility
QAN.AX vs. USD=X - Volatility Comparison
Qantas Airways Limited (QAN.AX) has a higher volatility of 9.97% compared to USD Cash (USD=X) at 2.49%. This indicates that QAN.AX's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QAN.AX | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.97% | 2.49% | +7.48% |
Volatility (6M)Calculated over the trailing 6-month period | 23.69% | 6.76% | +16.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.56% | 6.91% | +23.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.85% | 8.68% | +20.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.67% | 8.23% | +24.44% |
Frequently Asked Questions
QAN.AX and USD=X have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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