SSRM vs. DXJ

Last updated Jun 25, 2026

SSRM (SSR Mining Inc.) is a stock, while DXJ (WisdomTree Japan Hedged Equity Fund) is Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Over the past 10 years, SSRM returned 9.49%/yr vs 19.26%/yr for DXJ. At a 0.12 correlation, their price movements are largely independent.

Performance

SSRM vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SSR Mining Inc. (SSRM) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSRM achieves a 29.33% return, which is significantly higher than DXJ's 20.40% return. Over the past 10 years, SSRM has underperformed DXJ with an annualized return of 9.49%, while DXJ has yielded a comparatively higher 19.26% annualized return.

SSRM

• 1D: -3.11%
• 1M: -4.61%
• YTD: 29.33%
• 6M: 24.29%
• 1Y: 129.37%
• 3Y*: 27.39%
• 5Y*: 13.59%
• 10Y*: 9.49%

DXJ

• 1D: 0.14%
• 1M: 2.35%
• YTD: 20.40%
• 6M: 21.04%
• 1Y: 56.13%
• 3Y*: 31.72%
• 5Y*: 26.33%
• 10Y*: 19.26%

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

SSRM vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSRM SSR Mining Inc.	29.33%	214.94%	-35.32%	-29.94%	-10.02%	-10.90%	4.41%	59.31%	37.54%	-1.46%
DXJ WisdomTree Japan Hedged Equity Fund	20.40%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	22.81%

Correlation

The correlation between SSRM and DXJ is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 16, 2006	0.12

Over the past year, SSRM and DXJ have become more correlated (0.35) than their long-term average of 0.12, meaning their price movements have been converging.

Return for Risk

SSRM vs. DXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SSRM

SSRM Risk / Return Rank: 87
SSRM Sharpe Ratio Rank: 88
SSRM Sortino Ratio Rank: 84
SSRM Omega Ratio Rank: 83
SSRM Calmar Ratio Rank: 90
SSRM Martin Ratio Rank: 89

DXJ

DXJ Risk / Return Rank: 92
DXJ Sharpe Ratio Rank: 94
DXJ Sortino Ratio Rank: 93
DXJ Omega Ratio Rank: 92
DXJ Calmar Ratio Rank: 90
DXJ Martin Ratio Rank: 91

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.

SSRM vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SSR Mining Inc. (SSRM) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.

	SSRM	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.93	3.11	-1.18
Sortino ratio: Return per unit of downside risk	2.47	4.03	-1.56
Omega ratio: Gain probability vs. loss probability	1.32	1.56	-0.24
Calmar ratio: Return relative to maximum drawdown	4.16	5.14	-0.98
Martin ratio: Return relative to average drawdown	10.51	19.81	-9.30

SSRM vs. DXJ - Sharpe Ratio Comparison

The current SSRM Sharpe Ratio is 1.93, which is lower than the DXJ Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of SSRM and DXJ, 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

SSRM vs. DXJ - Drawdown Comparison

The maximum SSRM drawdown since its inception was -91.68%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for SSRM and DXJ.

Drawdown Indicators

	SSRM	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-91.68%	-49.63%	-42.05%
Max Drawdown (1Y) Largest decline over 1 year	-31.28%	-10.98%	-20.30%
Max Drawdown (3Y) Largest decline over 3 years	-73.41%	-22.19%	-51.22%
Max Drawdown (5Y) Largest decline over 5 years	-83.16%	-22.19%	-60.97%
Max Drawdown (10Y) Largest decline over 10 years	-83.16%	-39.14%	-44.02%
Current Drawdown Current decline from peak	-34.87%	-3.44%	-31.43%
Average Drawdown Average peak-to-trough decline	-57.13%	-14.30%	-42.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.35%	2.84%	+9.51%

Volatility

SSRM vs. DXJ - Volatility Comparison

SSR Mining Inc. (SSRM) has a higher volatility of 21.37% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 6.28%. This indicates that SSRM's price experiences larger fluctuations and is considered to be riskier than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSRM	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.37%	6.28%	+15.09%
Volatility (6M) Calculated over the trailing 6-month period	55.49%	13.94%	+41.55%
Volatility (1Y) Calculated over the trailing 1-year period	67.79%	18.14%	+49.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.18%	19.07%	+37.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.11%	20.00%	+33.11%

Dividends

SSRM vs. DXJ - Dividend Comparison

SSRM has not paid dividends to shareholders, while DXJ's dividend yield for the trailing twelve months is around 1.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	1.07%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
SSRM SSR Mining Inc.	0.00%	0.00%	0.00%	2.60%	1.79%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SSRM and DXJ in my portfolio?

SSRM and DXJ have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSRM or DXJ?

SSRM has higher volatility (21.37%) compared to DXJ (6.28%). In terms of maximum drawdown, SSRM dropped -91.68% vs DXJ's -49.63%.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (3.11 vs 1.93), 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.