XAGUSD=X vs. XAUT-USD
XAGUSD=X (Silver Spot Price US Dollar) is a currency, while XAUT-USD (Tether Gold USD) is a cryptocurrency. Over the past 5 years, XAGUSD=X returned 19.47%/yr vs 17.91%/yr for XAUT-USD. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
XAGUSD=X vs. XAUT-USD - Performance Comparison
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Returns By Period
In the year-to-date period, XAGUSD=X achieves a -5.75% return, which is significantly lower than XAUT-USD's -0.64% return.
XAGUSD=X
- 1D
- -8.28%
- 1M
- -12.41%
- YTD
- -5.75%
- 6M
- 16.23%
- 1Y
- 89.67%
- 3Y*
- 42.06%
- 5Y*
- 19.47%
- 10Y*
- 15.26%
XAUT-USD
- 1D
- -2.92%
- 1M
- -8.03%
- YTD
- -0.64%
- 6M
- 2.58%
- 1Y
- 27.99%
- 3Y*
- 29.96%
- 5Y*
- 17.91%
- 10Y*
- —
XAGUSD=X vs. XAUT-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XAGUSD=X Silver Spot Price US Dollar | -5.75% | 148.50% | 21.59% | -0.79% | 2.85% | -11.48% | 47.80% |
XAUT-USD Tether Gold USD | -0.64% | 64.73% | 27.39% | 13.75% | -0.68% | -4.67% | 21.67% |
Correlation
The correlation between XAGUSD=X and XAUT-USD is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2020 | 0.62 |
The correlation between XAGUSD=X and XAUT-USD has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.
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Return for Risk
XAGUSD=X vs. XAUT-USD — Risk / Return Rank
XAGUSD=X
XAUT-USD
XAGUSD=X vs. XAUT-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Silver Spot Price US Dollar (XAGUSD=X) and Tether Gold USD (XAUT-USD). 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.
| XAGUSD=X | XAUT-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.20 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 1.27 | +0.26 |
| Martin ratioReturn relative to average drawdown | 3.36 | 3.09 | +0.28 |
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
| XAGUSD=X | XAUT-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.06 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 1.00 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.94 | -0.66 |
Drawdowns
XAGUSD=X vs. XAUT-USD - Drawdown Comparison
The maximum XAGUSD=X drawdown since its inception was -75.36%, which is greater than XAUT-USD's maximum drawdown of -22.11%. Use the drawdown chart below to compare losses from any high point for XAGUSD=X and XAUT-USD.
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Drawdown Indicators
| XAGUSD=X | XAUT-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.36% | -22.11% | -53.25% |
Max Drawdown (1Y)Largest decline over 1 year | -44.14% | -22.11% | -22.03% |
Max Drawdown (3Y)Largest decline over 3 years | -44.14% | -22.11% | -22.03% |
Max Drawdown (5Y)Largest decline over 5 years | -44.14% | -22.11% | -22.03% |
Max Drawdown (10Y)Largest decline over 10 years | -44.14% | — | — |
Current DrawdownCurrent decline from peak | -42.01% | -22.11% | -19.90% |
Average DrawdownAverage peak-to-trough decline | -44.65% | -6.44% | -38.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.31% | 10.77% | +11.54% |
Volatility
XAGUSD=X vs. XAUT-USD - Volatility Comparison
Silver Spot Price US Dollar (XAGUSD=X) has a higher volatility of 16.05% compared to Tether Gold USD (XAUT-USD) at 5.51%. This indicates that XAGUSD=X's price experiences larger fluctuations and is considered to be riskier than XAUT-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAGUSD=X | XAUT-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.05% | 5.51% | +10.54% |
Volatility (6M)Calculated over the trailing 6-month period | 56.64% | 23.35% | +33.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.03% | 22.04% | +31.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.84% | 14.92% | +19.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.15% | 15.15% | +16.00% |
Frequently Asked Questions
XAGUSD=X and XAUT-USD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XAGUSD=X has higher volatility (16.05%) compared to XAUT-USD (5.51%). In terms of maximum drawdown, XAGUSD=X dropped -75.36% vs XAUT-USD's -22.11%.
XAGUSD=X currently has the higher Sharpe Ratio (1.25 vs 1.06), 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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