US Dollar / Australian Dollar (USD/AUD) and US Dollar / Danish Krone (USD/DKK) compared side by side. Over the past 90 days, USD/DKK is ahead by 0.3 percentage points (USD/AUD +1.4% against USD/DKK +1.7%). Their daily returns move closely together (correlation 0.70 across 283 shared trading days). USD/AUD has been the more volatile of the two, at 10% annualised against USD/DKK's 7%.
| Period | USD/AUD | USD/DKK | Ahead |
|---|---|---|---|
| 7 days | +1.47% | +1.33% | USD/AUD |
| 30 days | -1.15% | +0.42% | USD/DKK |
| 90 days | +1.39% | +1.66% | USD/DKK |
| Metric | USD/AUD | USD/DKK |
|---|---|---|
| Max drawdown (400d) | -11.4% | -4.4% |
| Risk-adjusted return (90d) | 0.17 | 0.30 |
Relative strength over 90 days: USD/DKK outperformed USD/AUD by 0.3% — measured on the USD/AUD/USD/DKK ratio, so it holds regardless of market direction.
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.