US Dollar / Indian Rupee (USD/INR) and US Dollar / Chinese Yuan (USD/CNY) compared side by side. Over the past 90 days, USD/INR is ahead by 1.2 percentage points (USD/INR +0.1% against USD/CNY -1.1%). Their daily returns move barely together (correlation 0.09 across 283 shared trading days). USD/INR has been the more volatile of the two, at 9% annualised against USD/CNY's 3%.
| Period | USD/INR | USD/CNY | Ahead |
|---|---|---|---|
| 7 days | +1.03% | -0.05% | USD/INR |
| 30 days | +0.51% | -0.61% | USD/INR |
| 90 days | +0.09% | -1.15% | USD/INR |
| Metric | USD/INR | USD/CNY |
|---|---|---|
| Max drawdown (400d) | -3.4% | -6.7% |
| Risk-adjusted return (90d) | 0.01 | -0.64 |
Relative strength over 90 days: USD/INR outperformed USD/CNY by 1.3% — measured on the USD/INR/USD/CNY 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.