Comparing apples with apples: Why currency movements matter. A quick chart that examines the index percentage return of the ASX 200 versus the S&P 500, priced in US Dollars, from the 2009 GFC lows. As you can see the ASX 200, thanks to a sharp recovery in the AUDUSD between 2009-2011, actually outperformed the S&P 500 until the early parts of 2012. From there to May 2013 the two indices basically tracked each other before suddenly diverging with the S&P 500 continuing to move higher while the ASX 200 lingered at levels first hit in early 2011. (VIEW LINK)



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David Scutt

If you compare it to the same metric, yes.

David Scutt

If priced in US Dollars, the ASX 200 peaked at 7073 points back in mid-March 2013.

James Marlay

So the real divergence in performance has really only been in the past two years...