UUP Dollar ETF vs Broad Dollar Index
Live side-by-side comparison with current values, changes, and key statistics.
Why This Comparison Matters
UUP tracks USD against six majors (the traditional DXY), while DTWEXBGS is a broader trade-weighted measure. When they diverge, it reflects USD strength or weakness concentrated in specific currency pairs. UUP is the primary tool for traders to express dollar views, and its divergence from DTWEXBGS reveals which currencies are driving the move.
Cross-Asset Analysis
This page pairs US Dollar Bull (UUP) (invesco DB US Dollar Index Bullish Fund) against Trade-Weighted Dollar (Broad) (broad trade-weighted US dollar index, measures dollar strength vs major trading partners) to surface the specific macro signal that lives in the peer pair relationship. Liquidity differences between US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) produce asymmetric spread moves during risk-off episodes. Pairs trading between US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) is common because the spread is more stationary than either individual price, suitable for mean-reversion strategies.
Mid-cycle stretches see the US Dollar Bull (UUP)-Trade-Weighted Dollar (Broad) spread compress as macro volatility stays low and factor returns normalize. US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) occupy the same asset class, and the relative performance between them isolates the specific factor that distinguishes one from the other. Factor tilts expressed through the US Dollar Bull (UUP)-Trade-Weighted Dollar (Broad) selection allow managers to adjust style exposure without changing their overall asset allocation.
US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) look similar at a glance, but the embedded factor tilts between them matter a great deal over time. Overlay strategies trade the US Dollar Bull (UUP)-Trade-Weighted Dollar (Broad) spread through options or swaps when the underlying pair is directly tradable, sizing against realized spread volatility.
90-Day Statistics
No data available
No data available
Explore Each Metric
Related Scenarios & Forecasts
Get daily macro analysis comparing key metrics delivered to your inbox. Stay ahead of market-moving divergences.
Frequently Asked Questions
What is the relationship between US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad)?+
US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) are connected through shared asset class exposure with different factor tilts. When the underlying asset class shifts, both respond, though with different sensitivities and at different speeds. The spread between US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) captures the specific macro signal that flows through this relationship.
When does US Dollar Bull (UUP) typically lead Trade-Weighted Dollar (Broad)?+
US Dollar Bull (UUP) tends to lead Trade-Weighted Dollar (Broad) during rotation episodes between the two factor exposures. In those periods, moves in US Dollar Bull (UUP) precede corresponding moves in Trade-Weighted Dollar (Broad) by days to weeks, depending on the transmission channel and the depth of each market.
How are US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) historically correlated?+
Long-run correlation between US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) varies by regime. Peers in the same asset class are highly correlated in direction, with the spread reflecting factor tilts and rotation dynamics. The correlation is not stable: it shifts with macro conditions, and the periods when it breaks down are often the most informative moments in the US Dollar Bull (UUP)-Trade-Weighted Dollar (Broad) relationship.
What macro conditions drive divergence between US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad)?+
Divergence between US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) typically arises from index reconstitution, mega-cap earnings surprises, or liquidity differences between the peers. When one asset's idiosyncratic drivers dominate, the spread moves in ways that the common macro story does not predict, which is usually a signal to look more carefully at the specific drivers at work in US Dollar Bull (UUP) or Trade-Weighted Dollar (Broad).
Is US Dollar Bull (UUP) a hedge for Trade-Weighted Dollar (Broad)?+
Peers like US Dollar Bull (UUP) and Trade-Weighted Dollar (Broad) do not hedge each other; both rise or fall with the shared asset class, and using the pair as a spread trade is different from using it as a hedge. Effective hedging requires matching the hedge to the specific risk being protected, and the US Dollar Bull (UUP)-Trade-Weighted Dollar (Broad) pair is best stress-tested under scenarios the investor most worries about before being sized into a real portfolio.
Related Comparisons
Data sourced from FRED, CoinGecko, CBOE, and other providers. This page is for informational purposes only and does not constitute financial advice. Past performance does not guarantee future results.