{
  "study": "average-daily-range",
  "title": "Average Daily Range: 25 Markets Compared (Forex, Gold, Indices, Crypto)",
  "description": "EUR/USD moves 91 pips a day; ETH/USD moves 6.50% of its price. Average daily range for 25 markets on one comparable scale, from Dukascopy daily bars.",
  "source": "https://fxbacktest.app/research/average-daily-range/",
  "publisher": "FxBacktest",
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "attribution": "FxBacktest, https://fxbacktest.app/research/average-daily-range/",
  "datePublished": "2026-07-28",
  "dateModified": "2026-09-08",
  "generated": "2026-09-18",
  "tables": [
    {
      "id": "average-daily-range-ranked-by-percentage",
      "caption": "Average daily range, ranked by percentage of price — all 25 instruments",
      "captionSource": "caption",
      "columns": [
        "#",
        "Instrument",
        "Class",
        "Avg range (% of price)",
        "Median (%)",
        "90th pct (%)",
        "Avg range (pips / points)",
        "Days",
        "Window"
      ],
      "rowCount": 25,
      "rows": [
        {
          "#": 1,
          "Instrument": "ETH/USD",
          "Class": "Crypto",
          "Avg range (% of price)": 6.5,
          "Median (%)": 5.33,
          "90th pct (%)": 11.46,
          "Avg range (pips / points)": 109.2,
          "Days": 2560,
          "Window": "2017-12 → 2026-07"
        },
        {
          "#": 2,
          "Instrument": "BTC/USD",
          "Class": "Crypto",
          "Avg range (% of price)": 5.06,
          "Median (%)": 4.04,
          "90th pct (%)": 9.36,
          "Avg range (pips / points)": 1721.8,
          "Days": 2703,
          "Window": "2017-05 → 2026-07"
        },
        {
          "#": 3,
          "Instrument": "TSLA",
          "Class": "Stock",
          "Avg range (% of price)": 4.17,
          "Median (%)": 3.75,
          "90th pct (%)": 6.35,
          "Avg range (pips / points)": 1262.2,
          "Days": 769,
          "Window": "2023-07 → 2026-07"
        },
        {
          "#": 4,
          "Instrument": "NVDA",
          "Class": "Stock",
          "Avg range (% of price)": 3.41,
          "Median (%)": 2.99,
          "90th pct (%)": 5.5,
          "Avg range (pips / points)": 1028.3,
          "Days": 769,
          "Window": "2023-07 → 2026-07"
        },
        {
          "#": 5,
          "Instrument": "Brent crude",
          "Class": "Commodity",
          "Avg range (% of price)": 3.01,
          "Median (%)": 2.5,
          "90th pct (%)": 5.1,
          "Avg range (pips / points)": 217,
          "Days": 3852,
          "Window": "2010-12 → 2026-07"
        },
        {
          "#": 6,
          "Instrument": "Silver (XAG/USD)",
          "Class": "Commodity",
          "Avg range (% of price)": 2.74,
          "Median (%)": 2.24,
          "90th pct (%)": 4.61,
          "Avg range (pips / points)": 802.4,
          "Days": 4005,
          "Window": "2011-02 → 2026-07"
        },
        {
          "#": 7,
          "Instrument": "AAPL",
          "Class": "Stock",
          "Avg range (% of price)": 2.05,
          "Median (%)": 1.75,
          "90th pct (%)": 3.45,
          "Avg range (pips / points)": 403.6,
          "Days": 2383,
          "Window": "2017-02 → 2026-07"
        },
        {
          "#": 8,
          "Instrument": "US100 (Nasdaq)",
          "Class": "Index",
          "Avg range (% of price)": 1.69,
          "Median (%)": 1.41,
          "90th pct (%)": 3.01,
          "Avg range (pips / points)": 196.1,
          "Days": 3411,
          "Window": "2013-05 → 2026-07"
        },
        {
          "#": 9,
          "Instrument": "GER40 (DAX)",
          "Class": "Index",
          "Avg range (% of price)": 1.57,
          "Median (%)": 1.31,
          "90th pct (%)": 2.68,
          "Avg range (pips / points)": 217.5,
          "Days": 3305,
          "Window": "2013-09 → 2026-07"
        },
        {
          "#": 10,
          "Instrument": "Gold (XAU/USD)",
          "Class": "Commodity",
          "Avg range (% of price)": 1.44,
          "Median (%)": 1.23,
          "90th pct (%)": 2.37,
          "Avg range (pips / points)": 2714.8,
          "Days": 4419,
          "Window": "2009-07 → 2026-07"
        },
        {
          "#": 11,
          "Instrument": "US500 (S&P)",
          "Class": "Index",
          "Avg range (% of price)": 1.31,
          "Median (%)": 1.04,
          "90th pct (%)": 2.35,
          "Avg range (pips / points)": 47.2,
          "Days": 3399,
          "Window": "2013-05 → 2026-07"
        },
        {
          "#": 12,
          "Instrument": "US30 (Dow)",
          "Class": "Index",
          "Avg range (% of price)": 1.26,
          "Median (%)": 1.02,
          "90th pct (%)": 2.24,
          "Avg range (pips / points)": 364.5,
          "Days": 3412,
          "Window": "2013-05 → 2026-07"
        },
        {
          "#": 13,
          "Instrument": "AUD/JPY",
          "Class": "Forex cross",
          "Avg range (% of price)": 1.1,
          "Median (%)": 0.95,
          "90th pct (%)": 1.8,
          "Avg range (pips / points)": 95.3,
          "Days": 4193,
          "Window": "2010-06 → 2026-07"
        },
        {
          "#": 14,
          "Instrument": "NZD/CHF",
          "Class": "Forex cross",
          "Avg range (% of price)": 1.01,
          "Median (%)": 0.88,
          "90th pct (%)": 1.59,
          "Avg range (pips / points)": 66,
          "Days": 4195,
          "Window": "2010-06 → 2026-07"
        },
        {
          "#": 15,
          "Instrument": "AUD/USD",
          "Class": "Forex major",
          "Avg range (% of price)": 0.98,
          "Median (%)": 0.88,
          "90th pct (%)": 1.59,
          "Avg range (pips / points)": 77,
          "Days": 4195,
          "Window": "2010-06 → 2026-07"
        },
        {
          "#": 16,
          "Instrument": "GBP/JPY",
          "Class": "Forex cross",
          "Avg range (% of price)": 0.96,
          "Median (%)": 0.84,
          "90th pct (%)": 1.59,
          "Avg range (pips / points)": 150.3,
          "Days": 4193,
          "Window": "2010-06 → 2026-07"
        },
        {
          "#": 17,
          "Instrument": "EUR/JPY",
          "Class": "Forex cross",
          "Avg range (% of price)": 0.89,
          "Median (%)": 0.76,
          "90th pct (%)": 1.5,
          "Avg range (pips / points)": 116.4,
          "Days": 4194,
          "Window": "2010-06 → 2026-07"
        },
        {
          "#": 18,
          "Instrument": "CAD/CHF",
          "Class": "Forex cross",
          "Avg range (% of price)": 0.87,
          "Median (%)": 0.75,
          "90th pct (%)": 1.4,
          "Avg range (pips / points)": 68.1,
          "Days": 4320,
          "Window": "2010-01 → 2026-07"
        },
        {
          "#": 19,
          "Instrument": "GBP/USD",
          "Class": "Forex major",
          "Avg range (% of price)": 0.8,
          "Median (%)": 0.7,
          "90th pct (%)": 1.26,
          "Avg range (pips / points)": 110.5,
          "Days": 4252,
          "Window": "2010-04 → 2026-07"
        },
        {
          "#": 20,
          "Instrument": "USD/JPY",
          "Class": "Forex major",
          "Avg range (% of price)": 0.8,
          "Median (%)": 0.69,
          "90th pct (%)": 1.36,
          "Avg range (pips / points)": 92.5,
          "Days": 4194,
          "Window": "2010-06 → 2026-07"
        },
        {
          "#": 21,
          "Instrument": "EUR/USD",
          "Class": "Forex major",
          "Avg range (% of price)": 0.76,
          "Median (%)": 0.67,
          "90th pct (%)": 1.28,
          "Avg range (pips / points)": 90.7,
          "Days": 4252,
          "Window": "2010-04 → 2026-07"
        },
        {
          "#": 22,
          "Instrument": "AUD/CAD",
          "Class": "Forex cross",
          "Avg range (% of price)": 0.76,
          "Median (%)": 0.68,
          "90th pct (%)": 1.18,
          "Avg range (pips / points)": 72.2,
          "Days": 4320,
          "Window": "2010-01 → 2026-07"
        },
        {
          "#": 23,
          "Instrument": "USD/CAD",
          "Class": "Forex major",
          "Avg range (% of price)": 0.69,
          "Median (%)": 0.61,
          "90th pct (%)": 1.13,
          "Avg range (pips / points)": 84.6,
          "Days": 4252,
          "Window": "2010-04 → 2026-07"
        },
        {
          "#": 24,
          "Instrument": "EUR/GBP",
          "Class": "Forex cross",
          "Avg range (% of price)": 0.68,
          "Median (%)": 0.59,
          "90th pct (%)": 1.11,
          "Avg range (pips / points)": 57.1,
          "Days": 4193,
          "Window": "2010-06 → 2026-07"
        },
        {
          "#": 25,
          "Instrument": "EUR/CHF",
          "Class": "Forex cross",
          "Avg range (% of price)": 0.53,
          "Median (%)": 0.42,
          "90th pct (%)": 0.95,
          "Avg range (pips / points)": 57.8,
          "Days": 4193,
          "Window": "2010-06 → 2026-07"
        }
      ]
    },
    {
      "id": "average-daily-range-by-asset-class",
      "caption": "Average daily range by asset class",
      "captionSource": "caption",
      "columns": [
        "Asset class",
        "Instruments",
        "Mean daily range",
        "Lowest",
        "Highest"
      ],
      "rowCount": 6,
      "rows": [
        {
          "Asset class": "Crypto",
          "Instruments": 2,
          "Mean daily range": 5.78,
          "Lowest": 5.06,
          "Highest": 6.5
        },
        {
          "Asset class": "Stock",
          "Instruments": 3,
          "Mean daily range": 3.21,
          "Lowest": 2.05,
          "Highest": 4.17
        },
        {
          "Asset class": "Commodity",
          "Instruments": 3,
          "Mean daily range": 2.4,
          "Lowest": 1.44,
          "Highest": 3.01
        },
        {
          "Asset class": "Index",
          "Instruments": 4,
          "Mean daily range": 1.46,
          "Lowest": 1.26,
          "Highest": 1.69
        },
        {
          "Asset class": "Forex cross",
          "Instruments": 8,
          "Mean daily range": 0.85,
          "Lowest": 0.53,
          "Highest": 1.1
        },
        {
          "Asset class": "Forex major",
          "Instruments": 5,
          "Mean daily range": 0.81,
          "Lowest": 0.69,
          "Highest": 0.98
        }
      ]
    },
    {
      "id": "average-daily-range-by-calendar-year",
      "caption": "Average daily range by calendar year (% of price) — 2026 is year-to-date",
      "captionSource": "caption",
      "columns": [
        "Instrument",
        "2019",
        "2020",
        "2021",
        "2022",
        "2023",
        "2024",
        "2025",
        "2026"
      ],
      "rowCount": 7,
      "rows": [
        {
          "2019": 0.49,
          "2020": 0.73,
          "2021": 0.53,
          "2022": 0.97,
          "2023": 0.71,
          "2024": 0.56,
          "2025": 0.72,
          "2026": 0.57,
          "Instrument": "EUR/USD"
        },
        {
          "2019": 0.79,
          "2020": 1.01,
          "2021": 0.66,
          "2022": 1.1,
          "2023": 0.8,
          "2024": 0.61,
          "2025": 0.69,
          "2026": 0.66,
          "Instrument": "GBP/USD"
        },
        {
          "2019": 0.53,
          "2020": 0.66,
          "2021": 0.52,
          "2022": 1.02,
          "2023": 0.93,
          "2024": 0.91,
          "2025": 0.89,
          "2026": 0.6,
          "Instrument": "USD/JPY"
        },
        {
          "2019": 1.09,
          "2020": 1.71,
          "2021": 1.31,
          "2022": 1.41,
          "2023": 1.21,
          "2024": 1.37,
          "2025": 1.71,
          "2026": 2.82,
          "Instrument": "Gold (XAU/USD)"
        },
        {
          "2019": 1.11,
          "2020": 2.33,
          "2021": 1.19,
          "2022": 2.2,
          "2023": 1.22,
          "2024": 1.1,
          "2025": 1.42,
          "2026": 1.32,
          "Instrument": "US500 (S&P)"
        },
        {
          "2019": 1.45,
          "2020": 2.68,
          "2021": 1.65,
          "2022": 2.91,
          "2023": 1.66,
          "2024": 1.58,
          "2025": 1.83,
          "2026": 1.97,
          "Instrument": "US100 (Nasdaq)"
        },
        {
          "2019": 5.11,
          "2020": 5.22,
          "2021": 6.89,
          "2022": 4.9,
          "2023": 3.41,
          "2024": 4.33,
          "2025": 3.43,
          "2026": 3.69,
          "Instrument": "BTC/USD"
        }
      ]
    }
  ]
}