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Trade it: How to play king dollar if ECB eases

Aris Messinis | AFP | Getty Images

The European Central Bank's Mario Draghi warned Thursday that downside risks are increasing and it may be necessary to revise monetary policy in March.

If he follows through on his talk it has the potential to tank the euro versus the U.S. dollar, reigniting the multiyear king dollar trade. CNBC Pro searched for the big winners and losers under this scenario.

Using Kensho, a hedge fund analytics tool, we looked at all the times when the euro fell by 5 percent versus the U.S. dollar in 90 days. This kind of decline has happened nine times since 2005.

Here are the top and bottom performers among stocks in the Dow Jones industrial average during those 90-day periods of euro declines.