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Forex Currency Correlation
Indicative correlations across the 8 most-traded forex pairs. Use this to avoid doubling up exposure or unintentionally hedging yourself flat.
Correlation matrix
Each cell shows the typical correlation between two pairs from -1 (perfectly opposite) to +1 (perfectly together).
| EUR/USD | GBP/USD | USD/JPY | USD/CHF | AUD/USD | USD/CAD | NZD/USD | EUR/JPY | |
|---|---|---|---|---|---|---|---|---|
| EUR/USD | — | +0.80 | -0.30 | -0.95 | +0.60 | -0.55 | +0.55 | +0.50 |
| GBP/USD | +0.80 | — | -0.25 | -0.75 | +0.55 | -0.45 | +0.50 | +0.40 |
| USD/JPY | -0.30 | -0.25 | — | +0.40 | -0.10 | +0.35 | -0.05 | +0.65 |
| USD/CHF | -0.95 | -0.75 | +0.40 | — | -0.55 | +0.50 | -0.55 | -0.40 |
| AUD/USD | +0.60 | +0.55 | -0.10 | -0.55 | — | -0.40 | +0.85 | +0.40 |
| USD/CAD | -0.55 | -0.45 | +0.35 | +0.50 | -0.40 | — | -0.40 | -0.30 |
| NZD/USD | +0.55 | +0.50 | -0.05 | -0.55 | +0.85 | -0.40 | — | +0.40 |
| EUR/JPY | +0.50 | +0.40 | +0.65 | -0.40 | +0.40 | -0.30 | +0.40 | — |
Reading the colours
±+0.7 → +1.0 strong positive
±+0.3 → +0.7 mild positive
±−0.3 → +0.3 neutral
±−0.7 → −0.3 mild negative
±−1.0 → −0.7 strong negative
💡 Two highly positively correlated longs is one bigger trade, not two diversified ones. Two highly negatively correlated longs hedge each other and tie up margin for nothing. Check correlation before stacking positions.
⏳ Indicative historical correlations — actual values shift over time and across timeframes.
Diversify properly and earn cashback — add your broker account.
Add broker account →Educational reference, not live data or financial advice.