Forex correlation table
Pick the pair you trade and see which pairs moved with it. Two trades on closely linked pairs are one bet with two labels.
90 daily bars
EURUSD and GBPUSD moved in the same direction most of the time (+0.84). Buying both is close to one trade of twice the size.
EURUSD and USDCHF moved in opposite directions most of the time (-0.74). Buying one and selling the other is also close to one trade of twice the size.
How EURUSD moved with the other pairs
- GBPUSDStrong, same way+0.84Strong, same way
- NZDUSDStrong, same way+0.75Strong, same way
- USDCHFStrong, opposite way-0.74Strong, opposite way
- USDCADSome, opposite way-0.68Some, opposite way
- AUDUSDSome, same way+0.53Some, same way
- EURCADSome, same way+0.52Some, same way
- USDJPYSome, opposite way-0.49Some, opposite way
- CADCHFSome, opposite way-0.42Some, opposite way
Strongest links in the whole table
Moved together
Moved opposite
The full table
Point at a square
Point at a square to read it. Green: moved together. Red: moved opposite. Stronger colour, stronger link.
Pearson correlation of bar-to-bar price changes over the newest 100 hourly or 90 daily closed bars, computed from our own price candles.
A measure of how prices moved together, not a promise that they keep doing so.
Words used here
- Correlation
- A number from -1 to +1 that says how often two prices moved in step. It is measured on past bars and changes over time.
- Positive (moved together)
- When one pair rose, the other usually rose too. EURUSD and GBPUSD are a common example.
- Negative (moved opposite)
- When one pair rose, the other usually fell. EURUSD and USDCHF are a common example, because USD is on opposite sides.
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