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Forex Correlation
Correlation Calculator
 
Learning about forex correlation helps traders manage their portfolios more appropriately. Regardless of your trading strategy and whether you are looking to diversify your positions or find alternate pairs to leverage your view, it is very important to keep in mind the correlation between various currency pairs and their shifting trends

Symbol
  Period, days
 
 SymbolCorrelation
 AUDCAD   1.000000 
 NZDCAD   0.816071 
 NZDUSD   0.768165 
 NZDCHF   0.696424 
 NZDJPY   0.630666 
 AUDUSD   0.596826 
 AUDCHF   0.540000 
 EURSGD   0.533515 
 AUDJPY   0.505647 
 USDDKK   0.354186 
 USDEUR   0.337527 
 USDCAD   0.305869 
 EURNOK   0.286333 
 USDCHF   0.206915 
 USDJPY   0.194035 
 EURDKK   0.166202 
 BTCUSD   0.158854 
 USDGBP   0.143880 
 USDSGD   0.110015 
 USDNOK   0.089160 
 EURSEK   0.073823 
 CHFJPY   0.052690 
 GBPCAD   0.028093 
 GBPJPY   0.010715 
 USDCNH   0.004064 
 
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Education Stock Correlation - Explanation
Correlation is the statistical measure of the relationship between two currency pairs. The correlation coefficient ranges between -1 and +1. A correlation of +1 implies that the two currency pairs will move in the same direction 100% of the time. A correlation of -1 implies the two currency pairs will move in the opposite direction 100% of the time. A correlation of zero implies that the relationship between the currency pairs is completely random. Correlations do not always remain stable and can even change on a daily basis. Correlation analysis can help you to diversify your positions. Imperfect correlation between two different currency pairs allows for more diversification and marginally lower risk.



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