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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   0.984732 
 NZDJPY   0.977053 
 NZDCHF   0.975453 
 NZDUSD   0.975174 
 AUDCHF   0.968558 
 AUDJPY   0.954631 
 AUDUSD   0.941941 
 USDCAD   0.777610 
 USDJPY   0.738319 
 USDCHF   0.618937 
 USDEUR   0.547376 
 USDDKK   0.545778 
 USDRUB   0.506969 
 USDGBP   0.250593 
 GBPCAD   0.194923 
 GBPCHF   0.129008 
 GBPJPY   0.116176 
 CHFJPY   0.050031 
 EURCAD   0.047088 
 EURRUB   0.046736 
 EURJPY   -0.038219 
 CADJPY   -0.097483 
 EURCHF   -0.138690 
 CADCHF   -0.173935 
 
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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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