Currency Correlation
See which pairs move together and where your hidden risk is.
- Latest data: September 18, 2026
- Source: European Central Bank
Correlation Matrix (last 3 Months)
Each cell shows the correlation between two pairs; green means they move together, red means opposite directions.
| EUR USD | GBP USD | USD JPY | USD CHF | USD CAD | AUD USD | NZD USD | |
|---|---|---|---|---|---|---|---|
| — | 0.88 | -0.46 | -0.89 | -0.72 | 0.68 | 0.74 | |
| 0.88 | — | -0.40 | -0.81 | -0.67 | 0.62 | 0.70 | |
| -0.46 | -0.40 | — | 0.49 | 0.42 | -0.28 | -0.37 | |
| -0.89 | -0.81 | 0.49 | — | 0.74 | -0.57 | -0.72 | |
| -0.72 | -0.67 | 0.42 | 0.74 | — | -0.54 | -0.70 | |
| 0.68 | 0.62 | -0.28 | -0.57 | -0.54 | — | 0.73 | |
| 0.74 | 0.70 | -0.37 | -0.72 | -0.70 | 0.73 | — |
Tap any pair name to see its correlation with every symbol across all timeframes.
Explore a Pair
Correlation of the selected pair with every other pair across all timeframes.
EUR/USD and GBP/USD have a +0.88 correlation; trading both in the same direction (e.g. buying both) is almost like doubling the size of one trade.
EUR/USD and USD/CHF have a -0.89 correlation; buying one and selling the other effectively stacks the same risk.
AUD/JPY moves almost independently of EUR/USD; combining them spreads your total account risk.
| Pair | 1 Month | 3 Months | 6 Months | 1 Year | Status (3 Months) |
|---|---|---|---|---|---|
| GBP/USD | +0.86 | +0.88 | +0.90 | +0.84 | Very strong positive |
| NZD/USD | +0.77 | +0.74 | +0.80 | +0.74 | Strong positive |
| AUD/USD | +0.62 | +0.68 | +0.77 | +0.70 | Strong positive |
| EUR/AUD | +0.13 | +0.19 | -0.11 | -0.01 | No meaningful correlation |
| EUR/JPY | -0.17 | +0.08 | +0.22 | +0.11 | No meaningful correlation |
| GBP/JPY | -0.24 | +0.06 | +0.22 | +0.06 | No meaningful correlation |
| EUR/GBP | +0.36 | +0.06 | -0.05 | +0.07 | No meaningful correlationStrengthening |
| AUD/JPY | -0.22 | -0.02 | +0.24 | +0.08 | No meaningful correlation |
| CAD/JPY | -0.13 | -0.10 | -0.14 | -0.26 | No meaningful correlation |
| GBP/CHF | -0.66 | -0.28 | -0.21 | -0.20 | Weak negativeStrengthening |
| EUR/CHF | -0.63 | -0.29 | -0.28 | -0.21 | Weak negativeStrengthening |
| AUD/NZD | -0.44 | -0.30 | -0.21 | -0.13 | Weak negativeStrengthening |
| USD/JPY | -0.54 | -0.46 | -0.48 | -0.58 | Moderate negative |
| USD/CAD | -0.82 | -0.72 | -0.66 | -0.62 | Strong negative |
| USD/CHF | -0.91 | -0.89 | -0.89 | -0.89 | Very strong negative |
“Strengthening” or “weakening” means the correlation over the last month differs noticeably from the last year.
EUR/USD vs USD/CHF Correlation Over Time
One-month (22 trading days) rolling correlation over the last year, showing how stable the relationship has been.
The green and red bands mark strong correlation (above 0.6 or below -0.6). Move over or tap the chart to see each day's value.
Check My Open Trades' Risk
Enter your open or planned trades to calculate their real combined risk using the last 3 Months correlations.
Risk per trade = % of the account lost if the stop-loss is hit.
An effective risk of 1.94% means your trades together behave roughly like a single trade with that risk; if they were fully independent it would be 1.41%.
Your largest risk is on USD (-2%). Positive means you profit if the currency strengthens; negative means you profit if it weakens.
This is an approximate analysis based on daily-return correlations and each trade's risk; in market stress, correlations can change suddenly.
Currency Strength
Which currencies strengthened or weakened against the other majors: each currency's average % change against the other 7.
Over the last 1 Month, JPY was the strongest and NZD the weakest currency, so NZD/JPY had the strongest trend.
Currency strength describes past market moves and isn't a trading signal; it's calculated from daily reference rates.
What Is Currency Correlation?
Currency correlation shows how closely two pairs move together. It ranges from -1 to +1: close to +1 means they usually move in the same direction, close to -1 means they move in opposite directions, and close to zero means there's no meaningful relationship.
This tool calculates Pearson correlation on the daily returns of the European Central Bank's reference rates, which is more reliable for risk management than comparing raw prices.
For prop traders, correlation is a hidden source of risk: several trades on correlated pairs can lose together on a single market move and breach the challenge's daily loss limit.
How to Read the Numbers
Know Your Hidden Risk
Buying EUR/USD and GBP/USD with 1% risk each is effectively close to 2% risk on the US dollar's move.
Consider Trade Direction
Negative correlation with opposite trades (e.g. buying EUR/USD and selling USD/CHF) behaves like positive correlation and stacks risk.
Correlation Isn't Fixed
Correlations shift with monetary policy and market conditions; always compare short-term and long-term timeframes.
Build Real Diversification
To lower total account risk, pick pairs with correlation near zero so one event doesn't hit all your trades at once.
Data comes from the European Central Bank's daily reference rates (via Frankfurter) and refreshes every few hours. Past correlation doesn't guarantee future market behavior; this tool is for educational purposes only.