Forex Correlation Table
See how closely currency pairs move together: correlations for 14 major and cross pairs over 1, 3, 6 or 12 months, plus a lookup that ranks every pair against the one you trade. Calculated from daily ECB reference rates.
Ranked from most positive to most negative over the period above.
TradingView watchlist with this pair, its 3 most positively and 3 most negatively correlated pairs.
What forex correlation means
Correlation measures how closely two currency pairs move together, on a scale from +1 to −1. At +1, two pairs rise and fall together every day; at −1, one rises exactly when the other falls; around 0 there’s no consistent relationship. The table uses the Pearson correlation of daily percentage changes over the period you choose.
| Value | Usually described as |
|---|---|
| 0.8 to 1.0 | Very strong positive: the pairs move almost as one |
| 0.6 to 0.8 | Strong positive |
| −0.2 to 0.2 | Little or no relationship |
| −0.6 to −0.8 | Strong negative |
| −0.8 to −1.0 | Very strong negative: the pairs move in opposite directions |
Many correlations come from a shared currency. EUR/USD and GBP/USD both have the dollar on the same side, so they tend to be positively correlated. EUR/USD and USD/CHF have the dollar on opposite sides, so they tend to move against each other.
How traders use correlation
- Avoiding doubled risk. Buying EUR/USD and GBP/USD together, when they’re strongly correlated, is close to one bigger position, not two separate ideas.
- Spotting hedges. A long position in one pair and a long position in a strongly negatively correlated pair partly offset each other.
- Noticing change. Correlations drift. Compare the 1-month and 1-year views: when a usually close relationship breaks down, something has changed in one of the currencies.
Correlation describes the past. It can change quickly, especially around central-bank decisions and major news. Use it as context, not as a forecast.
About the data
The table is calculated from the European Central Bank’s daily reference rates (via the open Frankfurter service), published once each working day. Pair prices are derived from those rates, so they’re indicative mid-rates rather than any one broker’s prices, and the table updates once a day. The number of trading days used and the latest date are shown above the table.
On TradingView, you can compare pairs directly by adding a second symbol to the chart (the Compare button), or add the built-in Correlation Coefficient indicator to track how the relationship changes over time.
See which single currency is driving the moves with the currency strength meter, or plan your size with the position size calculator.
Data: European Central Bank reference rates via Frankfurter. ChartWatch is independent and doesn’t give trading advice.
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