36 of 36 pairs have sufficient data (≥30 daily closes). Scroll horizontally to see all pairs. Diagonal = 1.0 (self).
Forex Correlation Matrix
Interactive heatmap showing how 36 forex pairs move together. Correlation values from -1.0 (opposite) to +1.0 (identical).
●Correlation data refreshes every 5 min
| Pair | AUD/CHF | AUD/JPY | AUD/NZD | AUD/USD | CAD/JPY | CHF/JPY | EUR/AUD | EUR/CAD | EUR/CHF | EUR/GBP | EUR/JPY | EUR/NZD | EUR/USD | GBP/AUD | GBP/CAD | GBP/CHF | GBP/JPY | GBP/NZD | GBP/USD | NZD/JPY | NZD/USD | USD/BRL | USD/CAD | USD/CHF | USD/HKD | USD/INR | USD/JPY | USD/KRW | USD/MXN | USD/NOK | USD/PLN | USD/SEK | USD/SGD | USD/THB | USD/TRY | USD/ZAR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AUD/CHF | 1.00 | 0.16 | -0.59 | 0.45 | 0.05 | -0.54 | -0.23 | -0.17 | 0.74 | 0.05 | -0.26 | -0.72 | 0.41 | -0.01 | 0.13 | 0.62 | 0.15 | -0.48 | 0.29 | 0.52 | 0.44 | -0.30 | -0.46 | 0.42 | 0.40 | 0.27 | -0.35 | -0.82 | -0.36 | -0.18 | 0.26 | 0.07 | -0.18 | 0.34 | 0.63 | 0.27 |
| AUD/JPY | 0.16 | 1.00 | 0.07 | -0.09 | 0.88 | 0.74 | 0.01 | 0.16 | -0.18 | 0.49 | 0.20 | -0.36 | -0.12 | -0.51 | -0.42 | -0.30 | 0.50 | -0.44 | -0.48 | 0.76 | 0.39 | -0.58 | 0.24 | -0.38 | -0.47 | 0.48 | 0.07 | 0.11 | -0.09 | -0.49 | -0.26 | -0.34 | -0.24 | -0.20 | -0.38 | 0.09 |
| AUD/NZD | -0.59 | 0.07 | 1.00 | -0.35 | 0.01 | 0.45 | 0.39 | 0.37 | -0.80 | 0.03 | 0.10 | 0.83 | -0.15 | -0.36 | -0.37 | -0.65 | -0.30 | 0.44 | -0.14 | -0.60 | -0.55 | 0.21 | 0.37 | -0.30 | -0.35 | -0.39 | 0.06 | 0.78 | 0.22 | 0.11 | -0.28 | -0.05 | 0.20 | -0.39 | -0.64 | -0.02 |
| AUD/USD | 0.45 | -0.09 | -0.35 | 1.00 | -0.10 | -0.38 | -0.47 | 0.46 | -0.71 | 0.46 | 0.75 | -0.43 | 0.60 | 0.06 | 0.08 | 0.33 | -0.03 | -0.22 | 0.62 | 0.15 | 0.34 | -0.37 | -0.54 | 0.09 | 0.31 | 0.30 | 0.50 | -0.68 | -0.21 | -0.21 | 0.12 | -0.07 | -0.37 | 0.16 | 0.38 | 0.11 |
| CAD/JPY | 0.05 | 0.88 | 0.01 | -0.10 | 1.00 | 0.72 | -0.03 | 0.05 | -0.10 | 0.34 | 0.29 | -0.26 | -0.14 | -0.24 | -0.38 | -0.16 | 0.65 | -0.23 | -0.38 | 0.70 | 0.20 | -0.38 | 0.16 | -0.20 | -0.38 | 0.62 | 0.12 | 0.13 | 0.19 | -0.30 | -0.03 | -0.10 | -0.02 | 0.03 | -0.30 | 0.33 |
| CHF/JPY | -0.54 | 0.74 | 0.45 | -0.38 | 0.72 | 1.00 | 0.16 | 0.26 | -0.65 | 0.38 | 0.34 | 0.18 | -0.38 | -0.43 | -0.44 | -0.68 | 0.32 | -0.06 | -0.60 | 0.30 | 0.04 | -0.29 | 0.52 | -0.61 | -0.67 | 0.22 | 0.30 | 0.65 | 0.16 | -0.29 | -0.40 | -0.34 | -0.09 | -0.40 | -0.76 | -0.11 |
| EUR/AUD | -0.23 | 0.01 | 0.39 | -0.47 | -0.03 | 0.16 | 1.00 | 0.47 | 0.22 | 0.45 | -0.03 | 0.37 | 0.42 | -0.39 | -0.44 | -0.45 | -0.39 | -0.07 | 0.34 | -0.25 | -0.11 | 0.16 | -0.08 | -0.24 | -0.37 | -0.42 | -0.48 | 0.37 | -0.19 | -0.15 | -0.44 | -0.24 | -0.06 | -0.45 | -0.42 | 0.03 |
| EUR/CAD | -0.17 | 0.16 | 0.37 | 0.46 | 0.05 | 0.26 | 0.47 | 1.00 | -0.48 | 0.90 | 0.81 | 0.14 | 0.91 | -0.68 | -0.69 | -0.64 | -0.52 | -0.36 | 0.79 | -0.11 | 0.17 | -0.19 | -0.25 | -0.50 | -0.52 | -0.32 | 0.26 | 0.21 | -0.23 | -0.44 | -0.60 | -0.50 | -0.40 | -0.59 | -0.55 | 0.13 |
| EUR/CHF | 0.74 | -0.18 | -0.80 | -0.71 | -0.10 | -0.65 | 0.22 | -0.48 | 1.00 | -0.56 | -0.73 | -0.65 | -0.53 | 0.45 | 0.45 | 0.82 | 0.28 | -0.19 | -0.43 | 0.38 | 0.28 | -0.07 | 0.32 | 0.57 | 0.68 | 0.34 | -0.55 | -0.84 | -0.07 | 0.10 | 0.53 | 0.31 | -0.01 | 0.64 | 0.83 | 0.21 |
| EUR/GBP | 0.05 | 0.49 | 0.03 | 0.46 | 0.34 | 0.38 | 0.45 | 0.90 | -0.56 | 1.00 | 0.79 | -0.38 | 0.88 | -0.83 | -0.82 | -0.62 | -0.34 | -0.78 | 0.68 | 0.37 | 0.71 | -0.62 | -0.38 | -0.77 | -0.64 | 0.20 | 0.25 | -0.01 | -0.44 | -0.91 | -0.80 | -0.85 | -0.76 | -0.68 | -0.61 | -0.03 |
| EUR/JPY | -0.26 | 0.20 | 0.10 | 0.75 | 0.29 | 0.34 | -0.03 | 0.81 | -0.73 | 0.79 | 1.00 | 0.03 | 0.76 | 0.10 | 0.03 | -0.09 | 0.30 | 0.17 | 0.62 | 0.10 | -0.09 | -0.03 | -0.24 | -0.10 | -0.16 | 0.39 | 0.70 | 0.27 | 0.28 | 0.05 | 0.11 | 0.11 | 0.16 | 0.10 | -0.20 | -0.13 |
| EUR/NZD | -0.72 | -0.36 | 0.83 | -0.43 | -0.26 | 0.18 | 0.37 | 0.14 | -0.65 | -0.38 | 0.03 | 1.00 | -0.26 | 0.13 | 0.02 | -0.35 | -0.23 | 0.78 | 0.09 | -0.83 | -0.84 | 0.60 | 0.31 | 0.05 | -0.05 | -0.52 | 0.12 | 0.73 | 0.42 | 0.52 | 0.05 | 0.31 | 0.51 | -0.10 | -0.33 | -0.01 |
| EUR/USD | 0.41 | -0.12 | -0.15 | 0.60 | -0.14 | -0.38 | 0.42 | 0.91 | -0.53 | 0.88 | 0.76 | -0.26 | 1.00 | -0.18 | -0.20 | 0.12 | -0.30 | -0.29 | 0.94 | -0.00 | 0.31 | -0.34 | -0.63 | -0.03 | 0.15 | 0.11 | 0.08 | -0.59 | -0.36 | -0.35 | -0.12 | -0.23 | -0.47 | -0.08 | 0.20 | 0.20 |
| GBP/AUD | -0.01 | -0.51 | -0.36 | 0.06 | -0.24 | -0.43 | -0.39 | -0.68 | 0.45 | -0.83 | 0.10 | 0.13 | -0.18 | 1.00 | 0.88 | 0.78 | 0.49 | 0.68 | 0.52 | -0.17 | -0.50 | 0.54 | -0.30 | 0.75 | 0.67 | 0.09 | 0.24 | -0.21 | 0.46 | 0.77 | 0.83 | 0.79 | 0.63 | 0.80 | 0.72 | 0.08 |
| GBP/CAD | 0.13 | -0.42 | -0.37 | 0.08 | -0.38 | -0.44 | -0.44 | -0.69 | 0.45 | -0.82 | 0.03 | 0.02 | -0.20 | 0.88 | 1.00 | 0.77 | 0.46 | 0.55 | 0.49 | -0.09 | -0.35 | 0.40 | -0.26 | 0.68 | 0.67 | -0.02 | 0.24 | -0.26 | 0.22 | 0.69 | 0.73 | 0.66 | 0.50 | 0.69 | 0.76 | -0.17 |
| GBP/CHF | 0.62 | -0.30 | -0.65 | 0.33 | -0.16 | -0.68 | -0.45 | -0.64 | 0.82 | -0.62 | -0.09 | -0.35 | 0.12 | 0.78 | 0.77 | 1.00 | 0.48 | 0.23 | 0.58 | 0.19 | -0.11 | 0.24 | -0.53 | 0.85 | 0.77 | 0.24 | -0.03 | -0.67 | 0.13 | 0.49 | 0.81 | 0.66 | 0.38 | 0.84 | 0.96 | 0.24 |
| GBP/JPY | 0.15 | 0.50 | -0.30 | -0.03 | 0.65 | 0.32 | -0.39 | -0.52 | 0.28 | -0.34 | 0.30 | -0.23 | -0.30 | 0.49 | 0.46 | 0.48 | 1.00 | 0.24 | 0.03 | 0.60 | -0.11 | -0.04 | -0.06 | 0.37 | 0.19 | 0.58 | 0.31 | -0.09 | 0.37 | 0.29 | 0.57 | 0.45 | 0.39 | 0.60 | 0.34 | 0.17 |
| GBP/NZD | -0.48 | -0.44 | 0.44 | -0.22 | -0.23 | -0.06 | -0.07 | -0.36 | -0.19 | -0.78 | 0.17 | 0.78 | -0.29 | 0.68 | 0.55 | 0.23 | 0.24 | 1.00 | 0.39 | -0.64 | -0.92 | 0.69 | -0.00 | 0.49 | 0.37 | -0.22 | 0.28 | 0.41 | 0.61 | 0.83 | 0.57 | 0.72 | 0.77 | 0.46 | 0.19 | 0.06 |
| GBP/USD | 0.29 | -0.48 | -0.14 | 0.62 | -0.38 | -0.60 | 0.34 | 0.79 | -0.43 | 0.68 | 0.62 | 0.09 | 0.94 | 0.52 | 0.49 | 0.58 | 0.03 | 0.39 | 1.00 | -0.29 | -0.31 | 0.22 | -0.72 | 0.59 | 0.63 | -0.07 | -0.06 | -0.46 | 0.06 | 0.44 | 0.54 | 0.49 | 0.22 | 0.47 | 0.64 | 0.18 |
| NZD/JPY | 0.52 | 0.76 | -0.60 | 0.15 | 0.70 | 0.30 | -0.25 | -0.11 | 0.38 | 0.37 | 0.10 | -0.83 | -0.00 | -0.17 | -0.09 | 0.19 | 0.60 | -0.64 | -0.29 | 1.00 | 0.67 | -0.60 | -0.04 | -0.11 | -0.14 | 0.64 | 0.02 | -0.42 | -0.21 | -0.46 | -0.02 | -0.24 | -0.32 | 0.10 | 0.11 | 0.08 |
| NZD/USD | 0.44 | 0.39 | -0.55 | 0.34 | 0.20 | 0.04 | -0.11 | 0.17 | 0.28 | 0.71 | -0.09 | -0.84 | 0.31 | -0.50 | -0.35 | -0.11 | -0.11 | -0.92 | -0.31 | 0.67 | 1.00 | -0.78 | -0.17 | -0.53 | -0.30 | 0.36 | -0.16 | -0.53 | -0.70 | -0.86 | -0.56 | -0.76 | -0.86 | -0.42 | -0.10 | -0.26 |
| USD/BRL | -0.30 | -0.58 | 0.21 | -0.37 | -0.38 | -0.29 | 0.16 | -0.19 | -0.07 | -0.62 | -0.03 | 0.60 | -0.34 | 0.54 | 0.40 | 0.24 | -0.04 | 0.69 | 0.22 | -0.60 | -0.78 | 1.00 | 0.17 | 0.57 | 0.42 | -0.43 | 0.02 | 0.34 | 0.60 | 0.79 | 0.50 | 0.67 | 0.78 | 0.40 | 0.25 | 0.21 |
| USD/CAD | -0.46 | 0.24 | 0.37 | -0.54 | 0.16 | 0.52 | -0.08 | -0.25 | 0.32 | -0.38 | -0.24 | 0.31 | -0.63 | -0.30 | -0.26 | -0.53 | -0.06 | -0.00 | -0.72 | -0.04 | -0.17 | 0.17 | 1.00 | -0.29 | -0.49 | -0.34 | 0.30 | 0.69 | 0.14 | 0.03 | -0.29 | -0.13 | 0.18 | -0.33 | -0.54 | -0.12 |
| USD/CHF | 0.42 | -0.38 | -0.30 | 0.09 | -0.20 | -0.61 | -0.24 | -0.50 | 0.57 | -0.77 | -0.10 | 0.05 | -0.03 | 0.75 | 0.68 | 0.85 | 0.37 | 0.49 | 0.59 | -0.11 | -0.53 | 0.57 | -0.29 | 1.00 | 0.76 | -0.02 | -0.06 | -0.33 | 0.44 | 0.78 | 0.93 | 0.91 | 0.74 | 0.89 | 0.84 | 0.45 |
| USD/HKD | 0.40 | -0.47 | -0.35 | 0.31 | -0.38 | -0.67 | -0.37 | -0.52 | 0.68 | -0.64 | -0.16 | -0.05 | 0.15 | 0.67 | 0.67 | 0.77 | 0.19 | 0.37 | 0.63 | -0.14 | -0.30 | 0.42 | -0.49 | 0.76 | 1.00 | -0.08 | -0.11 | -0.47 | 0.17 | 0.59 | 0.69 | 0.64 | 0.39 | 0.70 | 0.84 | 0.11 |
| USD/INR | 0.27 | 0.48 | -0.39 | 0.30 | 0.62 | 0.22 | -0.42 | -0.32 | 0.34 | 0.20 | 0.39 | -0.52 | 0.11 | 0.09 | -0.02 | 0.24 | 0.58 | -0.22 | -0.07 | 0.64 | 0.36 | -0.43 | -0.34 | -0.02 | -0.08 | 1.00 | 0.20 | -0.30 | 0.08 | -0.30 | 0.15 | -0.02 | -0.13 | 0.27 | 0.08 | 0.27 |
| USD/JPY | -0.35 | 0.07 | 0.06 | 0.50 | 0.12 | 0.30 | -0.48 | 0.26 | -0.55 | 0.25 | 0.70 | 0.12 | 0.08 | 0.24 | 0.24 | -0.03 | 0.31 | 0.28 | -0.06 | 0.02 | -0.16 | 0.02 | 0.30 | -0.06 | -0.11 | 0.20 | 1.00 | 0.30 | 0.15 | 0.23 | 0.14 | 0.15 | 0.22 | 0.10 | -0.12 | -0.32 |
| USD/KRW | -0.82 | 0.11 | 0.78 | -0.68 | 0.13 | 0.65 | 0.37 | 0.21 | -0.84 | -0.01 | 0.27 | 0.73 | -0.59 | -0.21 | -0.26 | -0.67 | -0.09 | 0.41 | -0.46 | -0.42 | -0.53 | 0.34 | 0.69 | -0.33 | -0.47 | -0.30 | 0.30 | 1.00 | 0.42 | 0.21 | -0.22 | 0.01 | 0.36 | -0.32 | -0.72 | -0.10 |
| USD/MXN | -0.36 | -0.09 | 0.22 | -0.21 | 0.19 | 0.16 | -0.19 | -0.23 | -0.07 | -0.44 | 0.28 | 0.42 | -0.36 | 0.46 | 0.22 | 0.13 | 0.37 | 0.61 | 0.06 | -0.21 | -0.70 | 0.60 | 0.14 | 0.44 | 0.17 | 0.08 | 0.15 | 0.42 | 1.00 | 0.62 | 0.61 | 0.70 | 0.80 | 0.58 | 0.06 | 0.53 |
| USD/NOK | -0.18 | -0.49 | 0.11 | -0.21 | -0.30 | -0.29 | -0.15 | -0.44 | 0.10 | -0.91 | 0.05 | 0.52 | -0.35 | 0.77 | 0.69 | 0.49 | 0.29 | 0.83 | 0.44 | -0.46 | -0.86 | 0.79 | 0.03 | 0.78 | 0.59 | -0.30 | 0.23 | 0.21 | 0.62 | 1.00 | 0.81 | 0.91 | 0.89 | 0.69 | 0.50 | 0.16 |
| USD/PLN | 0.26 | -0.26 | -0.28 | 0.12 | -0.03 | -0.40 | -0.44 | -0.60 | 0.53 | -0.80 | 0.11 | 0.05 | -0.12 | 0.83 | 0.73 | 0.81 | 0.57 | 0.57 | 0.54 | -0.02 | -0.56 | 0.50 | -0.29 | 0.93 | 0.69 | 0.15 | 0.14 | -0.22 | 0.61 | 0.81 | 1.00 | 0.95 | 0.79 | 0.96 | 0.76 | 0.43 |
| USD/SEK | 0.07 | -0.34 | -0.05 | -0.07 | -0.10 | -0.34 | -0.24 | -0.50 | 0.31 | -0.85 | 0.11 | 0.31 | -0.23 | 0.79 | 0.66 | 0.66 | 0.45 | 0.72 | 0.49 | -0.24 | -0.76 | 0.67 | -0.13 | 0.91 | 0.64 | -0.02 | 0.15 | 0.01 | 0.70 | 0.91 | 0.95 | 1.00 | 0.91 | 0.88 | 0.62 | 0.44 |
| USD/SGD | -0.18 | -0.24 | 0.20 | -0.37 | -0.02 | -0.09 | -0.06 | -0.40 | -0.01 | -0.76 | 0.16 | 0.51 | -0.47 | 0.63 | 0.50 | 0.38 | 0.39 | 0.77 | 0.22 | -0.32 | -0.86 | 0.78 | 0.18 | 0.74 | 0.39 | -0.13 | 0.22 | 0.36 | 0.80 | 0.89 | 0.79 | 0.91 | 1.00 | 0.69 | 0.33 | 0.40 |
| USD/THB | 0.34 | -0.20 | -0.39 | 0.16 | 0.03 | -0.40 | -0.45 | -0.59 | 0.64 | -0.68 | 0.10 | -0.10 | -0.08 | 0.80 | 0.69 | 0.84 | 0.60 | 0.46 | 0.47 | 0.10 | -0.42 | 0.40 | -0.33 | 0.89 | 0.70 | 0.27 | 0.10 | -0.32 | 0.58 | 0.69 | 0.96 | 0.88 | 0.69 | 1.00 | 0.78 | 0.48 |
| USD/TRY | 0.63 | -0.38 | -0.64 | 0.38 | -0.30 | -0.76 | -0.42 | -0.55 | 0.83 | -0.61 | -0.20 | -0.33 | 0.20 | 0.72 | 0.76 | 0.96 | 0.34 | 0.19 | 0.64 | 0.11 | -0.10 | 0.25 | -0.54 | 0.84 | 0.84 | 0.08 | -0.12 | -0.72 | 0.06 | 0.50 | 0.76 | 0.62 | 0.33 | 0.78 | 1.00 | 0.18 |
| USD/ZAR | 0.27 | 0.09 | -0.02 | 0.11 | 0.33 | -0.11 | 0.03 | 0.13 | 0.21 | -0.03 | -0.13 | -0.01 | 0.20 | 0.08 | -0.17 | 0.24 | 0.17 | 0.06 | 0.18 | 0.08 | -0.26 | 0.21 | -0.12 | 0.45 | 0.11 | 0.27 | -0.32 | -0.10 | 0.53 | 0.16 | 0.43 | 0.44 | 0.40 | 0.48 | 0.18 | 1.00 |
Reading the Heatmap
Each cell shows the Pearson correlation coefficient between two forex pairs using daily close prices. The scale runs from -1.0 (perfect inverse — one goes up, the other down) through 0.0 (no relationship) to +1.0 (perfect positive — they move in lockstep).
| Correlation | Strength | Trading Implication |
|---|---|---|
| +0.80 to +1.00 | Strong positive | Near-identical — don't trade both in same direction |
| +0.50 to +0.79 | Moderate positive | Some overlap — size positions accordingly |
| -0.49 to +0.49 | Weak / none | Good diversification opportunity |
| -0.50 to -0.79 | Moderate negative | Pairs move opposite — potential hedging pair |
| -0.80 to -1.00 | Strong negative | Mirror inverse — ideal for pair hedging |
Common Correlation Patterns
EUR/USD + GBP/USD: Both are USD-denominated majors driven by similar macro factors (Fed policy, risk sentiment). Typical correlation: 0.75-0.90.
AUD/USD + NZD/USD: Commodity currency pairs tied to Asia-Pacific growth and resource demand. Typical correlation: 0.70-0.85.
USD/CHF vs EUR/USD: Swiss franc often mirrors euro due to SNB policy and geographic ties. Typical inverse correlation: -0.70 to -0.90.
USD/JPY + US yields: JPY weakens when US Treasury yields rise (carry trade flows). Not directly on this matrix but visible through USD/JPY's behavior relative to other USD pairs.
How We Compute It
Data comes from our own pipeline — daily close prices across all 36 forex pairs. We use Pearson correlation on the most recent closing prices. The matrix updates every 5 minutes as new price data arrives. Only pairs with at least 30 daily data points are included to ensure statistical reliability.
Frequently Asked Questions
What is a forex correlation matrix?
A correlation matrix shows how 36 forex pairs move relative to each other on a scale of -1.0 to +1.0. +1.0 means identical movement; -1.0 means opposite movement. Data comes from daily close prices in our pipeline.
Which forex pairs are most correlated?
EUR/USD and GBP/USD typically show 0.80+ correlation as USD-denominated majors. AUD/USD and NZD/USD are also highly correlated (0.75+) as commodity currencies. The heatmap shows exact current values.
How can I use correlation in trading?
Correlation helps avoid over-concentration. Trading EUR/USD and GBP/USD long together nearly doubles your USD exposure. Use the matrix to diversify across uncorrelated or negatively correlated pairs.
How often does the correlation matrix update?
The matrix is computed from daily close prices collected every 5 minutes via our data pipeline. Correlation values shift gradually over weeks as price relationships evolve.