Portfolio Analysis Tool

Forex Correlation Matrix

Visualize how 20+ currency pairs move in relation to each other. Identify hidden risks, hedging opportunities, and diversification gaps.

Time Period:

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Correlation:-1.0-0.50+0.5+1.0

	EUR/USD	GBP/USD	USD/JPY	USD/CHF	AUD/USD	NZD/USD	USD/CAD	EUR/GBP	EUR/JPY	GBP/JPY	EUR/CHF	AUD/JPY	CAD/JPY	NZD/JPY	GBP/CHF	AUD/NZD	EUR/AUD	GBP/AUD	EUR/CAD	GBP/CAD
EUR/USD	1.00	0.87	-0.31	-0.92	0.68	0.64	-0.55	0.42	0.55	0.49	0.62	0.48	0.22	0.47	0.45	0.12	0.38	0.21	0.71	0.62
GBP/USD	0.87	1.00	-0.18	-0.83	0.72	0.61	-0.62	-0.26	0.53	0.72	0.48	0.57	0.38	0.52	0.68	0.18	0.15	0.35	0.55	0.72
USD/JPY	-0.31	-0.18	1.00	0.44	0.22	0.18	0.35	-0.08	0.65	0.73	0.18	0.78	0.85	0.72	0.58	0.05	-0.32	-0.15	-0.12	0.08
USD/CHF	-0.92	-0.83	0.44	1.00	-0.65	-0.58	0.52	-0.38	-0.48	-0.38	-0.42	-0.38	-0.12	-0.35	-0.32	-0.15	-0.28	-0.18	-0.62	-0.55
AUD/USD	0.68	0.72	0.22	-0.65	1.00	0.88	-0.62	-0.05	0.58	0.62	0.42	0.82	0.48	0.78	0.52	0.28	-0.35	-0.22	0.45	0.48
NZD/USD	0.64	0.61	0.18	-0.58	0.88	1.00	-0.55	0.05	0.52	0.55	0.38	0.72	0.42	0.85	0.45	-0.22	-0.18	-0.12	0.42	0.42
USD/CAD	-0.55	-0.62	0.35	0.52	-0.62	-0.55	1.00	0.12	-0.22	-0.18	-0.32	-0.25	-0.28	-0.22	-0.28	-0.08	0.15	0.08	-0.72	-0.65
EUR/GBP	0.42	-0.26	-0.08	-0.38	-0.05	0.05	0.12	1.00	0.12	-0.32	0.35	-0.08	-0.15	-0.05	-0.38	-0.02	0.42	-0.15	0.35	-0.08
EUR/JPY	0.55	0.53	0.65	-0.48	0.58	0.52	-0.22	0.12	1.00	0.92	0.58	0.82	0.72	0.78	0.72	0.08	0.02	-0.08	0.48	0.52
GBP/JPY	0.49	0.72	0.73	-0.38	0.62	0.55	-0.18	-0.32	0.92	1.00	0.42	0.85	0.78	0.82	0.82	0.08	-0.12	0.05	0.38	0.55
EUR/CHF	0.62	0.48	0.18	-0.42	0.42	0.38	-0.32	0.35	0.58	0.42	1.00	0.35	0.22	0.32	0.42	0.05	0.18	0.02	0.45	0.35
AUD/JPY	0.48	0.57	0.78	-0.38	0.82	0.72	-0.25	-0.08	0.82	0.85	0.35	1.00	0.72	0.92	0.62	0.18	-0.32	-0.18	0.32	0.42
CAD/JPY	0.22	0.38	0.85	-0.12	0.48	0.42	-0.28	-0.15	0.72	0.78	0.22	0.72	1.00	0.68	0.55	0.05	-0.25	-0.12	0.08	0.22
NZD/JPY	0.47	0.52	0.72	-0.35	0.78	0.85	-0.22	-0.05	0.78	0.82	0.32	0.92	0.68	1.00	0.58	-0.12	-0.22	-0.12	0.32	0.38
GBP/CHF	0.45	0.68	0.58	-0.32	0.52	0.45	-0.28	-0.38	0.72	0.82	0.42	0.62	0.55	0.58	1.00	0.08	-0.05	0.15	0.28	0.48
AUD/NZD	0.12	0.18	0.05	-0.15	0.28	-0.22	-0.08	-0.02	0.08	0.08	0.05	0.18	0.05	-0.12	0.08	1.00	-0.22	-0.12	0.08	0.12
EUR/AUD	0.38	0.15	-0.32	-0.28	-0.35	-0.18	0.15	0.42	0.02	-0.12	0.18	-0.32	-0.25	-0.22	-0.05	-0.22	1.00	0.72	0.55	0.35
GBP/AUD	0.21	0.35	-0.15	-0.18	-0.22	-0.12	0.08	-0.15	-0.08	0.05	0.02	-0.18	-0.12	-0.12	0.15	-0.12	0.72	1.00	0.22	0.52
EUR/CAD	0.71	0.55	-0.12	-0.62	0.45	0.42	-0.72	0.35	0.48	0.38	0.45	0.32	0.08	0.32	0.28	0.08	0.55	0.22	1.00	0.82
GBP/CAD	0.62	0.72	0.08	-0.55	0.48	0.42	-0.65	-0.08	0.52	0.55	0.35	0.42	0.22	0.38	0.48	0.12	0.35	0.52	0.82	1.00

Strong Positive (+0.80 to +1.00)

These pairs move in the same direction. Trading both simultaneously doubles your exposure to the same market move. Example: EUR/USD and GBP/USD often have high positive correlation.

💡 Avoid doubling down — treat as one position for risk management.

Strong Negative (-0.80 to -1.00)

These pairs move in opposite directions. They can be used for hedging or to neutralize portfolio risk. Example: EUR/USD and USD/CHF are typically inversely correlated.

💡 Use for hedging — a long in one can offset losses in the other.

No Correlation (-0.20 to +0.20)

These pairs move independently. They provide genuine portfolio diversification. Example: EUR/USD and AUD/NZD may show low correlation.

💡 Best for diversification — positions are truly independent.