Forex Correlation Chart 2026
28 Currency Pairs | Free Diversification Tool
Painting • How to Read • Key Correlations • Strategies • FAQ
How to Use the Table
- Dark blue (+80 to +100) The pairs move together - BEWARE of the double risk!
- Dark red (-80 to -100) Opposing pairs - Perfect for hedging
- Grey (-30 to +30) Independent movements - Ideal for diversification
Golden rule : Avoid multiple positions on pairs correlated at +70 or more!
Legend of Correlations
Correlation Table - 28 Pairs
| Pair | EUR/USD | AUD/USD | GBP/USD | EUR/CAD | AUD/CAD | GBP/CAD | EUR/GBP | NZD/USD | NZD/CAD | AUD/NZD | CHF/JPY | AUD/JPY | EUR/NZD | EUR/JPY | AUD/CHF | GBP/NZD | GBP/JPY | NZD/JPY | USD/CAD | EUR/AUD | NZD/CHF | EUR/CHF | GBP/AUD | GBP/CHF | CAD/JPY | USD/JPY | CAD/CHF | USD/CHF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EUR/USD | 100 | 80 | 93 | 56 | 46 | 92 | -37 | 85 | 38 | 44 | 54 | 74 | -8 | 75 | 26 | 14 | 68 | 76 | -84 | -27 | 11 | 13 | -6 | 65 | 34 | -51 | -57 | -87 |
| AUD/USD | 80 | 100 | 68 | 49 | 85 | 74 | -14 | 97 | 73 | 76 | 18 | 91 | -61 | 43 | 74 | -34 | 35 | 84 | -63 | -79 | 56 | 38 | -59 | 67 | 16 | -65 | -33 | -57 |
| GBP/USD | 93 | 68 | 100 | 56 | 46 | 87 | -69 | 70 | 38 | 30 | 72 | 67 | -17 | 79 | 35 | 42 | 85 | 69 | -96 | -15 | -15 | -19 | 19 | 65 | 60 | -34 | -50 | -96 |
| EUR/CAD | 56 | 49 | 56 | 100 | 63 | 61 | 49 | 63 | 80 | 30 | -2 | 47 | -34 | 30 | 59 | -50 | 24 | 51 | -2 | -38 | 54 | 67 | -54 | 24 | -39 | -46 | -55 | -19 |
| AUD/CAD | 46 | 85 | 46 | 63 | 100 | 74 | -40 | 80 | 95 | 70 | -22 | 74 | -81 | 9 | 99 | -74 | 11 | 66 | -12 | -90 | 83 | 66 | -90 | 42 | -42 | -60 | -22 | -10 |
| GBP/CAD | 92 | 74 | 87 | 61 | 74 | 100 | -67 | 73 | 94 | 44 | 61 | 75 | -67 | 92 | 60 | 11 | 87 | 78 | -71 | -26 | 55 | -35 | 83 | 5 | -34 | -73 | -84 | - |
| EUR/GBP | -37 | -14 | -69 | 49 | -40 | -67 | 100 | -12 | -74 | -48 | -25 | -14 | -32 | -74 | -51 | -40 | -23 | -76 | 76 | -80 | -15 | -26 | 56 | 72 | -58 | -36 | -83 | -14 |
| NZD/USD | 85 | 97 | 70 | 63 | 80 | 73 | -12 | 100 | 77 | 75 | 18 | 85 | -60 | 45 | 69 | -35 | 29 | 95 | -65 | -70 | 57 | 41 | -52 | 70 | 0 | -69 | -34 | -59 |
| NZD/CAD | 38 | 73 | 38 | 80 | 95 | 94 | -74 | 77 | 100 | 39 | -34 | 48 | -83 | 9 | 75 | -84 | 0 | 44 | -23 | -79 | 90 | 76 | -88 | 37 | -54 | -60 | -18 | 2 |
| AUD/NZD | 44 | 76 | 30 | 30 | 70 | 44 | -48 | 75 | 39 | 100 | -14 | 77 | -41 | 15 | 77 | -21 | 25 | 63 | -37 | -77 | 33 | 17 | -57 | 38 | -20 | -35 | -20 | -34 |
| CHF/JPY | 54 | 18 | 72 | -2 | -22 | 61 | -25 | 18 | -34 | -14 | 100 | 34 | 78 | 97 | -4 | 47 | 39 | 55 | -68 | -26 | -61 | -62 | 55 | 14 | 90 | 36 | -62 | -81 |
| AUD/JPY | 74 | 91 | 67 | 47 | 74 | 75 | -14 | 85 | 48 | 77 | 34 | 100 | -49 | 60 | 74 | -19 | 65 | 95 | -69 | -71 | 40 | 22 | -58 | 61 | 29 | -27 | -39 | -58 |
| EUR/NZD | -8 | -61 | -17 | -34 | -81 | -67 | -32 | -60 | -83 | -41 | 78 | -49 | 100 | 27 | -90 | 86 | -84 | -68 | 1 | 90 | -28 | -34 | 50 | 51 | -21 | -21 | - | - |
| EUR/JPY | 75 | 43 | 79 | 30 | 9 | 92 | -74 | 45 | 9 | 15 | 97 | 60 | 27 | 100 | -13 | 47 | 92 | 73 | -69 | -7 | -28 | -19 | 29 | 41 | 76 | 19 | -61 | -79 |
| AUD/CHF | 26 | 74 | 35 | 59 | 99 | 60 | -51 | 69 | 75 | 77 | -4 | 74 | -90 | -13 | 100 | -84 | -29 | 52 | -1 | -93 | 94 | 76 | -95 | 48 | -51 | -58 | 15 | 14 |
| GBP/NZD | 14 | -34 | 42 | -50 | -74 | 11 | -40 | -35 | -84 | -21 | 47 | -19 | 86 | 47 | -84 | 100 | -16 | -44 | 70 | -93 | -79 | -92 | -58 | 0 | 44 | -24 | -52 | - |
| GBP/JPY | 68 | 35 | 85 | 24 | 11 | 87 | -23 | 29 | 0 | 25 | 39 | 65 | -84 | 92 | -29 | -16 | 100 | 61 | -82 | 14 | -46 | -46 | 48 | 43 | 90 | 21 | -50 | -86 |
| NZD/JPY | 76 | 84 | 69 | 51 | 66 | 78 | -76 | 95 | 44 | 63 | 55 | 95 | -68 | 73 | 52 | -44 | 61 | 100 | -63 | -58 | 38 | 21 | -36 | 62 | 36 | -20 | -42 | -60 |
| USD/CAD | -84 | -63 | -96 | -2 | -12 | -71 | 76 | -65 | -23 | -37 | -68 | -69 | 1 | -69 | -1 | 70 | -82 | -63 | 100 | 15 | 16 | 27 | -22 | -64 | -66 | 33 | 31 | 91 |
| EUR/AUD | -27 | -79 | -15 | -38 | -90 | -26 | -80 | -70 | -79 | -77 | -26 | -71 | 90 | -7 | -93 | 93 | 14 | -58 | 15 | 100 | -79 | -42 | 89 | -42 | -33 | 53 | -52 | - |
| NZD/CHF | 11 | 56 | -15 | 54 | 83 | 55 | -15 | 57 | 90 | 33 | -61 | 40 | -28 | -28 | 94 | -79 | -46 | 38 | 16 | -79 | 100 | 86 | -91 | 41 | -64 | -55 | 28 | 33 |
| EUR/CHF | 13 | 38 | -19 | 67 | 66 | -35 | -26 | 41 | 76 | 17 | -62 | 22 | -34 | -19 | 76 | -92 | -46 | 21 | 27 | -42 | 86 | 100 | -72 | 38 | -47 | -47 | 24 | 38 |
| GBP/AUD | -6 | -59 | 19 | -54 | -90 | 83 | 56 | -52 | -88 | -57 | 55 | -58 | 50 | 29 | -95 | 93 | 48 | -36 | -22 | 89 | -91 | -72 | 100 | -19 | 65 | 50 | -11 | -30 |
| GBP/CHF | 65 | 67 | 65 | 24 | 42 | 5 | 72 | 70 | 37 | 38 | 14 | 61 | 51 | 41 | 48 | 0 | 43 | 62 | -64 | -42 | 41 | 38 | -19 | 100 | 23 | -43 | 14 | -40 |
| CAD/JPY | 34 | 16 | 60 | -39 | -42 | -34 | -58 | 0 | -54 | -20 | 90 | 29 | -21 | 76 | -51 | 44 | 90 | 36 | -66 | -33 | -64 | -47 | 65 | 23 | 100 | 50 | -23 | -64 |
| USD/JPY | -51 | -65 | -34 | -46 | -60 | -73 | -36 | -69 | -60 | -35 | 36 | -27 | -21 | 19 | -58 | -24 | 21 | -20 | 33 | 53 | -55 | -47 | 50 | -43 | 50 | 100 | 52 | 4 |
| CAD/CHF | -57 | -33 | -50 | -55 | -22 | -84 | -83 | -34 | -18 | -20 | -62 | -39 | - | -61 | 15 | -52 | -50 | -42 | 31 | -52 | 28 | 24 | -11 | 14 | -23 | 52 | 100 | 56 |
| USD/CHF | -87 | -57 | -96 | -19 | -10 | - | -14 | -59 | 2 | -34 | -81 | -58 | - | -79 | 14 | - | -86 | -60 | 91 | - | 33 | 38 | -30 | -40 | -64 | 4 | 56 | 100 |
What is Forex Correlation?
Positive correlation (+80 to +100)
The pairs move in the same direction. For example, EUR/USD and GBP/USD share the US Dollar.
Negative Correlation (-80 to -100)
The pairs move in opposite directions. For example, EUR/USD and USD/CHF are inversely correlated.
Weak correlation (-30 to +30)
Independent movements - Ideal for diversifying your portfolio.
Common Beginner Mistake
Example : BUY EUR/USD + BUY GBP/USD (correlation +93) = you double your risk without diversifying!
It's like taking the same trade twice. Your actual risk isn't 2%, but 4%.
Most Important Correlations
Strong Positive Correlations
- EUR/USD and GBP/USD (+93) Share USD as counterparty
- AUD/USD and NZD/USD (+97) Neighboring economies linked
- AUD/CAD and AUD/CHF (+99) : Share AUD as a base
- EUR/JPY and CHF/JPY (+97) Share JPY as counterparty
Strong Negative Correlations (Hedging)
- EUR/USD and USD/CHF (-87) Perfect for hedging
- GBP/USD and USD/CAD (-96) : Near-perfect inverse correlation
- GBP/USD and USD/CHF (-96) Ideal for covering
- AUD/CHF and GBP/AUD (-95) : Completely opposite direction
Strategies with Correlations
Strategy 1: Hedging
Long position EUR/USD + Long position USD/CHF (correlation -87) = Capital protection.
Strategy 2: Diversification
Look for pairs with a correlation between -30 and +30 for true diversification.
Strategy 3: Divergence Trading
When AUD/USD rises but NZD/USD remains stable (normally +97), it is a catch-up opportunity.
FAQ - Forex Correlation
What correlation is needed for diversification?
Between -30 and +30. Ex: EUR/USD with AUD/NZD (+44) is better than EUR/USD + GBP/USD (+93).
Do the correlations change?
Yes ! A correlation of +90 can become +50 in a few months. Check regularly.
How to hedge effectively?
Use pairs with correlation < -70. Ex: EUR/USD + USD/CHF (-87).
Related Articles
Warning : Trading involves the risk of capital loss. 74-89% retail accounts lose money. Correlations change over time.