Pair relationship map
Currency Correlation
See which forex pairs move together (+) or opposite (−). Avoid doubling risk on hidden duplicates — or hedge with negatively correlated pairs.
| EURUSD | GBPUSD | AUDUSD | NZDUSD | USDJPY | USDCHF | USDCAD | EURJPY | GBPJPY | |
|---|---|---|---|---|---|---|---|---|---|
| EUR/USD | — | +86% | +74% | +70% | -44% | -92% | -64% | +58% | +51% |
| GBP/USD | +86% | — | +67% | +63% | -40% | -86% | -60% | +54% | +61% |
| AUD/USD | +74% | +67% | — | +91% | -38% | -70% | -47% | +41% | +35% |
| NZD/USD | +70% | +63% | +91% | — | -34% | -66% | -44% | +38% | +31% |
| USD/JPY | -44% | -40% | -38% | -34% | — | +55% | +50% | +80% | +84% |
| USD/CHF | -92% | -86% | -70% | -66% | +55% | — | +73% | -48% | -44% |
| USD/CAD | -64% | -60% | -47% | -44% | +50% | +73% | — | -30% | -27% |
| EUR/JPY | +58% | +54% | +41% | +38% | +80% | -48% | -30% | — | +93% |
| GBP/JPY | +51% | +61% | +35% | +31% | +84% | -44% | -27% | +93% | — |
−100%
+100%· opposite ← → together
Moves with EUR/USD
Positive correlation: similar directional risk
- GBP/USD+86%
- AUD/USD+74%
- NZD/USD+70%
Opposite to EUR/USD
Negative correlation: potential hedge candidates
- USD/CHF-92%
+1.00 = lockstep
EUR/USD and GBP/USD often cluster above +0.8. Long both ≈ doubled euro-zone exposure.
−1.00 = mirror
EUR/USD vs USD/CHF frequently inverse. One long + one long on the mirror pair can cancel out.
Mandate context
Kodiac mandate desks use defined risk parameters — correlation still matters if you run multiple manual positions outside a desk.
Illustrative rolling correlations for education — not a live data feed. Values shift with volatility regimes. Use alongside position sizing and desk register for verified mandate-desk results.
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Mandate desks, defined risk
Defined risk parameters — you don’t have to manually hedge every correlated pair.
Systematic desk execution