Correlation analysis between pairs i trade based on the sample 10/28/2005 - 08/12/2011 (1511 obs).
GBPUSD | GBPNZD | EURUSD | EURJPY | |
GBPUSD | 1 | |||
GBPNZD | 0.6 | 1 | ||
EURUSD | 0.3 | -0.2 | 1 | |
EURJPY | 0.9 | 0.7 | 0.3 | 1 |
Notably, GBPUSD and EURJPY seem to move together most of the time. Also, EURJPY and GBPNZD are quite strongly bonded to move in the same direction. So that to keep in mind while considering trades!
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