Currencies correlation is the numerical measure of the relationship between two currency pairs.
The range of correlation coefficient is between -1 and +1. A correlation of +1 denotes
that two currency pairs flow in the same direction.
A correlation of -1 indicates that two currency pairs move in the contradictory direction 100% of the time,
whereas the correlation of zero denotes that the relationship between the currency pair is completely arbitrary.
▶️ 0.2 to 0.4 Weak, low correlation (not very significant)
▶️ 0.4 to 0.7 Moderate correlation
▶️ 0.7 to 0.9 Strong, high correlation
▶️ 0.9 to 1.0 Very strong correlation
▶️ -1 indicates that two currency pairs move in the contradictory direction 100% of the time.