Instrument Correlation on Exness — Measured 60-Session Matrix
How the instruments on this feed move together, computed from daily closes on Exness’s MT5 history — 11 instruments, measured 2 Jul · 11:59 PKT.
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Two open positions in strongly correlated instruments behave like one position at double the size — the account is exposed to a single move twice. In this sample the most correlated pair was US500 (S&P 500) and USTEC (Nasdaq 100) at +0.91, and the most inverse was GBP/USD and USD/CAD at -0.63. A trader long both halves of a +0.9 pair holds one trade, not two.
Correlation of daily returns (last ~60 sessions)
| EURUSD | GBPUSD | USDJPY | AUDUSD | USDCAD | XAUUSD | USOIL | UKOIL | US500 | US30 | USTEC | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EURUSD | 1.00 | +0.85 | -0.47 | +0.79 | -0.60 | +0.61 | -0.32 | +0.09 | +0.57 | +0.50 | +0.46 |
| GBPUSD | +0.85 | 1.00 | -0.55 | +0.72 | -0.63 | +0.57 | -0.38 | +0.08 | +0.46 | +0.52 | +0.33 |
| USDJPY | -0.47 | -0.55 | 1.00 | -0.49 | +0.48 | -0.41 | +0.31 | +0.16 | -0.26 | -0.47 | -0.10 |
| AUDUSD | +0.79 | +0.72 | -0.49 | 1.00 | -0.58 | +0.72 | -0.39 | +0.04 | +0.76 | +0.68 | +0.64 |
| USDCAD | -0.60 | -0.63 | +0.48 | -0.58 | 1.00 | -0.40 | +0.10 | +0.03 | -0.33 | -0.30 | -0.17 |
| XAUUSD | +0.61 | +0.57 | -0.41 | +0.72 | -0.40 | 1.00 | -0.50 | +0.15 | +0.71 | +0.70 | +0.56 |
| USOIL | -0.32 | -0.38 | +0.31 | -0.39 | +0.10 | -0.50 | 1.00 | -0.09 | -0.37 | -0.58 | -0.23 |
| UKOIL | +0.09 | +0.08 | +0.16 | +0.04 | +0.03 | +0.15 | -0.09 | 1.00 | +0.06 | -0.14 | +0.16 |
| US500 | +0.57 | +0.46 | -0.26 | +0.76 | -0.33 | +0.71 | -0.37 | +0.06 | 1.00 | +0.77 | +0.91 |
| US30 | +0.50 | +0.52 | -0.47 | +0.68 | -0.30 | +0.70 | -0.58 | -0.14 | +0.77 | 1.00 | +0.52 |
| USTEC | +0.46 | +0.33 | -0.10 | +0.64 | -0.17 | +0.56 | -0.23 | +0.16 | +0.91 | +0.52 | 1.00 |
+1.00 = the instruments moved together every session; −1.00 = they moved opposite; near 0 = independent. Green = positive, red = negative; deeper colour = stronger link.
Read it with care
- 60 daily closes is a short window — treat values as indicative, not fixed.
- Correlations shift with the macro backdrop and can flip in stressed markets.
- Crypto instruments trade a 7-day week and are omitted — their daily series does not align bar-for-bar with 5-day markets.
- Correlation says nothing about direction — only about moving together.
Measured on an Exness MetaTrader 5 demo account — the broker’s own pricing feed and symbol specifications, recorded in-terminal and refreshed on a schedule. Demo and live accounts share the same pricing feed. All figures are indicative and change with market conditions.
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