EURGBP vs EURUSD Correlation

3M correlation of EURGBP vs EURUSD is 0.34, moderately together.

Long EURGBP and long EURUSD can be two tickets on a similar move when the reading is high. Tap another cell for a different pair URL.

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EURGBP vs EURUSD: 0.34, moderately together.

Pearson correlation of daily percent changes. Not a forecast and not your broker’s feed.

EURGBP and EURUSD correlation explained

EURGBP is the euro quoted in British pounds. EURUSD is the euro quoted in US dollars.

EURGBP and EURUSD share the same base currency, euro. A stronger EUR lifts both pairs. Dividing one by the other cancels the EUR leg: EURGBP ÷ EURUSD = the USD/GBP rate, so what pulls them apart is the USD against the GBP.

On the 3M window shown above, EURGBP vs EURUSD reads 0.34: moderately together.

How to use EURGBP EURUSD correlation for risk

  1. Pick a window. 1M reacts fast to news and is noisy; 3M is a common default; 6M and 1Y show the slower background link.
  2. Read the number. At 0.7 or above the two have moved strongly together, at minus 0.7 or below strongly opposite, and between minus 0.3 and 0.3 the link is weak or mixed.
  3. Size accordingly. If you plan to buy both EURGBP and EURUSD and the reading is strongly positive, treat them as one position and split your usual risk between them. A long in one and a short in the other on a strongly positive pair partly cancel out.

Common correlation mistakes

  • Treating correlation as a constant. It changes with news, central banks and market regimes, so recheck it before each trade.
  • Assuming correlated means the same size move. EURGBP and EURUSD can move in the same direction by different amounts, and their pip values differ, so size each one from its own stop.
  • Using a negative pair as a perfect hedge. A hedge that only works part of the time still costs two spreads.
  • Reading a 1M number right after a big event as the new normal. Compare it with 3M and 6M first.

Educational content, not investment advice. Trading leveraged products such as CFDs and forex carries a high risk of losing money.

Frequently Asked Questions

On the 3M window shown above, EURGBP vs EURUSD reads 0.34: moderately together. Correlation runs from minus 1 (always opposite) to plus 1 (always together). Switch between 1M, 3M, 6M and 1Y above for other windows.
EURGBP and EURUSD share the same base currency, euro. A stronger EUR lifts both pairs. Dividing one by the other cancels the EUR leg: EURGBP ÷ EURUSD = the USD/GBP rate, so what pulls them apart is the USD against the GBP. On the 3M window shown above, EURGBP vs EURUSD reads 0.34: moderately together.
On the 3M window, yes (0.34). Recheck a shorter window when the market regime changes.
If the reading is strongly positive and you want to buy both, treat them as one bigger position and split your usual risk between them. If it is strongly negative, a long in both partly offsets. Always size each trade from its own stop.
Shorter windows react faster and are noisier. 1M or 3M is a common default for active trading; 6M and 1Y show the slower background link. Correlation can flip around big news.
Pearson correlation of daily percent changes from daily ECB reference rates (via Frankfurter), used to rebuild each pair, over 1M (31 days), 3M (93 days), 6M (186 days), 1Y (370 days). It is a map of how they behaved, not a forecast or a broker quote.

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