Table 9 Correlation Matrices
From: Trading stocks following sharp movements in the USDX, GBP/USD, and USD/CNY
Panel A Correlation Matrix in terms of Bullish 50 and currencies | ||||
|---|---|---|---|---|
Bullish50 | USDX | GBP/USD | USD/CNY | |
Bullish50 | 1.000 | |||
USDX | 0.055 | 1.000 | ||
GBP/USD | 0.056 | 0.147 | 1.000 | |
USD/CNY | 0.084 | 0.317 | 0.789 | 1.000 |
Panel B Correlation Matrix in terms of Bullish 40 and currencies | ||||
Bullish40 | USDX | GBP/USD | USD/CNY | |
Bullish40 | 1.000 | |||
USDX | 0.021 | 1.000 | ||
GBP/USD | 0.002 | 0.098 | 1.000 | |
USD/CNY | 0.032 | 0.360 | 0.749 | 1.000 |
Panel C Correlation Matrix in terms of Bearish 50 and currencies | ||||
Bearish50 | USDX | GBP/USD | USD/CNY | |
Bearish50 | 1.000 | |||
USDX | 0.323 | 1.000 | ||
GBP/USD | −0.291 | −0.785 | 1.000 | |
USD/CNY | − 0.169 | 0.045 | 0.493 | 1.000 |
Panel D Correlation Matrix in terms of Bearish 40 and currencies | ||||
Bearish40 | USDX | GBP/USD | USD/CNY | |
Bearish40 | 1.000 | |||
USDX | 0.003 | 1.000 | ||
GBP/USD | 0.134 | −0.283 | 1.000 | |
USD/CNY | 0.054 | 0.396 | 0.640 | 1.000 |