This interesting tool provides the correlations for the major currency pairs such that the trader can verify which pairs are moving more or less the same direction and which have an inverse type of relation (when the price of one rises the other falls and vice versa) at any given time. Likewise, they also include the XAU / USD (U.S. dollar against gold) and XAG / USD (Silver against the U.S. dollar) so it allows to monitor the behavior of these precious metals in relation to other currencies.
In this case, the correlations are shown based on percentages in tables as well as in graphical form for those who prefer this format to analyze information. The correlations and the graphics are shown at hourly, daily and monthly time periods which are suitable for both intraday traders and traders who prefer to trade based on longer periods.
The usefulness of this tool is that it allows to follow the currency pairs which prices are trading in the same direction or else the currency pairs which have the opposite behavior. In conjuntion with other analysis tools, it can help to predict the movements of the currency pairs in which we trade normally.