Malaysia FX Correlation Matrix Dashboard
Compare how major currencies have historically moved in relation to one another against the Malaysian Ringgit. This dashboard calculates correlation coefficients from Malaysia Open Data middle exchange-rate movements to highlight currency pairs that moved closely together, moved in opposite directions, or showed weaker historical relationship patterns.
Latest Available Date
14 Oct 2026
Malaysia Open Data source
Latest Session Used
1700 Hours
Most recent data update used
Observation Window
90 Days
Aligned returns dataset size
Currencies Analysed
17 Profiles
Total operational tracking codes
Full Historical Co-Movement Matrix
| Pair Matrix | USD | EUR | GBP | JPY | CNY | SGD | THB | IDR | VND | PHP | BND | AUD | NZD | CAD | CHF | KRW | INR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 1.00 | 0.36 | 0.30 | 0.35 | 0.94 | 0.75 | 0.23 | 0.35 | 0.70 | 0.52 | 0.75 | 0.25 | 0.08 | 0.54 | 0.08 | 0.13 | 0.61 |
| EUR | 0.36 | 1.00 | 0.74 | 0.47 | 0.50 | 0.73 | 0.57 | 0.50 | 0.30 | 0.47 | 0.73 | 0.66 | 0.68 | 0.62 | 0.63 | 0.31 | 0.35 |
| GBP | 0.30 | 0.74 | 1.00 | 0.48 | 0.41 | 0.64 | 0.35 | 0.26 | 0.21 | 0.33 | 0.63 | 0.57 | 0.60 | 0.54 | 0.55 | 0.32 | 0.26 |
| JPY | 0.35 | 0.47 | 0.48 | 1.00 | 0.38 | 0.71 | 0.50 | 0.31 | 0.30 | 0.47 | 0.71 | 0.42 | 0.43 | 0.46 | 0.51 | 0.28 | 0.36 |
| CNY | 0.94 | 0.50 | 0.41 | 0.38 | 1.00 | 0.82 | 0.37 | 0.41 | 0.67 | 0.57 | 0.82 | 0.42 | 0.24 | 0.57 | 0.20 | 0.17 | 0.63 |
| SGD | 0.75 | 0.73 | 0.64 | 0.71 | 0.82 | 1.00 | 0.63 | 0.58 | 0.52 | 0.66 | 1.00 | 0.63 | 0.52 | 0.68 | 0.53 | 0.38 | 0.59 |
| THB | 0.23 | 0.57 | 0.35 | 0.50 | 0.37 | 0.63 | 1.00 | 0.53 | 0.21 | 0.60 | 0.63 | 0.60 | 0.56 | 0.33 | 0.55 | 0.30 | 0.36 |
| IDR | 0.35 | 0.50 | 0.26 | 0.31 | 0.41 | 0.58 | 0.53 | 1.00 | 0.18 | 0.58 | 0.58 | 0.43 | 0.31 | 0.38 | 0.40 | 0.15 | 0.37 |
| VND | 0.70 | 0.30 | 0.21 | 0.30 | 0.67 | 0.52 | 0.21 | 0.18 | 1.00 | 0.29 | 0.52 | 0.17 | 0.08 | 0.44 | 0.08 | 0.09 | 0.33 |
| PHP | 0.52 | 0.47 | 0.33 | 0.47 | 0.57 | 0.66 | 0.60 | 0.58 | 0.29 | 1.00 | 0.66 | 0.35 | 0.26 | 0.31 | 0.34 | 0.25 | 0.55 |
| BND | 0.75 | 0.73 | 0.63 | 0.71 | 0.82 | 1.00 | 0.63 | 0.58 | 0.52 | 0.66 | 1.00 | 0.62 | 0.52 | 0.67 | 0.53 | 0.38 | 0.59 |
| AUD | 0.25 | 0.66 | 0.57 | 0.42 | 0.42 | 0.63 | 0.60 | 0.43 | 0.17 | 0.35 | 0.62 | 1.00 | 0.71 | 0.50 | 0.56 | 0.23 | 0.32 |
| NZD | 0.08 | 0.68 | 0.60 | 0.43 | 0.24 | 0.52 | 0.56 | 0.31 | 0.08 | 0.26 | 0.52 | 0.71 | 1.00 | 0.57 | 0.69 | 0.28 | 0.16 |
| CAD | 0.54 | 0.62 | 0.54 | 0.46 | 0.57 | 0.68 | 0.33 | 0.38 | 0.44 | 0.31 | 0.67 | 0.50 | 0.57 | 1.00 | 0.51 | 0.31 | 0.29 |
| CHF | 0.08 | 0.63 | 0.55 | 0.51 | 0.20 | 0.53 | 0.55 | 0.40 | 0.08 | 0.34 | 0.53 | 0.56 | 0.69 | 0.51 | 1.00 | 0.17 | 0.18 |
| KRW | 0.13 | 0.31 | 0.32 | 0.28 | 0.17 | 0.38 | 0.30 | 0.15 | 0.09 | 0.25 | 0.38 | 0.23 | 0.28 | 0.31 | 0.17 | 1.00 | 0.16 |
| INR | 0.61 | 0.35 | 0.26 | 0.36 | 0.63 | 0.59 | 0.36 | 0.37 | 0.33 | 0.55 | 0.59 | 0.32 | 0.16 | 0.29 | 0.18 | 0.16 | 1.00 |
Top 10 Strongest Positive Co-Movements
| Rank | Pair | Index | Days | Interpretation |
|---|---|---|---|---|
| #1 |
Singapore Dollar / Brunei Dollar SGD-BND |
1.00 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
| #2 |
US Dollar / Chinese Yuan USD-CNY |
0.94 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
| #3 |
Chinese Yuan / Brunei Dollar CNY-BND |
0.82 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
| #4 |
Chinese Yuan / Singapore Dollar CNY-SGD |
0.82 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
| #5 |
US Dollar / Brunei Dollar USD-BND |
0.75 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
| #6 |
US Dollar / Singapore Dollar USD-SGD |
0.75 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
| #7 |
Euro / British Pound EUR-GBP |
0.74 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
| #8 |
Euro / Brunei Dollar EUR-BND |
0.73 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
| #9 |
Euro / Singapore Dollar EUR-SGD |
0.73 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
| #10 |
Japanese Yen / Singapore Dollar JPY-SGD |
0.71 | 90 Days | Historical returns indicate that these two currencies moved in the same direction over the sample period. This pattern does not imply forward guidance or future assurance. |
Top 10 Strongest Negative Co-Movements
No negative correlation pairs were found within the current observation window.
ASEAN Regional Matrix Grid
| ASEAN Pair | SGD | THB | IDR | VND | PHP | BND |
|---|---|---|---|---|---|---|
| SGD | 1.00 | 0.63 | 0.58 | 0.52 | 0.66 | 1.00 |
| THB | 0.63 | 1.00 | 0.53 | 0.21 | 0.60 | 0.63 |
| IDR | 0.58 | 0.53 | 1.00 | 0.18 | 0.58 | 0.58 |
| VND | 0.52 | 0.21 | 0.18 | 1.00 | 0.29 | 0.52 |
| PHP | 0.66 | 0.60 | 0.58 | 0.29 | 1.00 | 0.66 |
| BND | 1.00 | 0.63 | 0.58 | 0.52 | 0.66 | 1.00 |
Individual Currency Relationship Profiles
US Dollar
(USD)
Most Aligned Counterparty
CNY (0.94)
Most Independent Counterparty
NZD (0.08)
Average Absolute Co-Movement
0.43
Business Relationship Interpretation:
Historical analysis shows that the US Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with CNY, while tracking with minimal alignment alongside NZD. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the US Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with CNY, while tracking with minimal alignment alongside NZD. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in USD may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Euro
(EUR)
Most Aligned Counterparty
GBP (0.74)
Most Independent Counterparty
VND (0.30)
Average Absolute Co-Movement
0.54
Business Relationship Interpretation:
Historical analysis shows that the Euro exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with GBP, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Euro exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with GBP, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in EUR may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
British Pound
(GBP)
Most Aligned Counterparty
EUR (0.74)
Most Independent Counterparty
VND (0.21)
Average Absolute Co-Movement
0.45
Business Relationship Interpretation:
Historical analysis shows that the British Pound exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with EUR, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the British Pound exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with EUR, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in GBP may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Japanese Yen
(JPY)
Most Aligned Counterparty
SGD (0.71)
Most Independent Counterparty
KRW (0.28)
Average Absolute Co-Movement
0.45
Business Relationship Interpretation:
Historical analysis shows that the Japanese Yen exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with SGD, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Japanese Yen exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with SGD, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in JPY may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Chinese Yuan
(CNY)
Most Aligned Counterparty
USD (0.94)
Most Independent Counterparty
KRW (0.17)
Average Absolute Co-Movement
0.51
Business Relationship Interpretation:
Historical analysis shows that the Chinese Yuan exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with USD, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Chinese Yuan exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with USD, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in CNY may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Singapore Dollar
(SGD)
Most Aligned Counterparty
BND (1.00)
Most Independent Counterparty
KRW (0.38)
Average Absolute Co-Movement
0.65
Business Relationship Interpretation:
Historical analysis shows that the Singapore Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with BND, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Singapore Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with BND, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in SGD may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Thai Baht
(THB)
Most Aligned Counterparty
BND (0.63)
Most Independent Counterparty
VND (0.21)
Average Absolute Co-Movement
0.46
Business Relationship Interpretation:
Historical analysis shows that the Thai Baht exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with BND, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Thai Baht exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with BND, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in THB may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Indonesian Rupiah
(IDR)
Most Aligned Counterparty
PHP (0.58)
Most Independent Counterparty
KRW (0.15)
Average Absolute Co-Movement
0.40
Business Relationship Interpretation:
Historical analysis shows that the Indonesian Rupiah exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with PHP, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Indonesian Rupiah exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with PHP, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in IDR may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Vietnamese Dong
(VND)
Most Aligned Counterparty
USD (0.70)
Most Independent Counterparty
CHF (0.08)
Average Absolute Co-Movement
0.32
Business Relationship Interpretation:
Historical analysis shows that the Vietnamese Dong exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with USD, while tracking with minimal alignment alongside CHF. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Vietnamese Dong exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with USD, while tracking with minimal alignment alongside CHF. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in VND may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Philippine Peso
(PHP)
Most Aligned Counterparty
BND (0.66)
Most Independent Counterparty
KRW (0.25)
Average Absolute Co-Movement
0.45
Business Relationship Interpretation:
Historical analysis shows that the Philippine Peso exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with BND, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Philippine Peso exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with BND, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in PHP may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Brunei Dollar
(BND)
Most Aligned Counterparty
SGD (1.00)
Most Independent Counterparty
KRW (0.38)
Average Absolute Co-Movement
0.65
Business Relationship Interpretation:
Historical analysis shows that the Brunei Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with SGD, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Brunei Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with SGD, while tracking with minimal alignment alongside KRW. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in BND may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Australian Dollar
(AUD)
Most Aligned Counterparty
NZD (0.71)
Most Independent Counterparty
VND (0.17)
Average Absolute Co-Movement
0.47
Business Relationship Interpretation:
Historical analysis shows that the Australian Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with NZD, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Australian Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with NZD, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in AUD may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
New Zealand Dollar
(NZD)
Most Aligned Counterparty
AUD (0.71)
Most Independent Counterparty
USD (0.08)
Average Absolute Co-Movement
0.42
Business Relationship Interpretation:
Historical analysis shows that the New Zealand Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with AUD, while tracking with minimal alignment alongside USD. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the New Zealand Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with AUD, while tracking with minimal alignment alongside USD. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in NZD may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Canadian Dollar
(CAD)
Most Aligned Counterparty
SGD (0.68)
Most Independent Counterparty
INR (0.29)
Average Absolute Co-Movement
0.48
Business Relationship Interpretation:
Historical analysis shows that the Canadian Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with SGD, while tracking with minimal alignment alongside INR. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Canadian Dollar exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with SGD, while tracking with minimal alignment alongside INR. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in CAD may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Swiss Franc
(CHF)
Most Aligned Counterparty
NZD (0.69)
Most Independent Counterparty
VND (0.08)
Average Absolute Co-Movement
0.41
Business Relationship Interpretation:
Historical analysis shows that the Swiss Franc exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with NZD, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Swiss Franc exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with NZD, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in CHF may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
South Korean Won
(KRW)
Most Aligned Counterparty
BND (0.38)
Most Independent Counterparty
VND (0.09)
Average Absolute Co-Movement
0.24
Business Relationship Interpretation:
Historical analysis shows that the South Korean Won exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with BND, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the South Korean Won exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with BND, while tracking with minimal alignment alongside VND. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in KRW may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Indian Rupee
(INR)
Most Aligned Counterparty
CNY (0.63)
Most Independent Counterparty
NZD (0.16)
Average Absolute Co-Movement
0.38
Business Relationship Interpretation:
Historical analysis shows that the Indian Rupee exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with CNY, while tracking with minimal alignment alongside NZD. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Historical analysis shows that the Indian Rupee exhibits varying historical cross-session adjustments relative to alternative pairs. Its closest historical connection was found with CNY, while tracking with minimal alignment alongside NZD. This behavior indicates unique distribution structures within recent trading cycles and does not explain underlying causation.
Risk Monitoring Guidance
Corporate treasuries handling transactions in INR may use these historical patterns to evaluate overall portfolio variance. When tracking diversified conversion layers, complement this index matrix with direct cash flow projections. Do not establish financial positions or directional assumptions solely on past correlation coefficients.
Exchange-rate information is obtained from Malaysia Open Data. Published middle exchange rates are provided for general reference only and do not represent commercial buying rates, selling rates, remittance rates, treasury rates, card rates, money changer rates, financial advice, forecasts, or proof of future currency movement.
Why Monitor FX Correlations?
Foreign-currency movements do not occur in isolation. Some currencies often move in similar directions against the Malaysian Ringgit, while others may move differently during the same observation period. A correlation matrix helps users compare these historical co-movement patterns across major international and ASEAN currencies.
For businesses involved in import, export, logistics, freight forwarding, commodity trading, procurement, or foreign-currency settlement, correlation analysis can provide useful context when reviewing currency exposure. For example, if two currencies have shown strong positive correlation during the selected historical window, their movements against MYR tended to align more closely during that period.
This dashboard is designed as a business-reference tool. It does not predict future exchange-rate direction, prove causation, or replace internal treasury, banking, accounting, or risk-management review.
How to Interpret the Correlation Matrix
Correlation values range from -1.00 to +1.00. A value closer to +1.00 indicates that two currencies historically tended to move in the same direction against MYR during the observation window. A value closer to -1.00 indicates that two currencies historically tended to move in opposite directions. A value near 0.00 indicates weaker historical co-movement.
The dashboard calculates correlation from daily percentage movements, not raw exchange-rate levels. This is important because correlation should measure movement patterns rather than simply comparing the size of exchange-rate numbers.
Correlation should always be interpreted cautiously. A strong historical correlation does not mean the same relationship will continue in the future, and a weak correlation does not mean two currencies are unrelated in all market conditions.
Data Notice: This dashboard uses middle exchange-rate data obtained from Malaysia Open Data. Results are provided for general business reference only and do not represent commercial buying rates, selling rates, remittance rates, treasury quotations, card rates, money changer rates, financial advice, forecasts, or proof of future currency movement.