As you can see, the correlation co-efficiency factor in relation to EURCAD set-up is almost -1. Current conditions show opposite behavior, which could be used as confirmation for the other analysis or an extra set-up. In the second scenario, it's better to split the initial risk percentage, since the positions provide zero diversification.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.