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price correlation between fx and currency futures
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price correlation between fx and currency futures

  #1 (permalink)
Elite Member
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price correlation between fx and currency futures

What is the correlation, if any, between the price of the spot fx eurodollar, and the eurodollar futures contact(6E)? Does either meaningfully lag the other?

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  #3 (permalink)
Market Wizard
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podowitz View Post
What is the correlation, if any, between the price of the spot fx eurodollar, and the eurodollar futures contact(6E)? Does either meaningfully lag the other?

Imho correlation is effectively 1.0, some technical setups will show breaks by 1 or 2 pips in one but not the other, largely irrelevant, no meaningful lag, spot is the 'master' in terms of massive volumes, downside of watching a spot feed is monumental flickering noise. Just my 2c.

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  #4 (permalink)
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Thanks, Rat; I figured the same

This was my assumption, too, given the size and breadth of the global spot fx thing. I simply thought if there was some lag, the futures being derivative of the actual market (are they???), that a move in the forex might signal a subsequent move in the futures contract. I suspect that if it were true, somebody else would already be selling a course about it!

Thanks.

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  #5 (permalink)
Market Wizard
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podowitz View Post
This was my assumption, too, given the size and breadth of the global spot fx thing. I simply thought if there was some lag, the futures being derivative of the actual market (are they???), that a move in the forex might signal a subsequent move in the futures contract. I suspect that if it were true, somebody else would already be selling a course about it!

Right. Instantly arbitraged away by much bigger fish.

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podowitz View Post
What is the correlation, if any, between the price of the spot fx eurodollar, and the eurodollar futures contact(6E)? Does either meaningfully lag the other?

You can google forexticket, it provides an array of alot of information on correlation between fx currencies, futures & their weightings...

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  #7 (permalink)
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podowitz View Post
This was my assumption, too, given the size and breadth of the global spot fx thing. I simply thought if there was some lag, the futures being derivative of the actual market (are they???), that a move in the forex might signal a subsequent move in the futures contract. I suspect that if it were true, somebody else would already be selling a course about it!

Thanks.

A few years ago Carr wrote a trading system based on this concept. I never gave it a try, but looked interesting.

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