Futures correlations today
How closely the most traded futures move together: indices, crude, metals, Treasuries, the euro and bitcoin. Trade two highly correlated markets at once and you are really doubling the same bet.
Updated: Oct 18, 2026, 2:00 AM UTC
| ES | NQ | YM | RTY | CL | GC | SI | ZN | 6E | BTC | |
|---|---|---|---|---|---|---|---|---|---|---|
| ES | — | 0.92 | 0.83 | 0.80 | -0.58 | 0.32 | 0.41 | 0.36 | 0.24 | 0.33 |
| NQ | 0.92 | — | 0.60 | 0.75 | -0.53 | 0.29 | 0.44 | 0.22 | 0.17 | 0.34 |
| YM | 0.83 | 0.60 | — | 0.72 | -0.56 | 0.35 | 0.29 | 0.47 | 0.27 | 0.25 |
| RTY | 0.80 | 0.75 | 0.72 | — | -0.47 | 0.41 | 0.46 | 0.46 | 0.29 | 0.31 |
| CL | -0.58 | -0.53 | -0.56 | -0.47 | — | -0.08 | -0.07 | -0.30 | -0.00 | -0.23 |
| GC | 0.32 | 0.29 | 0.35 | 0.41 | -0.08 | — | 0.84 | 0.34 | 0.51 | 0.52 |
| SI | 0.41 | 0.44 | 0.29 | 0.46 | -0.07 | 0.84 | — | 0.29 | 0.41 | 0.51 |
| ZN | 0.36 | 0.22 | 0.47 | 0.46 | -0.30 | 0.34 | 0.29 | — | 0.27 | 0.25 |
| 6E | 0.24 | 0.17 | 0.27 | 0.29 | -0.00 | 0.51 | 0.41 | 0.27 | — | 0.35 |
| BTC | 0.33 | 0.34 | 0.25 | 0.31 | -0.23 | 0.52 | 0.51 | 0.25 | 0.35 | — |
Pearson correlation of daily returns. 1 = move together, 0 = unrelated, −1 = opposite directions. "·" = not enough data.
Key pairs
- ES – NQTwins0.92
- ES – YMTwins0.83
- ES – RTYModerate positive0.80
- NQ – RTYModerate positive0.75
- ES – ZNWeak positive0.36
- GC – SITwins0.84
- CL – ESModerate inverse-0.58
- GC – 6EModerate positive0.51
- BTC – NQWeak positive0.34
Why it matters to a futures trader
Correlation does not predict price: it tells you how much real risk you carry when you trade several markets.
Don't double the same bet
ES and NQ usually sit above 0.85. One position in each behaves almost like double size in one market: both stops get hit on the same candle. Count it that way against your daily loss limit.
Diversify for real
Pairs near 0 (gold against indices, crude against Treasuries in many periods) are the ones that spread risk. Two setups in independent markets reduce the day-to-day swings of your account.
Pick the window
30 sessions reacts fast to regime changes; 120 shows the stable relationship. When the 30-session value drifts far from the 120 one, the relationship is changing: don't trust what worked last month.
Frequently asked questions
What is the correlation between ES and NQ?
Very high: in most windows it is between 0.85 and 0.95, so they move almost together. Today's exact figure is in the matrix above, for 30, 60 and 120 sessions. It drops in weeks when tech decouples from the rest of the index.
What data is it based on?
Daily closing prices of continuous futures (Yahoo Finance) and the Pearson correlation of their daily returns over the last 30, 60 or 120 sessions. It is recalculated every 4 hours.
Why do some values change so much between windows?
Because relationships between markets are not fixed. Gold and the dollar, or bonds and equities, alternate between positive and negative correlation depending on the rate cycle and risk sentiment. The short window shows the current regime; the long one, the average.
What does the full version add?
The Jornalo app covers 30 futures (currencies, grains, livestock, energy, metals, crypto, bonds and indices), five windows from 30 to 180 sessions and a second trend-similarity matrix on price levels, plus pairs grouped by sector.
Price source: Yahoo Finance. Calculated by Jornalo. Information, not financial advice.
Guides
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