FX:CADJPY   Canadian Dollar / Japanese Yen
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Shorting the CAD/JPY and LONG ( GBP/JPY )

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Closing this pair with a profit on both legs.
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grats
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Nice work.
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UPDATE : Wanted to close the trade this morning as planned, but ratio is still above its 1 standard deviation.... perhaps in the next few hours or days .
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What is the total profit of this trade?
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Algokid charttrader
oops ...deleted by accident here we go. So I entered the short CAD/JPY @ 76.21 and the long GBP/JPY at 121.443
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Looking to close this trade sometime Monday, currently profitable on both legs
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You can graph this for a year using FXC and FXB perhaps and see what the correlation looks like. Very short term correlation is great for very short term trading. You will see that they do correlate very closely.
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the only risk here is IF the spread between the two pairs becomes wider. But with a correlation of over 90% i doubt this will happen. We shall see in a few days anyways
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The correlation in this pair is over 90 % , positive that is, meaning they move in the same direction most of the time. The the ratio is at a certain standard deviation from the mean, you enter a pair trade with the expectation that the ratio will go back to the mean . SP and VIX are inversely correlated ,so not the same thing at all.
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