Correlation matrix

A correlation matrix is a table where each cell shows the correlation coefficient between two assets, ranging from -1 (move oppositely) through 0 (no linear relationship) to +1 (move together). Laid out as a grid or heatmap, it gives a quick map of cross-asset relationships across bullion, FX, energy, and metals.

For a bullion trader, the matrix helps frame how gold, silver, USDINR, the dollar, and other markets relate over a chosen window. It can highlight which pairs are tightly linked and which are independent, informing hedging and diversification thinking.

Correlation measures historical co-movement in the selected sample; it does not prove causation, future continuation, or hedge safety. Each cell is one snapshot over one window, so it is read as a starting point for rolling and regime checks rather than a conclusion.