FX Correlations

Check out this link:  http://www.forexticket.co.uk/en/tools/01-01-correlation

It helps to avoid additional risk and to improve your timing.

Following pairs are (based on daily price data)...

highly positively correlated:
EURUSD - GBPUSD (- EURJPY)
AUDUSD - NZDUSD

highly negatively correlated:
AUDUSD - USDCAD
NZDUSD - USDCAD

not significantly correlated to any of the big currency pairs:
USDJPY