Disliked{quote} Thks for your reply, it seems to me that ring theory assumes there is a constant behaviour between the pairs enjoying the ring, i.e. if the ring is formed by eur/usd, usd/chf and eur/chf - buy, buy, sell - we well know that those pairs are usually correlated: eur/usd and usd/chf are inversely correlated and eur/usd and eur/chf are directly correlated; thus somehow we are back again into correlations concept. As well as correlations are not stable in long term, the same will be for this system.Ignored