Currency ETFs are performing well so far in 2012, and through diversification, investors can use currency-focused ETFs to profit regardless of how the S&P 500 Index or the Dow Jones industrial average is performing, according to an article on The Street.

The report cited the CurrencyShares Australian Dollar ETF (NYSEArca: FXA) for its strong correlation to the SPDR S&P 500 ETF (NYSEArca: SPY). The article said FXA followed three-fourths of SPY’s upside movement, but at just three-fifths of SPY’s beta risk.

Even though many regard the CurrencyShares Japanese Yen ETF (NYSEArca: FXY) as a safe-haven choice, FXY shares no correlation to SPY whatsoever, according to the report.

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