The Norwegian Crown vs the Swedish One

The Norwegian crown and the Swedish crown should have a high correlation, right? Right. The double Scandinavian currency is right. And but the matter of fact is that they are not that cool because one isdriven by oil and one is driven by proximity to the Eurozone or to rate. So while the market or the dealers, the banks, they price up 0.8 correlation, they are actually correlated to the magnitude of maybe 0.5.