Chained correlation inequalities involving pairwise correlations of qubit observables in the equatorial plane are constructed based on the positivity of a sequence of moment matrices. When a jointly measurable set of fuzzy POVMs is employed in first measurement of every pair of sequential measurements, the chained pairwise correlations do not violate the classical bound imposed by the moment matrix positivity. We identify that incompatibility of measurements is only necessary, but not sufficient, in general, for the violation of the inequality. On the other hand, there exists a one-to-one equivalence between the degree of incompatibility (which quantifies the joint measurability) of the equatorial qubit observables and the optimal violation of a non-local steering inequality, proposed by Jones and Wiseman (Phys. Rev. A, 84, 012110 (2011)). To this end, we construct a local analogue of this steering inequality in a single qubit system and show that its violation is a mere reflection of measurement incompatibility of equatorial qubit POVMs, employed in first measurements in the sequential unsharp-sharp scheme.
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