The so-called cross-modal correspondence effect is a special case of multisensory integration; it manifests as faster and more accurate responses to simultaneously presented stimuli of different modalities that are congruent in certain features (e.g., high-pitch sound – high spatial location), as opposed to incongruent ones. This study assessed the extent to which individual emotional characteristics – both transient (induced emotional states) and stable (cognitive strategies of emotional regulation) – could influence the mechanisms of this effect. We tested whether (1) specific psychophysiological variables (as biomarkers of induced emotional states) could predict the magnitude of the cross-modal (audiovisual) correspondence effect and (2) this magnitude could be related to manifestation of various emotion regulation strategies. Participants (N = 27) filled out an emotion regulation questionnaire and watched videos invoking positive, negative, or neutral emotional states before completing the main task, in which they were presented with tones of lower and higher frequency (1000 and 2000 Hz) and written words that differed in emotional valence and were associated with different parts of vertical space. Their task was to identify the pitch (low/high) of the presented sound. To assess participants’ emotional states psychophysiologically, electrical skin conductance and photoplethysmogram were recorded continuously throughout the experiment. Two way mixed ANOVA and linear regression were used for data analysis. We found that psychophysiological indices diverged depending on the intended valence (negative/positive) of emotional videos; however, they could not predict the magnitude of the cross-modal correspondence effect. Positive refocusing and rumination strategies predicted the dynamics of psychophysiological indicators, whilst none of emotion regulation strategies modulated the magnitude of the cross-modal correspondence effect. The present results should be taken with due caution in light of potential type II errors and are open to alternative interpretations, which should be addressed in future research.