Coinbase (COIN) Bitcoin Correlation

Name: Coinbase (COIN) correlation to Bitcoin
Creator: Trade The Cycle

Coinbase (COIN) closed at $182 with a correlation to bitcoin of 0.66, which is moderate positive correlation. That figure is measured on 90 days of daily returns as of Aug 26, 2026, and it moves as the window rolls forward.

Coinbase earns most of its revenue from trading fees, so it tracks crypto trading volume rather than the bitcoin price directly, and the two come apart in quiet markets.

Correlation measures whether two prices moved together, not whether one caused the other and not by how much. A company can hold bitcoin and still track it loosely, and a company that holds none can track it closely because both respond to the same conditions.