Block (XYZ) Bitcoin Correlation

Name: Block (XYZ) correlation to Bitcoin
Creator: Trade The Cycle

Block (XYZ) closed at $83 with a correlation to bitcoin of 0.28, which is very weak 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.

Block holds bitcoin on its balance sheet and sells it through Cash App, and also runs Square's merchant payments business, which has no crypto exposure.

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.