Correlation Analysis
Apple Inc. vs Grayscale Bitcoin Trust ETF
AAPL vs GBTC
+0.786
Strong positive
When one moves up, the other tends to follow.
Apple Inc.
↗AAPL
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.
Market cap 3.8T
Grayscale Bitcoin Trust ETF
GBTC
Time Series
Relative Performance
Who Moves First
GBTC leads AAPL by 6 days
GBTC tends to move before AAPL.
After testing 13 timing shifts, the strongest relationship was +0.794 (they moved in the same direction).
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
-0.458
12 periods · Return correlation when both series rose
Both Falling
+0.140
7 periods · Return correlation when both series fell
Diverging
-0.659
16 periods · Return correlation when series moved apart
R-Squared
61.8%
Share of variance in one series explained by the other.
Trend Agreement
59.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,066
Deep shared window — 1,066 usable pairs.
Significance
p < 0.001
95% CI: [0.762, 0.808]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,066 paired data points survived the daily window.
Raw input
1,254
1,066
Normalized
1,254
1,066
Prepared
1,254
1,066
Aligned
1,066
1,066
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
188
A: 188 / B: 0
Series A
Apple Inc.
AAPL
Market cap 3.8T
Stock · 1,254 raw → 1,254 prepared
Series B
Grayscale Bitcoin Trust ETF
GBTC
Stock · 1,066 raw → 1,066 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
31
Estimated crossover points between normalized spreads.
Slope
0.5407
Linear regression slope.
Intercept
-61.6756
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 5 hours ago · ID: stock-aapl-vs-stock-gbtc-daily-20260408-zhagzl