Correlation Analysis
Amazon.Com Inc vs Coinbase Global, Inc. Class A Common Stock
AMZN vs COIN
+0.850
Strong positive
When one moves up, the other tends to follow.
Amazon.Com Inc
↗AMZN
Amazon is the leading online retailer and marketplace for third party sellers. Retail related revenue represents approximately 74% of total, followed by Amazon Web Services (17%), and advertising services (9%). International segments constitute 22% of Amazon's total revenue, led by Germany, the United Kingdom, and Japan.
Market cap 2.3T
Coinbase Global, Inc. Class A Common Stock
↗COIN
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.
Market cap 46.2B · 4,951 employees
Time Series
Relative Performance
Who Moves First
in sync
AMZN and COIN tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.850 (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
+0.439
15 periods · Return correlation when both series rose
Both Falling
+0.472
12 periods · Return correlation when both series fell
Diverging
-0.096
8 periods · Return correlation when series moved apart
R-Squared
72.2%
Share of variance in one series explained by the other.
Trend Agreement
64.9%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,251
Deep shared window — 1,251 usable pairs.
Significance
p < 0.001
95% CI: [0.833, 0.864]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,251 paired data points survived the daily window.
Raw input
1,254
1,251
Normalized
1,254
1,251
Prepared
1,254
1,251
Aligned
1,251
1,251
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
3
A: 3 / B: 0
Series A
Amazon.Com Inc
AMZN
Market cap 2.3T
Stock · 1,254 raw → 1,254 prepared
Series B
Coinbase Global, Inc. Class A Common Stock
COIN
Market cap 46.2B · 4,951 employees
Stock · 1,251 raw → 1,251 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
39
Estimated crossover points between normalized spreads.
Slope
1.9004
Linear regression slope.
Intercept
-131.8019
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
AMZN
Amazon.Com Inc
Highest
+0.941
Grayscale Bitcoin Trust ETF
GBTC · 1,066 data points
Lowest
-0.877
Humana Inc.
HUM · 1,254 data points
COIN
Coinbase Global, Inc. Class A Common Stock
Highest
+0.779
NetFlix Inc
NFLX · 1,251 data points
Lowest
-0.142
Exxon Mobil Corporation
XOM · 1,251 data points
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