Correlation Analysis
Broadcom Inc. Common Stock vs Grayscale Bitcoin Trust ETF
AVGO vs GBTC
+0.859
Very strong positive
When one moves up, the other tends to follow.
Broadcom Inc. Common Stock
↗AVGO
Broadcom is one of the largest semiconductor companies in the world and has also expanded into infrastructure software. Its semiconductors primarily serve computing and networking, with custom AI accelerators now accounting for the bulk of the business. It is primarily a fabless designer, but holds some manufacturing in-house, such as for its best-of-breed film bulk acoustic resonator filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments. Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom and Avago Technologies in chips, as well as VMware, Brocade, CA Technologies, and Symantec in software.
Market cap 1.5T
Grayscale Bitcoin Trust ETF
GBTC
Time Series
Relative Performance
Who Moves First
GBTC leads AVGO by 6 days
GBTC tends to move before AVGO.
After testing 13 timing shifts, the strongest relationship was +0.868 (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
+0.274
17 periods · Return correlation when both series rose
Both Falling
+0.159
9 periods · Return correlation when both series fell
Diverging
-0.644
9 periods · Return correlation when series moved apart
R-Squared
73.7%
Share of variance in one series explained by the other.
Trend Agreement
59.6%
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: [0.842, 0.874]
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
Broadcom Inc. Common Stock
AVGO
Market cap 1.5T
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
17
Estimated crossover points between normalized spreads.
Slope
0.2290
Linear regression slope.
Intercept
9.5976
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
AVGO
Broadcom Inc. Common Stock
Highest
+0.981
GE Aerospace
GE · 1,254 data points
Lowest
-0.903
The Kraft Heinz Company Common Stock
KHC · 1,254 data points
GBTC
Grayscale Bitcoin Trust ETF
Highest
+0.950
NetFlix Inc
NFLX · 1,066 data points
Lowest
+0.075
Johnson & Johnson
JNJ · 1,066 data points
Saved 5 hours ago · ID: stock-avgo-vs-stock-gbtc-daily-20260408-6hw8zy