Correlation Analysis
Coinbase Global, Inc. Class A Common Stock vs Micron Technology, Inc.
COIN vs MU
+0.323
Light positive
When one moves up, the other tends to follow.
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
Micron Technology, Inc.
↗MU
Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips. Its primary revenue stream comes from dynamic random access memory, or DRAM, and it also has minority exposure to not-and or NAND, flash chips. Micron serves a global customer base, selling chips into data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.
Market cap 426B · 53,000 employees
Time Series
Relative Performance
Who Moves First
COIN leads MU by 6 days
COIN tends to move before MU.
After testing 13 timing shifts, the strongest relationship was +0.339 (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
-0.256
8 periods · Return correlation when both series rose
Both Falling
+0.757
8 periods · Return correlation when both series fell
Diverging
-0.650
19 periods · Return correlation when series moved apart
R-Squared
10.4%
Share of variance in one series explained by the other.
Trend Agreement
64.4%
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: [0.272, 0.371]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,251 paired data points survived the daily window.
Raw input
1,251
1,254
Normalized
1,251
1,254
Prepared
1,251
1,254
Aligned
1,251
1,251
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
3
A: 0 / B: 3
Series A
Coinbase Global, Inc. Class A Common Stock
COIN
Market cap 46.2B · 4,951 employees
Stock · 1,251 raw → 1,251 prepared
Series B
Micron Technology, Inc.
MU
Market cap 426B · 53,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
23
Estimated crossover points between normalized spreads.
Slope
0.2641
Linear regression slope.
Intercept
58.3368
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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
Saved 7 hours ago · ID: stock-coin-vs-stock-mu-daily