Correlation Analysis
Grayscale Bitcoin Trust ETF vs JPMorgan Chase & Co.
GBTC vs JPM
+0.912
Very strong positive
When one moves up, the other tends to follow.
Grayscale Bitcoin Trust ETF
GBTC
JPMorgan Chase & Co.
↗JPM
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with more than $4.4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates and is subject to regulation in multiple countries.
Market cap 792.5B
Time Series
Relative Performance
Who Moves First
GBTC leads JPM by 6 days
GBTC tends to move before JPM.
After testing 13 timing shifts, the strongest relationship was +0.917 (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
+0.419
16 periods · Return correlation when both series rose
Both Falling
+0.312
9 periods · Return correlation when both series fell
Diverging
-0.692
10 periods · Return correlation when series moved apart
R-Squared
83.1%
Share of variance in one series explained by the other.
Trend Agreement
56.5%
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: [0.901, 0.921]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,066 paired data points survived the daily window.
Raw input
1,066
1,254
Normalized
1,066
1,254
Prepared
1,066
1,254
Aligned
1,066
1,066
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
188
A: 0 / B: 188
Series A
Grayscale Bitcoin Trust ETF
GBTC
Stock · 1,066 raw → 1,066 prepared
Series B
JPMorgan Chase & Co.
JPM
Market cap 792.5B
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
11
Estimated crossover points between normalized spreads.
Slope
2.2515
Linear regression slope.
Intercept
96.6014
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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 6 hours ago · ID: stock-gbtc-vs-stock-jpm-daily