Correlation Analysis
Grayscale Bitcoin Trust ETF vs Eli Lilly & Co.
GBTC vs LLY
+0.791
Strong positive
When one moves up, the other tends to follow.
Grayscale Bitcoin Trust ETF
GBTC
Eli Lilly & Co.
↗LLY
Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.
Market cap 828.2B · 50,000 employees
Time Series
Relative Performance
Who Moves First
GBTC leads LLY by 6 days
GBTC tends to move before LLY.
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
-0.006
13 periods · Return correlation when both series rose
Both Falling
-0.203
6 periods · Return correlation when both series fell
Diverging
-0.812
16 periods · Return correlation when series moved apart
R-Squared
62.6%
Share of variance in one series explained by the other.
Trend Agreement
53.5%
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: [0.768, 0.813]
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
Eli Lilly & Co.
LLY
Market cap 828.2B · 50,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
9
Estimated crossover points between normalized spreads.
Slope
7.4011
Linear regression slope.
Intercept
300.0065
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-lly-daily