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Correlation Analysis

Alphabet Inc. Class C Capital Stock vs Coinbase Global, Inc. Class A Common Stock

GOOG vs COIN

+0.539

Moderate positive

When one moves up, the other tends to follow.

GOOG logo

Alphabet Inc. Class C Capital Stock

GOOG

Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google's subscription services (YouTube TV and YouTube Music, among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google's cloud computing platform accounts for roughly 10% of Alphabet's revenue. The firm's investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) make up the rest.

Market cap 3.6T · 190,820 employees

COIN logo

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

Apr 14, 2021 — Apr 7, 2026Daily1,251 observationsStockStockTechnology

Time Series

Rebased to 100

Green: GOOGGray: COIN36 of 1,251 points (sampled)

Who Moves First

COIN leads GOOG by 6 days

COIN tends to move before GOOG.

Best correlation after shifting: +0.558 (13 shifts scanned)

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

-0.037

12 periods · Return correlation when both series rose

Both Falling

+0.467

9 periods · Return correlation when both series fell

Diverging

-0.764

14 periods · Return correlation when series moved apart

R-Squared

29.0%

Share of variance in one series explained by the other.

Trend Agreement

63.9%

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: [0.498, 0.577]

Scatter

XY Regression

69.1100150200250300329.35100200300400444Alphabet Inc. Class C Capital StockCoinbase Global, Inc. Class A Common StockData pointsFit (r = 0.539)

Pipeline

Data quality details

Pipeline Summary

1,251 paired observations 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

GOOG logo

Alphabet Inc. Class C Capital Stock

GOOG

Market cap 3.6T · 190,820 employees

Stock · 1,254 raw → 1,254 prepared

Series B

COIN logo

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

21

Estimated crossover points between normalized spreads.

Slope

0.8909

Linear regression slope.

Intercept

43.3405

Linear regression intercept.

Related Extremes

Highest and Lowest Correlated

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