Correlation Analysis
Tesla, Inc. Common Stock vs Grayscale Bitcoin Trust ETF
TSLA vs GBTC
+0.587
Moderate positive
When one moves up, the other tends to follow.
Tesla, Inc. Common Stock
↗TSLA
Tesla is a vertically integrated battery electric vehicle automaker and developer of real world artificial intelligence software, which includes autonomous driving and humanoid robots. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi truck. Tesla also plans to begin selling a sports car and offer a robotaxi service. Global deliveries in 2025 were nearly 1.64 million vehicles. The company sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network and an auto insurance business.
Market cap 1.3T
Grayscale Bitcoin Trust ETF
GBTC
Time Series
Rebased to 100
Who Moves First
GBTC leads TSLA by 6 days
GBTC tends to move before TSLA.
Best correlation after shifting: +0.603 (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
+0.684
12 periods · Return correlation when both series rose
Both Falling
+0.252
10 periods · Return correlation when both series fell
Diverging
-0.409
13 periods · Return correlation when series moved apart
R-Squared
34.5%
Share of variance in one series explained by the other.
Trend Agreement
64.2%
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: [0.546, 0.625]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,066 paired observations 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
Tesla, Inc. Common Stock
TSLA
Market cap 1.3T
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
48
Estimated crossover points between normalized spreads.
Slope
0.1832
Linear regression slope.
Intercept
-6.2522
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
TSLA
Tesla, Inc. Common Stock
Highest
+0.870
Reddit, Inc.
RDDT · 512 observations
Lowest
-0.817
Elevance Health, Inc.
ELV · 947 observations
GBTC
Grayscale Bitcoin Trust ETF
Highest
+0.950
NetFlix Inc
NFLX · 1,066 observations
Lowest
+0.075
Johnson & Johnson
JNJ · 1,066 observations
Saved 3 hours ago · ID: stock-tsla-vs-stock-gbtc-daily-20260408-nk3cfa