BTBT vs COIN: Correlation
Measured on weekly returns over the past three years, Bit Digital, Inc. (BTBT) and Coinbase (COIN) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTBT and COIN?
Across a 3-year window, the weekly returns of BTBT and COIN correlate at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 3760.5 %².
Within BTBT's tracked universe of 24 assets, COIN comes in at #8 by 3-year correlation. Neither side won the trailing year by much: -42.0% against -38.3%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BTBT vs COIN: side by side
| BTBT (Bit Digital, Inc.) | COIN (Coinbase) | |
|---|---|---|
| 1-year return | -42.0% | -38.3% |
| 5-year return | -87.6% | -27.4% |
| Volatility (ann.) | 85.4% | 80.0% |
| Beta vs S&P 500 | 2.24 | 2.66 |
| Max drawdown (3Y) | -78.1% | -66.4% |
| Market cap | $0.6B | $50.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | BTBT | COIN |
|---|---|---|
| 2022 | -90.1% | -86.0% |
| 2023 | +605.0% | +391.4% |
| 2024 | -30.7% | +42.8% |
| 2025 | -35.5% | -8.9% |
| 2026 | -15.9% | -15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTBT and COIN good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BTBT and COIN?
As of 2026-08-27, the correlation of weekly returns between BTBT and COIN is 0.55 over 3 years, 0.55 over 1 year and 0.60 over 5 years.
Is COIN a good diversifier for BTBT?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btbt-vs-coin.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/btbt-vs-coin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTBT correlations · COIN correlations
