COIN vs GS: Correlation
Coinbase (COIN) and Goldman Sachs (GS) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COIN and GS?
Over the past 3 years, COIN and GS moved with a correlation of 0.43, which is moderate. The past 12 months show a weaker link (0.25) than the 3-year average (0.43). Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 930.5 %².
Within COIN's tracked universe of 34 assets, GS comes in at #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GS ahead by 79.9 points (-38.3% versus +41.6%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.09 and 0.65 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: COIN is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
COIN vs GS: side by side
| COIN (Coinbase) | GS (Goldman Sachs) | |
|---|---|---|
| 1-year return | -38.3% | +41.6% |
| 5-year return | -27.4% | +184.1% |
| Volatility (ann.) | 80.0% | 27.0% |
| Beta vs S&P 500 | 2.66 | 1.34 |
| Max drawdown (3Y) | -66.4% | -30.9% |
| Market cap | $50.3B | $303.1B |
| P/E (trailing) | – | 16.1 |
| Dividend yield | 0.00% | 1.63% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | COIN | GS |
|---|---|---|
| 2022 | -86.0% | -7.9% |
| 2023 | +391.4% | +15.9% |
| 2024 | +42.8% | +52.0% |
| 2025 | -8.9% | +56.6% |
| 2026 | -15.7% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COIN and GS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between COIN and GS?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.25 over the last year and 0.39 over 5 years.
Is GS a good diversifier for COIN?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/coin-vs-gs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/coin-vs-gs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COIN correlations · GS correlations
