COIN vs HIVE: Correlation
How closely do Coinbase (COIN) and HIVE Digital Technologies Ltd (HIVE) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COIN and HIVE?
On 3 years of weekly data the COIN/HIVE correlation comes out at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.54 over 3 years. The 5-year figure is 0.63, and annualized covariance runs at 4046.3 %².
By 3-year correlation, HIVE places #8 of the 34 assets tracked against COIN. Correlation aside, the last 12 months split them widely, with HIVE ahead by 42.4 points (-38.3% versus +4.1%).
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 HIVE: side by side
| COIN (Coinbase) | HIVE (HIVE Digital Technologies Ltd) | |
|---|---|---|
| 1-year return | -38.3% | +4.1% |
| 5-year return | -27.4% | -80.7% |
| Volatility (ann.) | 80.0% | 94.1% |
| Beta vs S&P 500 | 2.66 | 2.26 |
| Max drawdown (3Y) | -66.4% | -77.1% |
| Market cap | $50.3B | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | COIN | HIVE |
|---|---|---|
| 2022 | -86.0% | -89.1% |
| 2023 | +391.4% | +214.6% |
| 2024 | +42.8% | -37.1% |
| 2025 | -8.9% | -9.5% |
| 2026 | -15.7% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COIN and HIVE good diversifiers for each other?
To a limited degree. At 0.54 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 COIN and HIVE?
As of 2026-08-27, the correlation of weekly returns between COIN and HIVE is 0.54 over 3 years, 0.43 over 1 year and 0.63 over 5 years.
Is HIVE a good diversifier for COIN?
To a limited degree. At 0.54 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 0.54 mean?
A reading of 0.54 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/coin-vs-hive.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/coin-vs-hive/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COIN correlations · HIVE correlations
