COIN vs HOOD: Correlation
Measured on weekly returns over the past three years, Coinbase (COIN) and Robinhood Markets (HOOD) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COIN and HOOD?
Across a 3-year window, the weekly returns of COIN and HOOD correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 3874.2 %².
Few assets follow COIN as closely as HOOD, which ranks #2 of 34 tracked partners. The last year tells two different stories: HOOD led by 44.9 percentage points, -38.3% for COIN against +6.6% for HOOD. The link looks structural: the rolling one-year correlation barely moved, holding between 0.58 and 0.78.
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 HOOD: side by side
| COIN (Coinbase) | HOOD (Robinhood Markets) | |
|---|---|---|
| 1-year return | -38.3% | +6.6% |
| 5-year return | -27.4% | +151.5% |
| Volatility (ann.) | 80.0% | 71.4% |
| Beta vs S&P 500 | 2.66 | 2.88 |
| Max drawdown (3Y) | -66.4% | -57.3% |
| Market cap | $50.3B | $98.7B |
| P/E (trailing) | – | 48.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | COIN | HOOD |
|---|---|---|
| 2022 | -86.0% | -54.2% |
| 2023 | +391.4% | +56.5% |
| 2024 | +42.8% | +192.5% |
| 2025 | -8.9% | +203.5% |
| 2026 | -15.7% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COIN and HOOD good diversifiers for each other?
Only partially. A correlation of 0.68 means COIN and HOOD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between COIN and HOOD?
As of 2026-08-27, the correlation of weekly returns between COIN and HOOD is 0.68 over 3 years, 0.77 over 1 year and 0.62 over 5 years.
Is HOOD a good diversifier for COIN?
Only partially. A correlation of 0.68 means COIN and HOOD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 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-hood.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/coin-vs-hood/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COIN correlations · HOOD correlations
