COIN vs MARA: Correlation
How closely do Coinbase (COIN) and MARA Holdings, Inc. (MARA) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COIN and MARA?
On 3 years of weekly data the COIN/MARA correlation comes out at 0.60, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.60 over 3. The 5-year figure is 0.70, and annualized covariance runs at 4051.3 %².
In COIN's tracked universe of 34 assets, MARA sits right near the top at #3. The trailing year gives MARA the advantage: -38.3% versus -25.1%, a 13.2-point spread.
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 MARA: side by side
| COIN (Coinbase) | MARA (MARA Holdings, Inc.) | |
|---|---|---|
| 1-year return | -38.3% | -25.1% |
| 5-year return | -27.4% | -70.7% |
| Volatility (ann.) | 80.0% | 83.9% |
| Beta vs S&P 500 | 2.66 | 2.07 |
| Max drawdown (3Y) | -66.4% | -78.3% |
| Market cap | $50.3B | $4.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | COIN | MARA |
|---|---|---|
| 2022 | -86.0% | -89.6% |
| 2023 | +391.4% | +586.8% |
| 2024 | +42.8% | -28.6% |
| 2025 | -8.9% | -46.5% |
| 2026 | -15.7% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COIN and MARA good diversifiers for each other?
To a limited degree. At 0.60 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 MARA?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.63 over the last year and 0.70 over 5 years.
Is MARA a good diversifier for COIN?
To a limited degree. At 0.60 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 0.60 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/coin-vs-mara.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/coin-vs-mara/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COIN correlations · MARA correlations
