COIN vs PM: Correlation
How closely do Coinbase (COIN) and Philip Morris International (PM) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COIN and PM?
Over the past 3 years, COIN and PM moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.29) than the 3-year average (-0.15). Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -276.6 %².
Among the 34 assets we track against COIN, PM ranks #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PM outperformed by 58.5 percentage points (-38.3% for COIN against +20.2% for PM). The rolling one-year correlation moved between -0.34 and 0.14 over the past three years, a moderate range. One caveat on sizing: COIN is 3.5 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 PM: side by side
| COIN (Coinbase) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | -38.3% | +20.2% |
| 5-year return | -27.4% | +133.5% |
| Volatility (ann.) | 80.0% | 23.1% |
| Beta vs S&P 500 | 2.66 | -0.01 |
| Max drawdown (3Y) | -66.4% | -20.6% |
| Market cap | $50.3B | $296.9B |
| P/E (trailing) | – | 26.7 |
| Dividend yield | 0.00% | 3.03% |
| Sector / category | Financials | Consumer Staples |
Year-by-year returns
| Year | COIN | PM |
|---|---|---|
| 2022 | -86.0% | +12.3% |
| 2023 | +391.4% | -1.9% |
| 2024 | +42.8% | +34.3% |
| 2025 | -8.9% | +38.0% |
| 2026 | -15.7% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COIN and PM good diversifiers for each other?
Yes. With a correlation of -0.15, COIN and PM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between COIN and PM?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with -0.29 over the last year and -0.01 over 5 years.
Is PM a good diversifier for COIN?
Yes. With a correlation of -0.15, COIN and PM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.15 mean?
A reading of -0.15 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-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/coin-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COIN correlations · PM correlations
