COIN vs RIOT: Correlation
How closely do Coinbase (COIN) and Riot Platforms, Inc. (RIOT) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COIN and RIOT?
Over the past 3 years, COIN and RIOT moved with a correlation of 0.56, which is moderate. The past 12 months show a weaker link (0.39) than the 3-year average (0.56). Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 3713.8 %².
By 3-year correlation, RIOT places #6 of the 34 assets tracked against COIN. Their recent paths diverged sharply: over the last 12 months RIOT outperformed by 92.4 percentage points (-38.3% for COIN against +54.1% for RIOT).
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 RIOT: side by side
| COIN (Coinbase) | RIOT (Riot Platforms, Inc.) | |
|---|---|---|
| 1-year return | -38.3% | +54.1% |
| 5-year return | -27.4% | -44.6% |
| Volatility (ann.) | 80.0% | 82.3% |
| Beta vs S&P 500 | 2.66 | 2.40 |
| Max drawdown (3Y) | -66.4% | -66.2% |
| Market cap | $50.3B | $7.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | COIN | RIOT |
|---|---|---|
| 2022 | -86.0% | -84.8% |
| 2023 | +391.4% | +356.3% |
| 2024 | +42.8% | -34.0% |
| 2025 | -8.9% | +24.1% |
| 2026 | -15.7% | +64.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COIN and RIOT good diversifiers for each other?
Only partially. A correlation of 0.56 means COIN and RIOT 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 RIOT?
The COIN/RIOT correlation stands at 0.56 on a 3-year window (1 year: 0.39, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is RIOT a good diversifier for COIN?
Only partially. A correlation of 0.56 means COIN and RIOT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 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-riot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/coin-vs-riot/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COIN correlations · RIOT correlations
