COIN vs. XLK

Last updated Jun 9, 2026

COIN (Coinbase Global, Inc.) is a stock, while XLK (State Street Technology Select Sector SPDR ETF) is Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Over the past 5 years, COIN returned -6.29%/yr vs 22.26%/yr for XLK. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

COIN vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Coinbase Global, Inc. (COIN) and State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COIN achieves a -28.31% return, which is significantly lower than XLK's 28.09% return.

COIN

• 1D: 6.37%
• 1M: -19.41%
• YTD: -28.31%
• 6M: -40.88%
• 1Y: -35.48%
• 3Y*: 44.90%
• 5Y*: -6.29%
• 10Y*: —

XLK

• 1D: 2.15%
• 1M: 4.93%
• YTD: 28.09%
• 6M: 25.10%
• 1Y: 55.42%
• 3Y*: 31.33%
• 5Y*: 22.26%
• 10Y*: 25.04%

*Multi-year figures are annualized to reflect compound growth (CAGR)

COIN vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
COIN Coinbase Global, Inc.	-28.31%	-8.92%	42.77%	391.44%	-85.98%	-23.12%
XLK State Street Technology Select Sector SPDR ETF	28.09%	24.61%	21.63%	56.02%	-27.73%	24.07%

Correlation

The correlation between COIN and XLK is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021	0.52

The correlation between COIN and XLK has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.

Return for Risk

COIN vs. XLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COIN

COIN Risk / Return Rank: 23
COIN Sharpe Ratio Rank: 20
COIN Sortino Ratio Rank: 22
COIN Omega Ratio Rank: 24
COIN Calmar Ratio Rank: 23
COIN Martin Ratio Rank: 25

XLK

XLK Risk / Return Rank: 77
XLK Sharpe Ratio Rank: 86
XLK Sortino Ratio Rank: 76
XLK Omega Ratio Rank: 79
XLK Calmar Ratio Rank: 76
XLK Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COIN vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Coinbase Global, Inc. (COIN) and State Street Technology Select Sector SPDR ETF (XLK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	COIN	XLK	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	2.53	-3.03
Sortino ratio: Return per unit of downside risk	-0.41	3.06	-3.46
Omega ratio: Gain probability vs. loss probability	0.95	1.42	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.54	3.50	-4.03
Martin ratio: Return relative to average drawdown	-0.88	11.58	-12.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COIN vs. XLK - Sharpe Ratio Comparison

The current COIN Sharpe Ratio is -0.51, which is lower than the XLK Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of COIN and XLK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COIN	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.51	2.53	-3.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	0.89	-0.97
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	0.41	-0.56

Drawdowns

COIN vs. XLK - Drawdown Comparison

The maximum COIN drawdown since its inception was -90.90%, which is greater than XLK's maximum drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for COIN and XLK.

Drawdown Indicators

	COIN	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-90.90%	-82.05%	-8.85%
Max Drawdown (1Y) Largest decline over 1 year	-66.39%	-15.92%	-50.47%
Max Drawdown (3Y) Largest decline over 3 years	-66.39%	-25.66%	-40.73%
Max Drawdown (5Y) Largest decline over 5 years	-90.90%	-33.56%	-57.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-61.38%	-7.08%	-54.30%
Average Drawdown Average peak-to-trough decline	-49.86%	-34.95%	-14.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.25%	4.80%	+35.45%

Volatility

COIN vs. XLK - Volatility Comparison

Coinbase Global, Inc. (COIN) has a higher volatility of 21.42% compared to State Street Technology Select Sector SPDR ETF (XLK) at 10.42%. This indicates that COIN's price experiences larger fluctuations and is considered to be riskier than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COIN	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.42%	10.42%	+11.00%
Volatility (6M) Calculated over the trailing 6-month period	51.58%	18.32%	+33.26%
Volatility (1Y) Calculated over the trailing 1-year period	70.60%	22.08%	+48.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.93%	25.10%	+60.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	85.40%	24.60%	+60.80%

Dividends

COIN vs. XLK - Dividend Comparison

COIN has not paid dividends to shareholders, while XLK's dividend yield for the trailing twelve months is around 0.41%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COIN Coinbase Global, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.41%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both COIN and XLK in my portfolio?

COIN and XLK have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COIN or XLK?

COIN has higher volatility (21.42%) compared to XLK (10.42%). In terms of maximum drawdown, COIN dropped -90.90% vs XLK's -82.05%.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (2.53 vs -0.51), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.