AMD Stock vs Bitcoin Correlation: Do They Move Together?

Plenty of people now own a slice of a fast-growing tech company and a little crypto at the same time, often through the same app. That mix raises a simple question with real money behind it: when one of them has a bad day, does the other tend to have one too? If the answer is yes, holding both doubles up on the same risk, and if it is no, each one can soften the other's swings.

The answers people find rarely agree. Some months the headlines say crypto now trades like a tech stock, and a few weeks later they say Bitcoin has gone its own way. The figures behind those claims usually arrive without the dates or the method that produced them, so two websites can quote very different numbers for the same pair and both be right about their own window.

Traders settle the question with a correlation coefficient, a single number between -1 and +1 that measures how closely two prices move in the same direction on the same days. A reading near +1 means they rise and fall together almost every day, a reading near 0 means one tells you little about the other, and a negative reading means they tend to move in opposite directions.

AMD, the chip maker, has shares that swing much more than the market's. On BloFin, the AMDUSDT Perpetual follows AMD's share price and offers up to 20x leverage (source: BloFin, AMDUSDT contract information). The same account can also hold Bitcoin perpetuals, so how the two move together decides how much risk a mixed position really carries.

What is AMD stock's correlation with Bitcoin?

AMD stock's correlation with Bitcoin is positive but weak. Measured on daily returns, it was 0.37 over the 30 sessions to October 9, 2026, 0.27 over 90 sessions and 0.30 over the past year, worked out. Over the past year, the two moved in the same direction on about two days in three (source: Yahoo Finance, AMD price history).

A daily return is the percentage change from one close to the next, and each window pairs AMD's returns with Bitcoin's over the same dates (source: Yahoo Finance, Bitcoin price history). The full year runs to 249 sessions, from October 14, 2025 to October 9, 2026.

On the scale from -1 to +1, a reading of 0.3 sits at the weak end of positive. A plain way to read it is to square it: 0.30 times 0.30 is 0.09, so over the past year only about a tenth of the variation in AMD's daily returns lined up with Bitcoin's, worked out. The other nine-tenths came from things Bitcoin did not share, such as AMD's own results, its AI deals and news from the chip industry, which what moves AMD's price sets out in full.

The latest 30 sessions show why the same-direction count and the correlation can tell different stories. AMD and Bitcoin moved the same way on only half of those days, yet the correlation came out higher than the year's, because the big days matched. From Friday, September 18 to Monday, September 21, 2026, AMD rose 9.95%, worked out (source: Yahoo Finance, AMD price history). Bitcoin rose 7.05% between the same two dates, measured on its UTC closes (source: Yahoo Finance, Bitcoin price history). Correlation gives large moves more weight than small ones, so one shared jump can lift it more than a run of quiet days that go opposite ways.

How to measure the AMD and Bitcoin correlation

You measure it by turning each asset's daily closes into percentage changes and lining Bitcoin's seven-day week up with AMD's five trading days. Then you run a Pearson correlation over a set window, which on the 90 sessions to October 9, 2026 gives 0.27 for AMD and Bitcoin, worked out.

Pearson's correlation is the standard formula for this, and it needs only two columns of numbers. Say you download a year of daily closes for AMD and for Bitcoin. First you turn each list into daily returns, so a close of $620.68 followed by one of $608.10 becomes a fall of 2.03%, which is what AMD did on October 9, 2026 (source: Yahoo Finance, AMD price history). Then you pair each AMD return with Bitcoin's return over the same stretch and run the formula on the two columns.

The awkward part is the calendar. Bitcoin trades every day, while AMD's shares have one regular session on each trading day from Monday to Friday. Here, each Bitcoin return runs between the same two dates as the AMD return beside it, so Monday's Bitcoin figure covers Friday to Monday and includes the weekend. Dropping the weekend days would throw away the Bitcoin moves that happen while AMD's regular session is closed.

The two closes also land at different hours of the day. Yahoo Finance's daily Bitcoin prices run on UTC days, so each day's close is the price at 12AM UTC as that day ends (source: Yahoo Finance, Bitcoin price history). AMD's regular session on Nasdaq ends at 4PM ET (source: Nasdaq, market hours and holidays). BloFin's regular weekday hours for stock futures close at that moment, 8PM UTC while US daylight time runs and 9PM UTC once daylight time ends on November 1, 2026 (source: BloFin, stock futures notice). Checked with Bitcoin's price at 8PM UTC instead, the 30-session reading is 0.31 and the 90-session reading 0.29, worked out, so the four-hour gap moves the answer only a little.

Run on another pair, such as AMD and Intel's stock or Nvidia and Bitcoin, the same steps give comparable numbers.

Correlation is also easy to confuse with beta, a second number often quoted for stocks. Correlation says how consistently two sets of returns move together, on a scale from -1 to +1. Beta says how far one tends to move for each 1% move in the other, and AMD's beta is measured against the stock market.

Why correlation is measured on returns

Running the formula on prices instead of returns is the commonest mistake, and this pair shows why. Over the year to October 9, 2026, AMD's shares rose 181.0%, from $216.42 to $608.10, worked out (source: Yahoo Finance, AMD price history). Bitcoin fell 28.4% over the same dates, from $115,271.08 to $82,546.32 (source: Yahoo Finance, Bitcoin price history). Fed the two price lists, the formula gives -0.40, which looks like a fairly strong negative link, worked out. Fed the daily returns over the same dates, it gives +0.30.

The price version only says that one line went up while the other went down, which any two trending prices will show whether or not they have anything to do with each other. A rising stock and a falling coin tend to look negatively linked on a price chart, and so would a rising stock and a falling gold price, or any other pair of opposite trends.

Returns ask the question that matters for risk: on the days AMD rose, did Bitcoin tend to rise too, and on the days it fell, did Bitcoin fall with it? Over the past year the answer was yes, loosely, on about two days in three. If you hold both for years, the trend of each matters most to your total return. If you want to know whether a bad week in one will come with a bad week in the other, the returns figure is the one to use, and the price figure can point you the wrong way.

Why the AMD and Bitcoin correlation changes over time

The link changes because the forces the two share, such as interest rates, the dollar and borrowed money, matter more in some months than in others. Measured over rolling 30-session windows, the correlation fell from 0.57 in November 2025 to 0.09 at the end of August 2026, worked out.

Each reading uses the 30 sessions that end on the last trading day of the month, and the latest uses the 30 sessions to October 9, 2026.

A correlation also says nothing about cause. AMD's shares do not push Bitcoin around, or the other way about; both respond to the same mood in markets, and that shared mood is stronger in some months. The highest month-end reading came in November 2025, when both sold off together. AMD fell 15.07% from October 31 to November 28, worked out (source: Yahoo Finance, AMD price history). Bitcoin fell 17.01% between the same two dates, worked out (source: Yahoo Finance, Bitcoin price history). The lowest month-end reading came at the end of August 2026, after a week in which Bitcoin jumped while AMD drifted lower.

So a single reading is a snapshot of its window. The same pair measured 0.12 at the end of September and 0.37 a week into October, with nothing changing about either asset except which days fell inside the window.

The yen carry trade and August 5, 2024

One shared force has a name traders remember. In a carry trade, investors borrow in a currency with very low interest rates, for many years the Japanese yen, and put the money into assets they expect to earn more, including stocks and crypto. BloFin Research's brief on Japan's rate hike, published on May 27, 2026, describes how that trade unwound in August 2024 after the Bank of Japan raised rates, forcing leveraged investors to sell wherever they could find buyers.

August 5, 2024 was the day it hit hardest. Bitcoin fell 7.10% over that UTC day, from $58,116.98 to $53,991.46, and 12.09% from its Friday close, worked out (source: Yahoo Finance, Bitcoin price history). AMD's shares opened that Monday at $122.16, 7.80% under Friday's $132.50 close, then recovered to close at $134.82, worked out (source: Yahoo Finance, AMD price history).

BloFin Research's brief calls that episode global deleveraging passing through crypto first, and AMD's opening drop fits the description. When investors who borrowed have to raise cash, they sell what they can sell fast, so assets with little else in common fall at the same moment, and the link fades once the forced selling stops.

That is why a calm-month reading of 0.1 or 0.2 can understate how the two behave on the worst days. The same pattern runs through crypto itself, where coins that usually drift apart drop together in a crash, as why correlations jump in crashes explains.

When AMD and Bitcoin split and moved together in 2026

2026 has had both kinds of month. In May, AMD rose 45.6%, worked out (source: Yahoo Finance, AMD price history). Bitcoin slipped 3.8% from April 30 to May 29, yet their daily correlation stayed positive at 0.26, worked out (source: Yahoo Finance, Bitcoin price history). On September 21, the two jumped together in one of the year's biggest shared moves.

The May split matches what BloFin Research wrote on May 20, 2026: US stocks were setting records on AI and on hopes for US-China cooperation, while Bitcoin stayed stuck near $80,000. Over the month AMD went from $354.49 on April 30 to $516.10 on May 29 (source: Yahoo Finance, AMD price history). Bitcoin went from $76,304.32 to $73,372.52 between the same two dates (source: Yahoo Finance, Bitcoin price history). The daily figure still came out at 0.26 over those 20 sessions, worked out, because on the days both moved sharply they tended to move the same way. Correlation measures the day-to-day moves around each trend and says nothing about where each one ends the month.

August showed the other side. From August 18 to August 21, 2026, Bitcoin climbed 21.1%, from $64,680.71 to $78,335.19, worked out (source: Yahoo Finance, Bitcoin price history). AMD's shares slipped 2.3% over the same days, from $484.39 to $473.25 (source: Yahoo Finance, AMD price history). That burst helped pull the 30-session reading down to 0.09 by the end of the month.

September 21, 2026 brought them back together, as AMD rose 9.95% to $615.52 (source: Yahoo Finance, AMD price history). At that price its market value was just over $1.0 trillion on the 1,632,475,042 shares AMD reported outstanding on July 29, 2026, worked out (source: AMD Form 10-Q, Q2 2026). Bitcoin closed that UTC day 6.73% higher at $86,602.91, its highest close since January 28, worked out (source: Yahoo Finance, Bitcoin price history). The Nasdaq Composite set what was then a record close of 27,122.09 (source: Yahoo Finance, Nasdaq Composite history).

The latest week shows how quickly the picture turns. AMD closed at a record $649.42 on October 6, 2026, slipped to $645.86 on October 7, then fell 3.90% on October 8, worked out (source: Yahoo Finance, AMD price history). Bitcoin fell 1.92% over the same day, worked out (source: Yahoo Finance, Bitcoin price history). Rising oil prices and bond yields weighed on stocks and Bitcoin alike that day. Chip stocks took an extra hit after a Financial Times report put the annualized revenue of OpenAI, which has a multi-year deal for AMD's AI chips, $20 billion below earlier estimates (source: Yahoo Finance, October 8 market report). On October 9 they split, with AMD down 2.03% to $608.10 (source: Yahoo Finance, AMD price history). Bitcoin rose 1.07% over the same day, worked out (source: Yahoo Finance, Bitcoin price history). Anyone looking at only one of those days would draw a different conclusion, which is why every correlation figure needs its window beside it.

Does AMD's business have any link to crypto?

AMD's business has only a small and mostly past link to crypto. Its graphics chips were once bought in bulk for crypto mining. Blockchain-related GPU sales made up a high single-digit share of AMD's revenue in the third quarter of 2017 and were negligible a year later (source: AMD, third-quarter 2018 results).

A GPU, or graphics processing unit, is the chip that draws images on a screen, and its ability to run many simple calculations at once also made it useful for mining some cryptocurrencies. In AMD's own figures that demand reached a low double-digit percentage of its revenue in the fourth quarter of 2017 (source: AMD, third-quarter 2018 results). Say you held AMD shares in late 2017: about a dollar in every ten of the company's sales then came from chips bought for mining. By the third quarter of 2018 that share had faded to almost nothing, and the same release reported lower graphics revenue. If you are new to how coins are created in the first place, what Bitcoin is covers mining and the 21 million supply cap.

AMD still lists the risk. Its latest quarterly report says its GPU revenue has in the past been affected in part by swings in the cryptocurrency mining market. The report adds that failing to manage those risks could materially hurt its GPU business (source: AMD Form 10-Q, Q2 2026). The same report contains no other reference to crypto.

So the business tie that explained the 2017 and 2018 link has shrunk to a line in the risk factors. What connects the two prices today is mostly what moves markets as a whole, which is also why the link shows most clearly on the days when everything falls at once.

AMD and Bitcoin on big down days and weekends

On AMD's worst days of the past year, Bitcoin usually fell too. Of AMD's ten largest one-day falls in the year to October 9, 2026, Bitcoin was down on seven. On Bitcoin's ten worst days, measured the same way, AMD fell on six, worked out from daily closes (source: Yahoo Finance, Bitcoin price history).

The sizes rarely matched. AMD reported its fourth-quarter results after the close on February 3, 2026 (source: AMD, past events). In the next session, on February 4, AMD fell 17.31%, worked out (source: Yahoo Finance, AMD price history). Bitcoin lost 3.46% over the same stretch, worked out (source: Yahoo Finance, Bitcoin price history). The next day Bitcoin dropped 14.13%, worked out (source: Yahoo Finance, Bitcoin price history). AMD slipped only 3.84% over that day, worked out (source: Yahoo Finance, AMD price history). Each had its own shock, and the other felt part of it. That is the practical meaning of a weak positive correlation: a bad day for one raises the odds of a down day for the other, without telling you how far it will go.

Weekends are where holding both feels different. Bitcoin trades through Saturday and Sunday, and its price history carries a close for every day of the week (source: Yahoo Finance, Bitcoin price history). AMD's next regular session after a Friday is on Monday. Leaving out the seven weekends with a market holiday on the Friday or the Monday, there were 44 weekends from Friday, October 17, 2025 to Monday, October 5, 2026. Across them, Bitcoin's move from Friday's close to Sunday's close had a correlation of 0.29 with AMD's opening move on Monday. The two went the same way on 29 of those weekends, worked out (source: Yahoo Finance, Bitcoin price history).

Say you hold both and see Bitcoin fall over a weekend; single weekends can point either way. Over the weekend before March 23, 2026, Bitcoin fell 3.80%, and over the weekend before June 8 it rose 3.80%, worked out (source: Yahoo Finance, Bitcoin price history). AMD opened 2.52% higher on the first of those Mondays and 3.99% higher on the second, worked out (source: Yahoo Finance, AMD price history). A Bitcoin weekend move is a weak hint about Monday's open, and weekend gap risk on the AMD perpetual shows how such gaps reach a leveraged position.

On BloFin, the AMDUSDT Perpetual is listed for trading 24/7 (source: BloFin, AMDUSDT listing notice). You can watch its weekend price beside Bitcoin's on the AMDUSDT Perpetual page.

Trading AMD and Bitcoin on one BloFin account

Holding both on one BloFin account pairs a coin that trades every day with a contract that has set hours. Outside regular weekday trading hours, and on weekends and market holidays, AMDUSDT orders may be limited to reduce-only (source: BloFin, stock futures notice). Bitcoin can move your balance at any hour, while the AMD position may only be cut back.

On BloFin, stock futures have a regular weekday session of 1.30PM to 8PM UTC while US daylight time runs, and 2.30PM to 9PM UTC after it ends (source: BloFin, stock futures notice). BloFin calculates the AMD contract's price index from the quotes of outside data vendors (source: BloFin, AMDUSDT listing notice). The index stays at its last value whenever no outside price is available (source: BloFin, AMDUSDT listing notice). Reduce-only limits you to orders that cut a position down or close it out, and an order under that setting cannot enlarge the position or flip it to the other side (source: BloFin Help Center, reduce-only orders). How those windows apply to AMD is set out in what the AMD perpetual is.

Say you hold the BTCUSDT Perpetual and an AMD long on BloFin, and Bitcoin drops sharply on a Saturday. The Bitcoin position gains or loses with every move, because Bitcoin's price keeps changing through the weekend. On the AMD side, BloFin may accept only orders that reduce or close the position until the regular session opens on Monday, at 1.30PM UTC while daylight time runs.

Some shared shocks land in exactly those hours. The US consumer price index for September is due at 8.30AM ET on Wednesday, October 14, 2026 (source: BLS, release schedule for October 2026). That is 12.30PM UTC, an hour before the regular session opens, so an inflation surprise can move Bitcoin at once while the AMD contract may take only reducing orders. AMD's own third-quarter results follow on November 3, 2026, after the US clock change (source: AMD, IR calendar). How a position can be handled on report night is the subject of trading AMD around earnings.

Margin is where the two positions meet. In cross margin, all the money in your futures account backs every position and BloFin calculates their risks together (source: BloFin Help Center, margin mechanism). A weekend loss on Bitcoin therefore lowers the cushion behind an AMD position you may only be able to reduce, a case cross margin with a Bitcoin perpetual works through with numbers. In isolated margin, the margin you put behind a position is the most that position can lose (source: BloFin Help Center, margin mechanism).

A correlation of about 0.3 is also far too weak for one asset to offset the other. A hedge needs a position that moves closely with what you hold, and hedging with the AMD perpetual shows how one is sized.

Looking to trade the AMDUSDT Perpetual alongside your Bitcoin? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and go to the AMDUSDT Perpetual trading page.

Frequently asked questions

Does AMD stock move more with the stock market or with Bitcoin?

AMD's correlation with the stock market is about twice its correlation with Bitcoin. Over the 249 sessions to October 9, 2026, the correlation between AMD's daily returns and the S&P 500's was 0.60, against 0.30 with Bitcoin, worked out (source: Yahoo Finance, S&P 500 history). Bitcoin's own correlation with the S&P 500 over the same sessions was 0.47. Much of what AMD and Bitcoin share runs through the broad market, and AMD's own news accounts for most of the rest.

Can Bitcoin's price predict AMD's next move?

Bitcoin's moves have said almost nothing about AMD's next session. Comparing each Bitcoin daily return with AMD's return in the following session, over the year to October 9, 2026, gives a correlation of -0.05, worked out, which is close to zero. Whatever the two share tends to show up on the same day, once both markets have reacted to the news, so a Bitcoin rally one evening has given no reliable signal for AMD's next close.

Has the correlation between AMD and Bitcoin ever been negative?

It has, briefly. Measured over rolling 30-session windows on every trading day of the past year, the reading dipped below zero on 14 of 220 days. It reached -0.20 on September 17, 2026, against a high of 0.60 on January 15, 2026, worked out. A negative spell like September's means the two went separate ways for a few weeks. It says nothing about the weeks that follow, so it is a weak reason to treat either asset as protection for the other.

Does AMD's earnings report move Bitcoin?

AMD's results have not moved Bitcoin in any consistent way. AMD reported after the market closed on November 4, 2025 and on February 3, May 5 and August 4, 2026 (source: AMD, past events). In the session after each report, AMD moved +2.51%, -17.31%, +18.61% and -7.04%, worked out (source: Yahoo Finance, AMD price history). Bitcoin moved +2.27%, -3.46%, +0.62% and +0.85% over the same days, worked out (source: Yahoo Finance, Bitcoin price history). Only the February fall came with a clear Bitcoin drop. On those nights AMD's own news set the move, and Bitcoin's moves were small by comparison.

Does AMD own any Bitcoin?

AMD's latest quarterly report, for the quarter to June 27, 2026, does not mention Bitcoin anywhere. Its only reference to crypto is the risk factor about mining demand for its graphics chips (source: AMD Form 10-Q, Q2 2026). On that date AMD held $5.1 billion in cash and cash equivalents and $8.0 billion in short-term investments (source: AMD Form 10-Q, Q2 2026). Nothing in the report ties the value of AMD's holdings to the price of Bitcoin, so Bitcoin's price reaches AMD's stock mostly through the wider market.

Researched and written by the BloFin Academy editorial team with AI-assisted drafting. All facts independently verified. Primary sources include daily price histories for AMD, Bitcoin, the S&P 500 and the Nasdaq Composite from Yahoo Finance, and Yahoo Finance's October 8, 2026 market report. They also include AMD's Form 10-Q for the second quarter of 2026, its third-quarter 2018 results, its investor relations calendar and list of past events, the Bureau of Labor Statistics release schedule for October 2026 and Nasdaq's market hours and holidays page. BloFin's sources are its AMDUSDT contract information, its AMDUSDT listing notice, its stock futures notice and its help center articles on the margin mechanism and reduce-only orders, current as of October 12, 2026.

Nothing in this article constitutes financial advice, and nothing in it is a recommendation to buy, sell or hold AMD in any form. A correlation describes a past window and can change within weeks: AMD and Bitcoin moved the same way on about two days in three over the past year, yet fell hard together on some days and split on others. On BloFin, Bitcoin trades through the weekend while the AMDUSDT Perpetual may accept only orders that reduce a position outside regular weekday trading hours. In cross margin, a Bitcoin loss can drain the balance behind an AMD position you may only be able to cut. Past performance does not indicate future results. Do your own research and consider your risk tolerance before you trade on BloFin.