Market snapshot · September 18, 2026 close
S&P 500 (SPY) $761.69 −0.13% Nasdaq-100 (QQQ) $721.45 +0.60% Dow (DIA) $515.88 −0.48% Russell 2000 (IWM) $284.10 −0.52% 10-Year Treasury (IEF) $90.80 −0.49% Crude Oil (USO) $153.82 −0.93% Gold (GLD) $401.17 +0.74% US Dollar Index (UUP) $28.39 −0.02% Volatility (VXX) $17.76 +0.31% Semiconductors (SMH) $573.00 +2.17% Silver (SLV) $59.93 +1.65% Emerging Markets (EEM) $67.03 +0.19% Bitcoin (BTC) $81,055.00 +4.51% Ethereum (ETH) $2,630.20 +5.92% S&P 500 (SPY) $761.69 −0.13% Nasdaq-100 (QQQ) $721.45 +0.60% Dow (DIA) $515.88 −0.48% Russell 2000 (IWM) $284.10 −0.52% 10-Year Treasury (IEF) $90.80 −0.49% Crude Oil (USO) $153.82 −0.93% Gold (GLD) $401.17 +0.74% US Dollar Index (UUP) $28.39 −0.02% Volatility (VXX) $17.76 +0.31% Semiconductors (SMH) $573.00 +2.17% Silver (SLV) $59.93 +1.65% Emerging Markets (EEM) $67.03 +0.19% Bitcoin (BTC) $81,055.00 +4.51% Ethereum (ETH) $2,630.20 +5.92%
AEACapital Research

Independent student research — not an investment firm or financial advice

Competitive Comparison

Coinbase vs. Robinhood

Two watchlist names monetizing retail trading activity from different angles — the crypto-native exchange against the multi-asset brokerage expanding into crypto.

MetricCoinbase Global (COIN)Robinhood Markets (HOOD)
PEG ratio−1.10 (negative growth-rate assumption)Not consistently disclosed across providers
P/E ratio (TTM)53.0238.13–40.47 (varies)
EV/EBITDA41.77x35.76–45.07x (varies)

EV/EBITDA, compared

HOOD
~40.4x (midpoint)
COIN
41.77x

EV/EBITDA rather than PEG this update, since COIN's PEG has gone negative (a growth-rate-assumption artifact, not a claim the business shrank) and no longer plots meaningfully against HOOD's positive figure. Bold = held in this book.

Market cap, P/E, PEG, EV/EBITDA, and capex sourced via public filings and financial-data aggregators (GuruFocus, StockAnalysis, company earnings releases), as of August 2026. PEG ratio sourced primarily from GuruFocus where available; different providers use different growth-rate assumptions, so figures elsewhere for the same stock can vary by several multiples. Gold-highlighted column(s) indicate the name(s) actually held in this book.

Why neither is in the book

Both are real, profitable businesses now rather than the speculative crypto-adjacent stories they were a few years ago, and both carry rich multiples reflecting that re-rating — Robinhood's EV/EBITDA is in a similar range to Coinbase's. Coinbase is the more crypto-native business; Robinhood has diversified into a broader multi-asset brokerage with crypto as one revenue stream among several. Neither is a position mainly because crypto-adjacent trading-volume businesses are a genuinely different risk category than anything else in the book — direct exposure to trading volume and crypto-market sentiment, rather than a company-specific operating thesis I can underwrite the way I do the rest of the portfolio.