Nvidia’s common stock, listed on the Nasdaq Global Select Market under the ticker NVDA, ended the Veterans Day session of Wednesday, November 11, 2026, at an official regular-session close of $173.73. That close appears on Nasdaq’s official historical daily table and is confirmed on Nvidia’s investor-relations historical price lookup, which shows the same official open of $172.80, intraday high of $177.54, and intraday low of $170.77. It is the last official U.S. cash close used in this article. A November 12 cash-session print is not treated here as an official close.
On November 12, 2026, Nvidia’s newsroom published “NVIDIA Announces CEO Transition.” The same day, the company filed a Form 8-K on EDGAR, accession 0001045810-26-000082, reporting that the board had accepted the resignation of Jen-Hsun Huang as president, chief executive officer, and a member of the board on November 11, 2026, effective immediately. Those official documents are why this is not a rewrite of the earlier November 17 earnings preview. The third-quarter fiscal 2027 report remains scheduled and unreleased. What can be examined now is the official price path through November 11, the official leadership record dated November 8 through November 12, and the statistical relationship between Nvidia’s daily returns and a clearly sourced Bitcoin series over the same windows.
The correlation work below uses daily returns, not raw price levels. It reports Pearson coefficients for 30, 90, 180, and 252 trading-day windows ending on the November 11 official equity close, plus a 2026 year-to-date window that starts from the December 31, 2025, official closes. A simple equity-benchmark check against the S&P 500 is included on the same dates. Correlation is not causation. A three-session window after the November 8 official statements is discussed in narrative form only; it is too short to support a stable coefficient.
What the official November 12 announcement and 8-K actually say
The newsroom release is dated November 12, 2026. Its lead bullets are blunt: “Jensen Huang Resigns”; “Colette Kress, Executive Vice President and Chief Financial Officer, Appointed Interim CEO”; and “Harvey C. Jones Appointed First-Ever Chair of the Board.” The body states that Nvidia’s board “announced today that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately.” Colette Kress, the current executive vice president and chief financial officer, “has agreed to serve as Interim Chief Executive Officer” and “will continue to serve as Executive Vice President and Chief Financial Officer while serving as Interim Chief Executive Officer until a permanent successor has been named.” The board “is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates.”
The Form 8-K is the official SEC version of the same events, and it is slightly more precise about dates and legal names. The cover reports a date of earliest event of November 11, 2026. The EDGAR header lists a filing date of November 12, 2026, and an acceptance time of 8:52:41 a.m. on that date. Item 5.02 states: “On November 11, 2026, the Board of Directors, or the Board, of NVIDIA Corporation accepted the resignation of Jen-Hsun Huang, as NVIDIA’s President, Chief Executive Officer and member of the Board, effective immediately.” Following that resignation, the board appointed “NVIDIA’s Executive Vice President and Chief Financial Officer Colette M. Kress, age 59, to serve as interim Chief Executive Officer, while the Board conducts a search for a new Chief Executive Officer.” The 8-K notes that Ms. Kress has served as executive vice president and chief financial officer since 2013 “and will continue in that role while she serves as the interim Chief Executive Officer.”
The same item records a second November 11 action: the board appointed Harvey C. Jones, age 73, as chair of the board. The 8-K states that Mr. Jones “has served on the Board since 1993,” “has been the Managing Partner of Square Wave Ventures, a private family office, since 2004,” and “has over 30 years of experience as an entrepreneur, high technology executive, and venture investor.” The newsroom release adds that he has been “an entrepreneur, technology executive, and active venture investor for over 30 years, including serving as Chief Executive Officer and Executive Chairman of Synopsys,” and it describes the appointment as the board’s “first-ever Chair of the Board.” Exhibit 99.1 to the 8-K is the press release dated November 12, 2026. The filing is signed by Colette M. Kress in the combined capacity of interim chief executive officer, executive vice president, and chief financial officer.
Quoted comments in the newsroom release should be kept on their official speakers. Harvey Jones, identified there as chair, said: “Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position.” He added that she “is supported by an experienced leadership team that has been instrumental in executing NVIDIA’s strategy and advancing its technology roadmap,” and that “the Board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption.” Kress, identified as interim CEO and CFO, said: “NVIDIA’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years.” The release also states that “Jensen’s contributions to NVIDIA are profound,” that “NVIDIA is one of the most consequential technology companies in the world,” and that “the Board and the company thank Jensen for his immeasurable contributions to the company and the industry.” Those are official thank-you sentences, not an official finding about why the resignation was accepted.
One scheduling fact in the same November 12 release is easy to miss under the leadership headline and should not be missed. “NVIDIA will report its third-quarter fiscal 2027 financial results on Tuesday, November 17, at approximately 1:20 p.m. PT, as previously scheduled, followed by its earnings call at 2 p.m. PT.” The company’s events page lists “NVIDIA 3rd Quarter FY27 Financial Results” at 5:00 p.m. Eastern Time on November 17, 2026, which matches a 2:00 p.m. Pacific call time. The earlier conference-call notice dated October 28, 2026 had already set that 2:00 p.m. Pacific, 5:00 p.m. Eastern call, for the quarter ended October 25, 2026. This article does not preview those still-unreleased results.
The official investigation record that preceded the resignation
The November 12 leadership announcement did not appear in a vacuum, and the official record of the preceding four days should be kept in official language rather than reconstructed from secondary color. On November 8, 2026, the company published a “Statement From NVIDIA Board of Directors.” It said: “The NVIDIA Board is initiating an independent investigation in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort.” A committee of independent directors, “assisted by outside independent counsel, will oversee the investigation.” The board said it “prioritizes U.S. national and economic security, which is paramount to the interests of NVIDIA and its shareholders.” It also said: “While the Board has no reason to believe that either national security or NVIDIA secrets were compromised, the Board’s inquiry will examine all available information.” The same statement said that “Jensen fully supports the review and has committed to cooperating with it,” and that “the Board has confidence in Jensen and his leadership team and will provide further updates as appropriate.”
The same date, the newsroom published “A Message to Our Company,” introducing an email that “NVIDIA founder and CEO Jensen Huang sent the following email to NVIDIA employees earlier today.” In that official text, Huang wrote: “I owe my family and all of you an apology.” He wrote, “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.” Addressing colleagues, the board, partners, and shareholders, he wrote: “you deserve better from me,” “leading NVIDIA is the privilege of my life,” and “I have fallen short of that responsibility.” On the investigation, he wrote: “Regarding the national security concerns raised in news reports, NVIDIA’s Board of Directors has initiated an independent investigation. I support the investigation and will cooperate fully.” He asked for privacy for his family. This article quotes those official sentences because they are in the company’s newsroom. It does not add names, secondary allegations, or investigative conclusions that are not in the official documents retrieved here.
On November 10, 2026, a further newsroom item, “Statement From the Independent Members of the NVIDIA Board,” named counsel. “The independent members of the NVIDIA Board have retained former acting U.S. Attorney of the Southern District of New York Joon H. Kim and his firm Wachtell, Lipton, Rosen & Katz to conduct a thorough and independent investigation as was announced on Sunday.” That is the official identification of counsel. The November 8 board statement had already said a committee of independent directors would be assisted by outside independent counsel; the November 10 item supplies the names. Neither statement, in the text retrieved here, reports a completed investigation or a disciplinary finding. The November 12 8-K and newsroom release then report the resignation, the interim CEO appointment, the chair appointment, and the start of a permanent CEO search. A reader who collapses those four official dates into a single “scandal close” is no longer reading the documents in order.
Other official Nvidia items from the same week exist and should not be mistaken for the leadership record. On November 8, the company also announced a collaboration with Rebellions and SK Telecom on sovereign AI infrastructure using NVIDIA NVLink Fusion. Those product and partnership announcements are official, and they are not a substitute for the board statements or the 8-K. This article does not treat a partnership headline as a complete explanation of the share-price path.
The official NVDA price path through the November 11 close
The official close of $173.73 on November 11 is easier to place if the earlier official highs and lows are kept in view. On Nasdaq’s historical daily table retrieved for this article, covering trading days from November 3, 2025, through November 11, 2026, the highest official close in the series is $239.24 on October 6, 2026, the same session as the series’ highest official intraday print of $243.37. The lowest official close in that retrieved series is $165.17 on March 30, 2026, when the official intraday low was $164.27. The December 31, 2025, official close was $186.50. From that year-end close to the November 11 close, the official change is a decline of 6.85 percent. From the October 6 official close to November 11, the official change is a decline of 27.38 percent. Those are close-to-close arithmetic on official prints, not forecasts and not market-capitalization claims.
The decline from the October peak was already underway before the November 8 official statements. The official close had slipped to $200.13 by November 4. On November 5, the official close was $181.60, down 9.26 percent from the prior official close, on official Nasdaq volume of 306,127,800 shares. That session was part of a broader official equity move already discussed in the earlier November 5 AI-stock session account; it is dated before the November 8 board statement and should not be relabeled as a post-announcement close. On November 6, the official close recovered to $186.64, up 2.78 percent.
The first regular cash session after the November 8 official board statement and the official employee message was Monday, November 9. Nvidia’s official close that day was $178.67, down 4.27 percent from November 6, on official Nasdaq volume of 462,719,300 shares, the heaviest official volume in the recent table below. On November 10, the official close was $168.89, down 5.47 percent, on official volume of 429,273,200 shares. That $168.89 close is 9.45 percent below the December 31, 2025, official close and 29.41 percent below the October 6 official close. On Veterans Day, November 11, U.S. cash equities were open, and Nvidia’s official close was $173.73, up 2.87 percent, or $4.84, from November 10, on official Nasdaq volume of 339,214,800 shares. Nvidia’s investor-relations lookup confirms the same official close and the same official open, high, and low for that session; it reports a volume of 313,417,400 shares. This article uses Nasdaq’s historical table as the official daily series and notes the IR volume difference rather than forcing the two volume figures together.
The November 11 close is the last official regular-session print used here. The 8-K says the board accepted the resignation on November 11. The newsroom release and the 8-K filing are dated November 12, and the EDGAR acceptance time is 8:52 a.m. on November 12, before the regular 9:30 a.m. Eastern cash open. This article therefore does not treat the November 11 official close as a post-announcement close, and it does not invent a November 12 official close. The official announcement is a November 12 fact. The official close series used for prices and for correlation ends on November 11.
The compact table below pairs recent official Nvidia closes with the Bitcoin and S&P 500 reference closes used in the correlation work. Bitcoin figures are Coinbase Exchange BTC-USD daily candle closes, dated at the start of each UTC day, through the complete November 11 UTC day. S&P 500 figures are daily closes from the Yahoo Finance ^GSPC series, kept only through the November 11 regular session. Methods and limitations follow the table.
| Date | NVDA official close (Nasdaq) | BTC-USD UTC daily close (Coinbase) | S&P 500 close (Yahoo ^GSPC) |
|---|---|---|---|
| October 29, 2026 | $213.66 | $77,780.33 | 7,720.39 |
| October 30, 2026 | $204.64 | $77,180.42 | 7,580.07 |
| November 2, 2026 | $202.06 | $76,674.13 | 7,541.40 |
| November 3, 2026 | $206.69 | $77,336.75 | 7,568.92 |
| November 4, 2026 | $200.13 | $80,428.31 | 7,688.62 |
| November 5, 2026 | $181.60 | $75,969.06 | 7,353.73 |
| November 6, 2026 | $186.64 | $75,731.04 | 7,376.86 |
| November 9, 2026 | $178.67 | $75,259.28 | 7,549.94 |
| November 10, 2026 | $168.89 | $73,697.87 | 7,520.93 |
| November 11, 2026 | $173.73 | $73,927.63 | 7,619.38 |
Why a November 12 cash print is not used as an official close
U.S. cash equities have an official regular-session close at the end of the regular Nasdaq session. This article’s last official Nvidia and S&P 500 closes are the November 11 regular-session closes, because a completed official November 12 regular-session close had not been retrieved as a settled official historical print. Intraday or pre-open quotes, including any quote visible during the November 12 session, are not official closes and are not used here. That is a dating rule, not a comment on how the November 12 session later ended.
The distinction matters because the official leadership announcement is dated November 12 and the 8-K was accepted before that day’s regular cash open. A reader who wants a market reaction to the official announcement needs a later official close, not an unfinished print and not a guess. This article leaves that later official close blank. It also does not convert unofficial pre-market percentage claims from secondary reports into official figures.
The Bitcoin series used here, and how it is dated
Bitcoin does not have a single official “cash close” in the same sense as a Nasdaq common stock. The series used as the primary Bitcoin reference is the official daily candle close on Coinbase Exchange for the BTC-USD product, retrieved from Coinbase’s public exchange candles endpoint at daily (86,400-second) granularity. Each candle is timestamped at the start of the UTC day. The close used is the official candle close for that UTC day. The last complete UTC daily close used here is November 11, 2026, at $73,927.63. An incomplete November 12 UTC daily candle is not used.
A Yahoo Finance BTC-USD daily series was retrieved as a cross-check, not as the primary source. On the same November 11 date, that series printed $73,964.47, a difference of about $37 from the Coinbase close. Across the recent paired dates in the table, absolute differences were typically in a range of a few dollars to a few tens of dollars, not hundreds. Year-to-date changes were also close: a decline of 15.51 percent on the Coinbase series from the December 31, 2025, close of $87,497.94, compared with a decline of 15.48 percent on the Yahoo series from $87,508.83. The correlation coefficients reported below were computed on the Coinbase series. Substituting the Yahoo series in a side calculation produced coefficients that rounded to the same three decimal places, or differed by one or two thousandths. The Coinbase series is still the official-exchange source cited as primary.
The clock difference is a real limitation and should be stated plainly. Nvidia’s official close is a U.S. regular-session equity close, in the late afternoon Eastern Time. The Coinbase daily close used here is a UTC-day close, which completes at 00:00 UTC the following day, or 7:00 p.m. Eastern Standard Time during this November window. The two prints are therefore not simultaneous. When a Monday Nvidia return is computed from Friday to Monday, the corresponding Bitcoin return uses the Friday UTC daily close and the Monday UTC daily close, so weekend Bitcoin trading is folded into that Monday pair. That is a standard way to place a seven-day crypto series onto an equity trading calendar. It is also why a coefficient should not be read as if both markets printed at the same official bell.
From December 31, 2025, through November 11, 2026, the Coinbase BTC-USD close declined 15.51 percent, to $73,927.63. Over the same official equity dates, Nvidia declined 6.85 percent and the S&P 500, on the Yahoo ^GSPC series, rose 11.30 percent, from 6,845.50 on December 31, 2025, to 7,619.38 on November 11. Cumulative moves in opposite or unequal directions can still produce a positive correlation of daily returns. That is one reason the method uses returns rather than price levels, and one reason a year-to-date percentage change should not be treated as if it were the correlation itself.
Method: daily returns, Pearson correlation, and the windows
The method is intentionally narrow. For each official Nvidia trading date t in a window, the Nvidia simple return is the official Nasdaq close on date t divided by the official close on the prior Nvidia trading date, minus one. The Bitcoin return for the same observation is the Coinbase UTC daily close on calendar date t divided by the Coinbase UTC daily close on the prior Nvidia trading date, minus one. The S&P 500 return is computed the same way on the Yahoo ^GSPC closes. Pearson’s product-moment correlation is then computed on those paired simple returns. No log-return alternative, no overnight/intraday split, and no GARCH or beta regression is reported here. Missing prints would have been dropped; in the windows below, every Nvidia trading date had a Coinbase close and a ^GSPC close.
Windows are defined by the number of return observations ending on November 11, 2026, except for the year-to-date window, which starts from the December 31, 2025, official closes and therefore has 217 return observations through November 11. The 30, 90, 180, and 252 trading-day windows use 31, 91, 181, and 253 official Nvidia prices, respectively, so that each window contains the stated number of returns. The first price in each of those windows is a base close, not the first return date. For the 30-day window, that base close is September 30, 2026. For the 90-day window it is July 7. For the 180-day window it is February 25. For the 252-day window it is November 10, 2025.
A shorter window from the October 6 official peak is also computed, but it is not given equal billing with the pre-specified 30/90/180/252 and year-to-date windows. Measuring from the session before the October 6 close, in order to include the first return that ends on the peak date, produces 27 returns through November 11 and a Pearson coefficient of 0.519 between Nvidia and Bitcoin. That is a useful check on the recent selloff, and it is still a short sample. A three-observation window from November 6 through November 11 is not reported as a coefficient at all.
Limitations belong next to the method, not in a footnote a reader can skip. Pearson correlation is a single linear summary. It can be pulled around by a few large daily moves, including the official 9.26 percent Nvidia decline on November 5. It does not say that Bitcoin “caused” an Nvidia move, or the reverse, or that a common unobserved factor has a stable loading. It does not survive a change of window automatically, which is why several windows are shown. It is also sensitive to the Bitcoin clock discussed above. Regimes can change around inflation prints, liquidity, and company-specific news. The official October CPI week and the later Bitcoin selloff account after that print are already on this site as separate official-data stories; they are context for the month, not inputs to the coefficient. This article does not invent a November 12 Farside ETF-flow total, and it does not treat listed-fund flows as a corporate-treasury explanation of Nvidia’s close.
What the coefficients show — and what they do not
On the Coinbase-paired official series, the Pearson correlation of daily Nvidia and Bitcoin returns was 0.544 over the 30 trading-day window, 0.356 over 90 days, 0.359 over 180 days, 0.382 year to date (217 observations), and 0.369 over 252 trading days. In every one of those pre-specified windows, Nvidia’s correlation with the S&P 500 was higher than its correlation with Bitcoin: 0.608, 0.566, 0.636, 0.641, and 0.633, respectively. Bitcoin’s own correlation with the S&P 500 was 0.672 in the 30-day window and between 0.451 and 0.468 in the longer windows. The short 30-day window is the period in which all three pairwise correlations are higher, and it is also the window in which Nvidia’s cumulative official decline, at 23.93 percent from the September 30 official close of $228.38, was much steeper than Bitcoin’s 11.52 percent decline from $83,556.14 or the S&P 500’s 0.42 percent decline from 7,651.54.
| Window (returns through Nov. 11, 2026) | Base close date | Observations | NVDA–BTC Pearson | NVDA–S&P 500 | BTC–S&P 500 |
|---|---|---|---|---|---|
| 30 trading-day returns | September 30, 2026 | 30 | 0.544 | 0.608 | 0.672 |
| 90 trading-day returns | July 7, 2026 | 90 | 0.356 | 0.566 | 0.454 |
| 180 trading-day returns | February 25, 2026 | 180 | 0.359 | 0.636 | 0.451 |
| Year to date 2026 | December 31, 2025 | 217 | 0.382 | 0.641 | 0.468 |
| 252 trading-day returns | November 10, 2025 | 252 | 0.369 | 0.633 | 0.466 |
The longer windows are the more cautious summary. Over 90 to 252 trading days, and over 2026 through November 11, Nvidia’s daily returns have been positively but moderately correlated with Bitcoin, in a band of about 0.36 to 0.38, and more tightly correlated with the S&P 500, in a band of about 0.57 to 0.64. That is a description of co-movement in daily returns, not a claim that Nvidia “trades like Bitcoin,” and not a claim that Bitcoin has become an official Nvidia hedge. The 30-day reading of 0.544 is higher, and it coincides with a sharp official Nvidia drawdown that the S&P 500 did not match in cumulative terms. A higher short-window coefficient during a selloff is a known pattern in risk assets; it is still a short window.
Cumulative returns underline the same warning. In the 90-day window, Nvidia’s official close declined 11.78 percent from $196.93, while the Coinbase Bitcoin close rose 16.75 percent from $63,323.27 and the S&P 500 rose 1.54 percent from 7,503.85. A reader who looks only at those cumulative percentages might conclude that Nvidia and Bitcoin had “decoupled.” The daily-return correlation over the same window was still 0.356. The two statements are compatible. Correlation describes whether days that are up or down for one series tend to be up or down for the other, not whether the net change over three months is the same sign or the same size.
A short reading of the late-October and early-November stretch
Session-level arithmetic on the official table is more informative than a slogan about “everything selling together.” On November 5, official Nvidia fell 9.26 percent, the Coinbase Bitcoin close fell 5.54 percent, and the S&P 500 fell 4.36 percent. The three official or reference series moved in the same direction that day, with Nvidia’s official decline the largest of the three. On November 9, the first cash session after the official November 8 board statement and employee message, the same three series did not move together. Official Nvidia fell 4.27 percent, the Coinbase Bitcoin close fell only 0.62 percent, and the S&P 500 rose 2.35 percent, from 7,376.86 to 7,549.94. A method that treated “risk-off” as a single official fact would hide that divergence. Nvidia’s official underperformance that day is consistent with a company-specific official news weekend; it is not proof, by itself, of a completed investigation or of a later resignation that had not yet been announced in the November 12 documents.
On November 10, official Nvidia fell another 5.47 percent, Bitcoin fell 2.07 percent, and the S&P 500 fell 0.38 percent. On November 11, official Nvidia rose 2.87 percent, Bitcoin rose 0.31 percent, and the S&P 500 rose 1.31 percent. Directionally, those two sessions are closer to a common move than November 9 was. They are still not lockstep, and they still end at an official Nvidia close that is 27.38 percent below the October 6 official close. From that official peak close, the Coinbase Bitcoin close declined 13.58 percent, from $85,539.77 on October 6 to $73,927.63, and the S&P 500 declined 2.55 percent, from 7,818.93. Nvidia’s official peak-to-November-11 drawdown was the largest of the three.
None of those official percentages is a November 12 announcement reaction, for the dating reasons already stated. None of them is a substitute for the still-unreleased November 17 quarterly results. And none of them is an official statement that Bitcoin “followed” Nvidia, or that listed bitcoin funds, as tracked in the existing November 10 official ETF-flow account, caused the equity close. The honest statistical claim is narrower: over the pre-specified windows through November 11, Nvidia’s official daily returns were positively correlated with Bitcoin daily returns, more strongly in the most recent 30 sessions than over the rest of 2026, and more strongly still with the S&P 500 than with Bitcoin in every pre-specified window.
The November 17 earnings date is still a scheduled event
The official November 12 release explicitly keeps the third-quarter fiscal 2027 report on the calendar already set: results at approximately 1:20 p.m. Pacific Time on Tuesday, November 17, then the earnings call at 2:00 p.m. Pacific Time. The October 28 conference-call notice remains the official description of that call, including that it will be webcast on investor.nvidia.com and that the question-and-answer session “will be limited to questions from financial analysts and institutional investors.” The fiscal quarter ended October 25, 2026. No official results, official revenue figure, official margin, or official outlook for that quarter is treated as known in this article.
The existing KCEX Blog preview of that report should stay what it was when it was written: a preview of a then-unreleased official print, not a results story, and not a leadership-transition story. This article is the later official-document and official-price account. It is not a second preview, and it does not update unofficial estimates. Readers who want a calendar for other official U.S. inflation and policy dates can use the existing CPI, PPI and FOMC calendar guide; that calendar does not fill Nvidia’s still-empty results cells.
What a later official results release would change is obvious and should not be guessed: the official quarterly figures themselves, any official commentary from the new interim chief executive officer, and the next official regular-session closes after those figures are out. What it would not automatically change is the November 11 official close already recorded, the November 12 official leadership documents already filed, or the historical correlation coefficients already computed on the windows that end on November 11. Those items remain dated facts after the earnings date, unless a later official correction is issued.
Frequently asked questions
What is the last official Nvidia close used in this article?
The official regular-session close of $173.73 on Wednesday, November 11, 2026, from Nasdaq’s historical daily table, confirmed on Nvidia’s investor-relations historical price lookup. A November 12 official close is not used.
Did Nvidia officially announce a CEO change?
Yes. The November 12 newsroom release and the Form 8-K filed the same day report that the board accepted Jen-Hsun Huang’s resignation as president, chief executive officer, and director on November 11, effective immediately, appointed Colette M. Kress as interim CEO while she continues as CFO, and appointed Harvey C. Jones as chair of the board.
Is the November 17 earnings report already out?
No. The November 12 official release says the third-quarter fiscal 2027 results remain scheduled for approximately 1:20 p.m. Pacific Time on November 17, with the call at 2:00 p.m. Pacific Time. Those results are not treated here as published.
What Bitcoin price series is used for the correlation?
Coinbase Exchange BTC-USD official daily candle closes, timestamped at the start of each UTC day, through the complete November 11, 2026, UTC daily close of $73,927.63. Yahoo Finance BTC-USD was used only as a cross-check.
What is the headline correlation figure?
There is no single official coefficient. Over 2026 through November 11, the Pearson correlation of daily Nvidia and Bitcoin returns was 0.382 on 217 observations. Over the last 30 trading-day returns it was 0.544. Over 90, 180, and 252 trading-day returns it was 0.356, 0.359, and 0.369. In each of those windows, Nvidia’s correlation with the S&P 500 was higher.
Does a positive correlation mean Bitcoin caused the Nvidia decline?
No. Pearson correlation on daily returns is a linear co-movement summary. It is not causation, not a hedge ratio, and not a claim about any KCEX product.
Sources and research limits
Primary official sources for the leadership events are Nvidia’s November 12, 2026, newsroom release, “NVIDIA Announces CEO Transition,” and the Form 8-K filed November 12, 2026, accession 0001045810-26-000082, period of report November 11, 2026, including Item 5.02 and Exhibit 99.1. Earlier official newsroom texts dated November 8 and November 10 are cited for the investigation record and the official employee message. Official prices for NVDA are Nasdaq historical daily closes through November 11, 2026, cross-checked on Nvidia’s IR historical price lookup for the latest official session. Bitcoin reference closes are Coinbase Exchange BTC-USD daily candles, with Yahoo Finance BTC-USD used only as a cross-check. S&P 500 closes are the Yahoo Finance ^GSPC daily series through November 11. The conference-call notice dated October 28, 2026, and the investor-relations events page are cited only for the still-scheduled November 17 report.
This article does not invent a November 12 official equity close, a completed investigation finding, unofficial market-capitalization losses, a November 12 Farside ETF-flow total, or any official result for the November 17 quarter. It does not use secondary reports about named third parties as if they were Nvidia’s official text. Correlation coefficients were computed from the retrieved official and reference daily series as documented above; they are not copied from a third-party research note. No implication is drawn for any KCEX trading product.
