If you want to be pedantic, sure, there is some small amount of correlation there. But in the real world, I've seen people pass coding interviews who were incapable of writing software and I've seen people fail coding interviews who I knew could code circles around the interviewers. But, as usual on a site like this, being a pedant is an absolute must.
I did not intend to be pedantic at all. The difference between little correlation and none is small on a number line but very large in meaning. If there was no correlation whatsoever, that would imply that pretty much every software company is behaving irrationally by wasting their time interviewing people - that is, simply hiring at random would be better. This obviously isn't the case.
