Yes wolves and coyotes are related closely to each other.
The same goes for domestic dogs as well as domestic dogs and wolves and coyotes are also related to each other very closely.
Dogs, coyotes and even wolves can all mate with each other and can interbreed and produce viable, fertile offspring together.
Also through DNA analysis, scientists have established that the wolf is the ancestor of the dog.
So when you see a dog or have a dog it's an ancestor and relation to a wolf and a coyote.