We employ annually averaged solar and geomagnetic activity indices for the period 1960 -2001 to analyze the relationship between different measures of solar activity as well as the relationship between solar activity and various aspects of geomagnetic activity. In particular, to quantify the solar activity we use the sunspot number R s , group sunspot number R g , cumulative sunspot area Cum, solar radio flux F 10.7, and interplanetary magnetic field strength IMF. For the geomagnetic activity we employ global indices Ap, Dst and Dcx, as well as the regional geomagnetic index RES, specifically estimated for the European region. In the paper we present the relative evolution of these indices and quantify the correlations between them. Variations have been found in: i) time lag between the solar and geomagnetic indices; ii) relative amplitude of the geomagnetic and solar activity peaks; iii) dual-peak distribution in some of solar and geomagnetic indices. The behavior of geomagnetic indices is correlated the best with IMF variations. Interestingly, among geomagnetic indices, RES shows the highest degree of correlation with solar indices.