We design and analyze interacting online algorithms for multitask classification that perform better than independent learners whenever the tasks are related in a certain sense. We formalize task relatedness in different ways, and derive formal guarantees on the performance advantage provided by interaction. Our online analysis gives new stimulating insights into previously known co-regularization techniques, such as the multitask kernels and the margin correlation analysis for multiview learning. In the last part we apply our approach to spectral co-regularization: we introduce a natural matrix extension of the quasiadditive algorithm for classification and prove bounds depending on certain unitarily invariant norms of the matrix of task coefficients.