The phenomenon of frequency coupling is widely observed in grid-forming (GFM) converters due to the presence of asymmetrical controls and nonlinear blocks. However, the factors influencing frequency coupling have not been thoroughly explored. This paper introduces a systematic small-signal impedance model of GFM converters that intuitively reflects the factors affecting frequency coupling and provides a detailed analysis of how coupling impedance affects stability. It is demonstrated that the influencing factors of coupling impedance are an active power loop and reactive power loop. Specifically, the active power loop influences coupling impedance characteristics near the fundamental frequency, while the reactive power loop impacts the entire frequency range. This paper first reveals that the reactive power loop has a more pronounced effect on frequency coupling than the active power loop. Additionally, the variation in the steady-state operating points also affects the degree of frequency coupling of the GFM converters, primarily affecting the coupling impedance characteristics beyond the fundamental frequency, and the low operating points tend to affect system stability adversely. Finally, simulation results validate the accuracy of the mathematical model and theoretical analysis.