BKNG vs BTI: Correlation
Measured on weekly returns over the past three years, Booking Holdings (BKNG) and British American Tobacco Industries, p.l.c. (BTI) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKNG and BTI?
Over the past 3 years, BKNG and BTI moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.38 versus -0.19 over 3 years. Over 5 years the correlation is 0.05, and the annualized covariance of weekly returns is -125.2 %².
Within BKNG's tracked universe of 39 assets, BTI comes in at #32 by 3-year correlation. On 12-month performance BTI holds a 13.9-point edge, -9.1% against +4.8%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BKNG vs BTI: side by side
| BKNG (Booking Holdings) | BTI (British American Tobacco Industries, p.l.c.) | |
|---|---|---|
| 1-year return | -9.1% | +4.8% |
| 5-year return | +127.1% | +119.4% |
| Volatility (ann.) | 29.1% | 22.5% |
| Beta vs S&P 500 | 1.11 | 0.06 |
| Max drawdown (3Y) | -33.4% | -15.3% |
| Market cap | $152.2B | $121.2B |
| P/E (trailing) | 23.2 | 14.5 |
| Dividend yield | 0.77% | 4.27% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | BKNG | BTI |
|---|---|---|
| 2022 | -16.0% | +15.1% |
| 2023 | +76.0% | -20.1% |
| 2024 | +41.3% | +35.4% |
| 2025 | +8.6% | +65.8% |
| 2026 | -5.0% | +2.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKNG and BTI good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BKNG and BTI?
As of 2026-08-27, the correlation of weekly returns between BKNG and BTI is -0.19 over 3 years, -0.38 over 1 year and 0.05 over 5 years.
Is BTI a good diversifier for BKNG?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bkng-vs-bti.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bkng-vs-bti/)
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Related comparisons
Hubs: BKNG correlations · BTI correlations
