BKNG vs CNQ: Correlation
Booking Holdings (BKNG) and Canadian Natural Resources Limited (CNQ) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKNG and CNQ?
Over the past 3 years, BKNG and CNQ moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.18 over 3 years. Over 5 years the correlation is 0.10, and the annualized covariance of weekly returns is -157.8 %².
By 3-year correlation, CNQ places #30 of the 39 assets tracked against BKNG. Correlation aside, the last 12 months split them widely, with CNQ ahead by 71.3 points (-9.1% versus +62.2%).
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 CNQ: side by side
| BKNG (Booking Holdings) | CNQ (Canadian Natural Resources Limited) | |
|---|---|---|
| 1-year return | -9.1% | +62.2% |
| 5-year return | +127.1% | +281.3% |
| Volatility (ann.) | 29.1% | 29.4% |
| Beta vs S&P 500 | 1.11 | 0.06 |
| Max drawdown (3Y) | -33.4% | -35.9% |
| Market cap | $152.2B | $102.6B |
| P/E (trailing) | 23.2 | 12.3 |
| Dividend yield | 0.77% | 4.89% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | BKNG | CNQ |
|---|---|---|
| 2022 | -16.0% | +42.9% |
| 2023 | +76.0% | +23.7% |
| 2024 | +41.3% | -1.3% |
| 2025 | +8.6% | +12.6% |
| 2026 | -5.0% | +50.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKNG and CNQ good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BKNG and CNQ?
As of 2026-08-27, the correlation of weekly returns between BKNG and CNQ is -0.18 over 3 years, -0.41 over 1 year and 0.10 over 5 years.
Is CNQ a good diversifier for BKNG?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
A reading of -0.18 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bkng-vs-cnq.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: BKNG correlations · CNQ correlations
