BKNG vs QUAL: Correlation
Booking Holdings (BKNG) and iShares MSCI USA Quality Factor ETF (QUAL) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKNG and QUAL?
Across a 3-year window, the weekly returns of BKNG and QUAL correlate at 0.56, moderate. The past 12 months show a weaker link (0.41) than the 3-year average (0.56). Stretching to 5 years gives 0.59, with an annualized covariance of 225.3 %².
Among the 39 assets we track against BKNG, QUAL ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QUAL ahead by 28.8 points (-9.1% versus +19.7%). Across three years, the rolling one-year figure varied moderately, from 0.38 to 0.76. Risk is not evenly split, since BKNG carries 2.1 times the volatility of the other side.
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 QUAL: side by side
| BKNG (Booking Holdings) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | -9.1% | +19.7% |
| 5-year return | +127.1% | +68.0% |
| Volatility (ann.) | 29.1% | 14.0% |
| Beta vs S&P 500 | 1.11 | 0.93 |
| Max drawdown (3Y) | -33.4% | -18.0% |
| Market cap | $152.2B | – |
| P/E (trailing) | 23.2 | – |
| Dividend yield | 0.77% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | Consumer Discretionary | ETF · US Style |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | BKNG | QUAL |
|---|---|---|
| 2022 | -16.0% | -20.5% |
| 2023 | +76.0% | +30.9% |
| 2024 | +41.3% | +22.3% |
| 2025 | +8.6% | +12.7% |
| 2026 | -5.0% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKNG and QUAL good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BKNG and QUAL?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.41 over the last year and 0.59 over 5 years.
Is QUAL a good diversifier for BKNG?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bkng-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bkng-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BKNG correlations · QUAL correlations
