BKNG vs SO: Correlation
Measured on weekly returns over the past three years, Booking Holdings (BKNG) and Southern Company (SO) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKNG and SO?
Across a 3-year window, the weekly returns of BKNG and SO correlate at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Stretching to 5 years gives -0.03, with an annualized covariance of -97.7 %².
Out of 39 assets tracked against BKNG, SO lands near the bottom at #35. Over the last 12 months SO came out ahead by 7.7 percentage points (-9.1% against -1.4%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.47 and 0.15 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since BKNG carries 1.8 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 SO: side by side
| BKNG (Booking Holdings) | SO (Southern Company) | |
|---|---|---|
| 1-year return | -9.1% | -1.4% |
| 5-year return | +127.1% | +62.6% |
| Volatility (ann.) | 29.1% | 16.5% |
| Beta vs S&P 500 | 1.11 | -0.02 |
| Max drawdown (3Y) | -33.4% | -15.0% |
| Market cap | $152.2B | $102.4B |
| P/E (trailing) | 23.2 | 21.7 |
| Dividend yield | 0.77% | 3.32% |
| Sector / category | Consumer Discretionary | Utilities |
Year-by-year returns
| Year | BKNG | SO |
|---|---|---|
| 2022 | -16.0% | +8.2% |
| 2023 | +76.0% | +2.2% |
| 2024 | +41.3% | +21.7% |
| 2025 | +8.6% | +9.5% |
| 2026 | -5.0% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKNG and SO good diversifiers for each other?
Yes. With a correlation of -0.20, BKNG and SO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BKNG and SO?
As of 2026-08-27, the correlation of weekly returns between BKNG and SO is -0.20 over 3 years, -0.27 over 1 year and -0.03 over 5 years.
Is SO a good diversifier for BKNG?
Yes. With a correlation of -0.20, BKNG and SO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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.
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Hubs: BKNG correlations · SO correlations
