BKNG vs VOO: Correlation
How closely do Booking Holdings (BKNG) and Vanguard S&P 500 ETF (VOO) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKNG and VOO?
On 3 years of weekly data the BKNG/VOO correlation comes out at 0.55, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.39 versus 0.55 over 3 years. The 5-year figure is 0.60, and annualized covariance runs at 230.7 %².
Among the 39 assets we track against BKNG, VOO ranks #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VOO outperformed by 29.7 percentage points (-9.1% for BKNG against +20.6% for VOO). The rolling one-year correlation moved between 0.36 and 0.75 over the past three years, a moderate range. Note the risk asymmetry: BKNG runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VOO: side by side
| BKNG (Booking Holdings) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | -9.1% | +20.6% |
| 5-year return | +127.1% | +83.0% |
| Volatility (ann.) | 29.1% | 14.4% |
| Beta vs S&P 500 | 1.11 | 0.99 |
| Max drawdown (3Y) | -33.4% | -18.7% |
| Market cap | $152.2B | – |
| P/E (trailing) | 23.2 | – |
| Dividend yield | 0.77% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | Consumer Discretionary | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | BKNG | VOO |
|---|---|---|
| 2022 | -16.0% | -18.2% |
| 2023 | +76.0% | +26.3% |
| 2024 | +41.3% | +25.0% |
| 2025 | +8.6% | +17.8% |
| 2026 | -5.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VOO holds BKNG at a 0.23% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are BKNG and VOO good diversifiers for each other?
To a limited degree. At 0.55 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 VOO?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.39 over the last year and 0.60 over 5 years.
Is VOO a good diversifier for BKNG?
To a limited degree. At 0.55 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 0.55 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.
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Related comparisons
Hubs: BKNG correlations · VOO correlations
