DOCN vs GBTG: Correlation
Measured on weekly returns over the past three years, DigitalOcean Holdings, Inc. (DOCN) and Global Business Travel Group, Inc. (GBTG) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOCN and GBTG?
Across a 3-year window, the weekly returns of DOCN and GBTG correlate at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 1820.4 %².
Few assets follow DOCN as closely as GBTG, which ranks #3 of 16 tracked partners. Correlation aside, the last 12 months split them widely, with DOCN ahead by 261.2 points (+276.0% versus +14.8%).
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.
DOCN vs GBTG: side by side
| DOCN (DigitalOcean Holdings, Inc.) | GBTG (Global Business Travel Group, Inc.) | |
|---|---|---|
| 1-year return | +276.0% | +14.8% |
| 5-year return | +95.5% | n/a |
| Volatility (ann.) | 64.8% | 50.5% |
| Beta vs S&P 500 | 1.71 | 1.39 |
| Max drawdown (3Y) | -44.9% | -48.0% |
| Market cap | $14.3B | $4.9B |
| P/E (trailing) | 52.4 | 59.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DOCN | GBTG |
|---|---|---|
| 2022 | -68.3% | – |
| 2023 | +44.1% | -4.4% |
| 2024 | -7.1% | +43.9% |
| 2025 | +41.2% | -17.6% |
| 2026 | +152.9% | +23.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOCN and GBTG good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DOCN and GBTG?
The DOCN/GBTG correlation stands at 0.56 on a 3-year window (1 year: 0.57, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is GBTG a good diversifier for DOCN?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 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/docn-vs-gbtg.json
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[](https://www.pairbook.io/pair/docn-vs-gbtg/)
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Related comparisons
Hubs: DOCN correlations · GBTG correlations
