GBTG vs RXT: Correlation
Global Business Travel Group, Inc. (GBTG) and Rackspace Technology, Inc. (RXT) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBTG and RXT?
Across a 3-year window, the weekly returns of GBTG and RXT correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.51 over 3. Stretching to 5 years gives 0.42, with an annualized covariance of 5884.8 %².
Among the 27 assets we track against GBTG, RXT ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RXT ahead by 164.5 points (+14.8% versus +179.3%). Note the risk asymmetry: RXT runs 4.6 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.
GBTG vs RXT: side by side
| GBTG (Global Business Travel Group, Inc.) | RXT (Rackspace Technology, Inc.) | |
|---|---|---|
| 1-year return | +14.8% | +179.3% |
| 5-year return | n/a | -75.7% |
| Volatility (ann.) | 50.5% | 230.1% |
| Beta vs S&P 500 | 1.39 | 3.34 |
| Max drawdown (3Y) | -48.0% | -86.5% |
| Market cap | $4.9B | $0.9B |
| P/E (trailing) | 59.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBTG | RXT |
|---|---|---|
| 2022 | – | -78.1% |
| 2023 | -4.4% | -32.2% |
| 2024 | +43.9% | +10.5% |
| 2025 | -17.6% | -56.1% |
| 2026 | +23.7% | +248.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBTG and RXT good diversifiers for each other?
Only partially. A correlation of 0.51 means GBTG and RXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GBTG and RXT?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.61 over the last year and 0.42 over 5 years.
Is RXT a good diversifier for GBTG?
Only partially. A correlation of 0.51 means GBTG and RXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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/gbtg-vs-rxt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gbtg-vs-rxt/)
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Related comparisons
Hubs: GBTG correlations · RXT correlations
