GBTG vs. HODL

Last updated Jun 4, 2026

GBTG (Global Business Travel Group Inc) is a stock, while HODL (VanEck Bitcoin Trust) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Over the past year, GBTG returned 46.41% vs -38.56% for HODL. At a 0.20 correlation, their price movements are largely independent.

Performance

GBTG vs. HODL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global Business Travel Group Inc (GBTG) and VanEck Bitcoin Trust (HODL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GBTG achieves a 22.48% return, which is significantly higher than HODL's -25.27% return.

GBTG

• 1D: 0.00%
• 1M: 0.32%
• YTD: 22.48%
• 6M: 17.12%
• 1Y: 46.41%
• 3Y*: 6.85%
• 5Y*: -0.91%
• 10Y*: —

HODL

• 1D: -2.79%
• 1M: -18.34%
• YTD: -25.27%
• 6M: -29.73%
• 1Y: -38.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GBTG vs. HODL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GBTG Global Business Travel Group Inc	22.48%	-17.56%	55.44%
HODL VanEck Bitcoin Trust	-25.27%	-6.42%	99.75%

Correlation

The correlation between GBTG and HODL is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.20

Return for Risk

GBTG vs. HODL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GBTG

GBTG Risk / Return Rank: 69
GBTG Sharpe Ratio Rank: 63
GBTG Sortino Ratio Rank: 77
GBTG Omega Ratio Rank: 75
GBTG Calmar Ratio Rank: 64
GBTG Martin Ratio Rank: 65

HODL

HODL Risk / Return Rank: 2
HODL Sharpe Ratio Rank: 2
HODL Sortino Ratio Rank: 2
HODL Omega Ratio Rank: 2
HODL Calmar Ratio Rank: 2
HODL Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GBTG vs. HODL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global Business Travel Group Inc (GBTG) and VanEck Bitcoin Trust (HODL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GBTG	HODL	Difference
Sharpe ratio Return per unit of total volatility	0.67	-0.89	+1.56
Sortino ratio Return per unit of downside risk	2.08	-1.23	+3.31
Omega ratio Gain probability vs. loss probability	1.26	0.86	+0.40
Calmar ratio Return relative to maximum drawdown	1.15	-0.79	+1.94
Martin ratio Return relative to average drawdown	2.70	-1.36	+4.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GBTG vs. HODL - Sharpe Ratio Comparison

The current GBTG Sharpe Ratio is 0.67, which is higher than the HODL Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of GBTG and HODL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GBTG	HODL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	-0.89	+1.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.30	-0.31

Drawdowns

GBTG vs. HODL - Drawdown Comparison

The maximum GBTG drawdown since its inception was -60.07%, which is greater than HODL's maximum drawdown of -49.25%. Use the drawdown chart below to compare losses from any high point for GBTG and HODL.

Drawdown Indicators

	GBTG	HODL	Difference
Max Drawdown Largest peak-to-trough decline	-60.07%	-49.25%	-10.82%
Max Drawdown (1Y) Largest decline over 1 year	-40.41%	-49.25%	+8.84%
Max Drawdown (3Y) Largest decline over 3 years	-48.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-56.00%	—	—
Current Drawdown Current decline from peak	-14.97%	-47.93%	+32.96%
Average Drawdown Average peak-to-trough decline	-30.16%	-15.97%	-14.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.26%	28.35%	-11.09%

Volatility

GBTG vs. HODL - Volatility Comparison

The current volatility for Global Business Travel Group Inc (GBTG) is 2.94%, while VanEck Bitcoin Trust (HODL) has a volatility of 9.43%. This indicates that GBTG experiences smaller price fluctuations and is considered to be less risky than HODL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBTG	HODL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	9.43%	-6.49%
Volatility (6M) Calculated over the trailing 6-month period	54.50%	34.37%	+20.13%
Volatility (1Y) Calculated over the trailing 1-year period	69.82%	43.51%	+26.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.42%	49.88%	-0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.26%	49.88%	-2.62%

Dividends

GBTG vs. HODL - Dividend Comparison

Neither GBTG nor HODL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GBTG and HODL in my portfolio?

GBTG and HODL have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GBTG or HODL?

HODL has higher volatility (9.43%) compared to GBTG (2.94%). In terms of maximum drawdown, GBTG dropped -60.07% vs HODL's -49.25%.

Which has better risk-adjusted returns?

GBTG currently has the higher Sharpe Ratio (0.67 vs -0.89), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.