HODL vs. GBTG
HODL (VanEck Bitcoin Trust) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while GBTG (Global Business Travel Group Inc) is a stock. Over the past year, HODL returned -39.68% vs 51.53% for GBTG. At a 0.20 correlation, their price movements are largely independent.
Performance
HODL vs. GBTG - Performance Comparison
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Returns By Period
In the year-to-date period, HODL achieves a -28.75% return, which is significantly lower than GBTG's 22.61% return.
HODL
- 1D
- -3.24%
- 1M
- -17.82%
- YTD
- -28.75%
- 6M
- -28.92%
- 1Y
- -39.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GBTG
- 1D
- -0.11%
- 1M
- -0.64%
- YTD
- 22.61%
- 6M
- 22.29%
- 1Y
- 51.53%
- 3Y*
- 6.03%
- 5Y*
- -0.87%
- 10Y*
- —
HODL vs. GBTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HODL VanEck Bitcoin Trust | -28.75% | -6.42% | 91.50% |
GBTG Global Business Travel Group Inc | 22.61% | -17.56% | 54.41% |
Correlation
The correlation between HODL and GBTG is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.20 |
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Return for Risk
HODL vs. GBTG — Risk / Return Rank
HODL
GBTG
HODL vs. GBTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin Trust (HODL) and Global Business Travel Group Inc (GBTG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HODL | GBTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -3.50 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.29 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.28 | -2.05 |
| Martin ratioReturn relative to average drawdown | -1.30 | 3.00 | -4.31 |
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Drawdowns
HODL vs. GBTG - Drawdown Comparison
The maximum HODL drawdown since its inception was -51.96%, smaller than the maximum GBTG drawdown of -60.07%. Use the drawdown chart below to compare losses from any high point for HODL and GBTG.
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Drawdown Indicators
| HODL | GBTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.96% | -60.07% | +8.11% |
Max Drawdown (1Y)Largest decline over 1 year | -51.96% | -40.41% | -11.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -48.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -56.00% | — |
Current DrawdownCurrent decline from peak | -50.35% | -14.88% | -35.47% |
Average DrawdownAverage peak-to-trough decline | -16.78% | -30.00% | +13.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.49% | 17.21% | +13.28% |
Volatility
HODL vs. GBTG - Volatility Comparison
VanEck Bitcoin Trust (HODL) has a higher volatility of 13.07% compared to Global Business Travel Group Inc (GBTG) at 2.09%. This indicates that HODL's price experiences larger fluctuations and is considered to be riskier than GBTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HODL | GBTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.07% | 2.09% | +10.98% |
Volatility (6M)Calculated over the trailing 6-month period | 34.59% | 53.77% | -19.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.11% | 69.53% | -25.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.89% | 49.44% | +0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.89% | 47.02% | +2.87% |
Dividends
HODL vs. GBTG - Dividend Comparison
Neither HODL nor GBTG has paid dividends to shareholders.
Frequently Asked Questions
HODL and GBTG have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HODL has higher volatility (13.07%) compared to GBTG (2.09%). In terms of maximum drawdown, HODL dropped -51.96% vs GBTG's -60.07%.
GBTG currently has the higher Sharpe Ratio (0.75 vs -0.90), 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.
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