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 -38.56% vs 46.41% 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 -25.27% return, which is significantly lower than GBTG's 22.48% return.
HODL
- 1D
- -2.79%
- 1M
- -18.34%
- YTD
- -25.27%
- 6M
- -29.73%
- 1Y
- -38.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GBTG
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 22.48%
- 6M
- 17.12%
- 1Y
- 46.41%
- 3Y*
- 6.85%
- 5Y*
- -0.91%
- 10Y*
- —
HODL vs. GBTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HODL VanEck Bitcoin Trust | -25.27% | -6.42% | 99.75% |
GBTG Global Business Travel Group Inc | 22.48% | -17.56% | 55.44% |
Correlation
The correlation between HODL and GBTG 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 |
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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.
| HODL | GBTG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.89 | 0.67 | -1.56 |
Sortino ratioReturn per unit of downside risk | -1.23 | 2.08 | -3.31 |
Omega ratioGain probability vs. loss probability | 0.86 | 1.26 | -0.40 |
Calmar ratioReturn relative to maximum drawdown | -0.79 | 1.15 | -1.94 |
Martin ratioReturn relative to average drawdown | -1.36 | 2.70 | -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. | |||
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Sharpe Ratios by Period
| HODL | GBTG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.89 | 0.67 | -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 | 0.30 | -0.01 | +0.31 |
Drawdowns
HODL vs. GBTG - Drawdown Comparison
The maximum HODL drawdown since its inception was -49.25%, 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 | -49.25% | -60.07% | +10.82% |
Max Drawdown (1Y)Largest decline over 1 year | -49.25% | -40.41% | -8.84% |
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 | -47.93% | -14.97% | -32.96% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -30.16% | +14.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.35% | 17.26% | +11.09% |
Volatility
HODL vs. GBTG - Volatility Comparison
VanEck Bitcoin Trust (HODL) has a higher volatility of 9.43% compared to Global Business Travel Group Inc (GBTG) at 2.94%. 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 | 9.43% | 2.94% | +6.49% |
Volatility (6M)Calculated over the trailing 6-month period | 34.37% | 54.50% | -20.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.51% | 69.82% | -26.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.88% | 49.42% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.88% | 47.26% | +2.62% |
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 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HODL has higher volatility (9.43%) compared to GBTG (2.94%). In terms of maximum drawdown, HODL dropped -49.25% vs GBTG's -60.07%.
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.
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