VIK vs. RCL

Last updated Aug 1, 2026

VIK (Viking Holdings Ltd) and RCL (Royal Caribbean Cruises Ltd.) are both stocks. Both operate in the Travel Services industry within the Consumer Cyclical sector. Over the past year, VIK returned 81.29% vs 3.02% for RCL. Their 0.67 correlation means they have sometimes moved together and sometimes differently.

Performance

VIK vs. RCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Viking Holdings Ltd (VIK) and Royal Caribbean Cruises Ltd. (RCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIK achieves a 46.13% return, which is significantly higher than RCL's 15.32% return.

VIK

• 1D: -0.10%
• 1M: 3.63%
• 6M: 44.63%
• YTD: 46.13%
• 1Y: 81.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 85.09%

RCL

• 1D: -1.13%
• 1M: 7.42%
• 6M: -0.92%
• YTD: 15.32%
• 1Y: 3.02%
• 3Y*: 44.96%
• 5Y*: 33.61%
• 10Y*: 18.18%
• ALL TIME*: 12.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RCL Royal Caribbean Cruises Ltd.	$849.01M	$733.81M	$792.03M
VIK Viking Holdings Ltd	$200.99M	$202.67M	$270.16M

VIK vs. RCL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VIK Viking Holdings Ltd	46.13%	62.07%	68.49%
RCL Royal Caribbean Cruises Ltd.	15.32%	22.46%	65.99%

Correlation

The correlation between VIK and RCL is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since May 1, 2024	0.67

The correlation between VIK and RCL has been stable across timeframes, ranging from 0.67 to 0.67 - a consistent structural relationship.

Fundamentals

Market Cap VIK : $46.36B RCL : $85.37B
EPS VIK : $2.69 RCL : $16.18
PE Ratio VIK : 38.78 RCL : 19.67
PEG Ratio VIK : 0.14 RCL : 0.90
PS Ratio VIK : 6.98 RCL : 4.63
PB Ratio VIK : 43.62 RCL : 8.40
Total Revenue (TTM) VIK : $6.66B RCL : $18.68B
Gross Profit (TTM) VIK : $2.58B RCL : $8.71B
EBITDA (TTM) VIK : $1.74B RCL : $7.22B

Return for Risk

VIK vs. RCL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VIK

VIK Risk / Return Rank: 92
VIK Sharpe Ratio Rank: 92
VIK Sortino Ratio Rank: 91
VIK Omega Ratio Rank: 88
VIK Calmar Ratio Rank: 95
VIK Martin Ratio Rank: 95

RCL

RCL Risk / Return Rank: 45
RCL Sharpe Ratio Rank: 46
RCL Sortino Ratio Rank: 45
RCL Omega Ratio Rank: 43
RCL Calmar Ratio Rank: 47
RCL Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VIK vs. RCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Viking Holdings Ltd (VIK) and Royal Caribbean Cruises Ltd. (RCL). 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.

	VIK	RCL	Difference
Sharpe ratio: Return per unit of total volatility	2.04	0.04	+2.00
Sortino ratio: Return per unit of downside risk	2.85	0.43	+2.42
Omega ratio: Gain probability vs. loss probability	1.33	1.05	+0.28
Calmar ratio: Return relative to maximum drawdown	5.23	0.06	+5.17
Martin ratio: Return relative to average drawdown	13.98	0.09	+13.89

VIK vs. RCL - Sharpe Ratio Comparison

The current VIK Sharpe Ratio is 2.04, which is higher than the RCL Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of VIK and RCL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VIK vs. RCL - Drawdown Comparison

The maximum VIK drawdown since its inception was -35.39%, smaller than the maximum RCL drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for VIK and RCL.

Drawdown Indicators

	VIK	RCL	Difference
Max Drawdown Largest peak-to-trough decline	-35.39%	-89.49%	+54.10%
Max Drawdown (1Y) Largest decline over 1 year	-14.94%	-32.36%	+17.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-67.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-83.30%	—
Current Drawdown Current decline from peak	-0.57%	-11.51%	+10.94%
Average Drawdown Average peak-to-trough decline	-5.87%	-27.72%	+21.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.58%	19.89%	-14.31%

Volatility

VIK vs. RCL - Volatility Comparison

The current volatility for Viking Holdings Ltd (VIK) is 6.93%, while Royal Caribbean Cruises Ltd. (RCL) has a volatility of 10.87%. This indicates that VIK experiences smaller price fluctuations and is considered to be less risky than RCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIK	RCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.93%	10.87%	-3.94%
Volatility (6M) Calculated over the trailing 6-month period	31.79%	33.92%	-2.13%
Volatility (1Y) Calculated over the trailing 1-year period	38.37%	47.34%	-8.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.09%	48.37%	-8.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.09%	53.36%	-13.27%

Dividends

VIK vs. RCL - Dividend Comparison

VIK has not paid dividends to shareholders, while RCL's dividend yield for the trailing twelve months is around 1.57%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RCL Royal Caribbean Cruises Ltd.	1.57%	1.25%	0.41%	0.00%	0.00%	0.00%	1.04%	2.22%	2.66%	1.81%	2.08%	1.33%
VIK Viking Holdings Ltd	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

VIK vs. RCL - Profitability Comparison

The chart below illustrates the profitability comparison between Viking Holdings Ltd and Royal Caribbean Cruises Ltd. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

VIK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Viking Holdings Ltd reported a gross profit of 284.28M and revenue of 1.05B. Therefore, the gross margin over that period was 27.0%.

RCL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Royal Caribbean Cruises Ltd. reported a gross profit of 2.29B and revenue of 4.83B. Therefore, the gross margin over that period was 47.3%.

VIK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Viking Holdings Ltd reported an operating income of 12.06M and revenue of 1.05B, resulting in an operating margin of 1.1%.

RCL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Royal Caribbean Cruises Ltd. reported an operating income of 1.31B and revenue of 4.83B, resulting in an operating margin of 27.1%.

VIK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Viking Holdings Ltd reported a net income of -54.38M and revenue of 1.05B, resulting in a net margin of -5.2%.

RCL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Royal Caribbean Cruises Ltd. reported a net income of 1.13B and revenue of 4.83B, resulting in a net margin of 23.3%.

Frequently Asked Questions

Can I hold both VIK and RCL in my portfolio?

VIK and RCL have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIK or RCL?

RCL has higher volatility (10.87%) compared to VIK (6.93%). In terms of maximum drawdown, VIK dropped -35.39% vs RCL's -89.49%.

Which has better risk-adjusted returns?

VIK currently has the higher Sharpe Ratio (2.04 vs 0.04), 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.