# How Booking (BKNG) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/bkng
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on BKNG alone. It places BKNG (Booking Holdings Inc.) against 17 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where BKNG stands in the market, and of the alternatives worth a closer look.

Period covered: BKNG's full trading record, from March 1999 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** BKNG has gone against the market, falling 14.2% over the past 6 months while the S&P 500 rose 9.1%. BKNG is 28.8% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record.
- **Stock or market?:** The weakness is BKNG's own: it fell 8.4% over the past 3 months while the consumer discretionary sector ETF XLY (State Street Consumer Discretionary Select Sector SPDR ETF) rose 1.0%. The S&P 500 rose 3.9%. Its travel services peers did not move as one over the past 3 months: ABNB (Airbnb) rose 22.1%, while TRIP (Tripadvisor) fell 34.0%.
- **Past 1 to 3 years:** Over the past year, BKNG fell 19.6% while the S&P 500 rose 15.8%. The same gap shows up over 3 years (52.2% against 89.3%).
- **Long term:** BKNG turned $10,000 into $28,600 over the past decade, against $42,100 in the S&P 500. That said, it finished ahead of the S&P 500 in 17 of its 26 calendar years.
- **In a crash:** Across seven sell-offs, BKNG has typically fallen 1.5 times as far as the S&P 500.
- **Diversification:** Against the S&P 500, BKNG has a correlation of 0.58 over 5 years, more closely than 88% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, BKNG's beta versus the S&P 500 was 1.17: in the S&P 500's rising months it gained 1.0 times as much as the index, and in falling months it lost 1.2 times as much.
- **Better options**
  - **Popular alternatives:** MAR (Marriott International) and HLT (Hilton Worldwide) earned more than BKNG with less volatility over the past 5 years. MAR returned 22.0% a year at 28.6% volatility, against 12.0% a year at 33.2%.
  - **Nearby categories and themes:** IHG (InterContinental Hotels Group, hotels & resorts) earned more than BKNG with less volatility over the past 5 years: 21.4% a year at 26.6% volatility, against 12.0% a year at 33.2%.
  - **Whole market:** 368 of the 3,633 stocks and funds worth at least $500 million earned more than BKNG with less volatility over the past 5 years, among them AAPL (Apple), BRK-B (Berkshire Hathaway) and BRK-A (Berkshire Hathaway).

## How much would $10,000 in BKNG have grown?

This chart tracks a hypothetical $10,000 investment in BKNG over the past 27 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of BKNG over the same span and BKNG's popular alternatives, among those that traded for the entire period.

- $10,000 invested in BKNG at the end of September 1999 would have grown to $107,744 by September 2026, more than the $95,018 it would have become in SPY, an S&P 500 fund.
- Five of the seven other investments on the chart ended ahead of BKNG, and RY finished highest, at $500,230.

## BKNG at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- BKNG is still 28.8% below its all-time high.
- BKNG's deepest decline since it began trading in 1999 was 99.3%, from April 1999 to October 2002. It took about 11 years from the low to climb back to its old high.
- Over 26 full calendar years, BKNG's best was 2001, when it returned 345%, and its worst was 2000, when it lost 97.2%. It lost money in seven of those years.

- Type: Stock, Consumer Discretionary (Travel Services)
- Trading since: March 30, 1999
- Market value: $123B
- Volatility (5 years): 33.2%; Sharpe ratio: 0.51
- Worst decline ever: −99.3%, from April 30, 1999 to October 9, 2002; back at its high by September 10, 2013

| Period | BKNG total return |
| --- | --- |
| 1 month | −2.7% |
| 3 months | −8.4% |
| 6 months | −14.2% |
| year to date | −22.5% |
| 1 year | −19.6% |
| 3 years | +52.2% |
| 5 years | +75.9% |
| 10 years | +186% |

## BKNG against the whole market

Where BKNG ranks among every stock and fund, and what across the market has done better.

### How does BKNG rank among all stocks?

This section ranks BKNG on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- BKNG's worst decline of the past 10 years ranks in the top 17% of the 2,187 stocks worth at least $300 million, where the top fell the least.
- BKNG's 1-year return ranks in the bottom 20% of the 3,287 stocks worth at least $300 million with 1 year of history.

| Measure | BKNG | Rank |
| --- | --- | --- |
| 1-year return | −19.6% | 2,624 of 3,287 (top 80%) |
| 3-year return | +52.2% | 1,508 of 3,017 (top 50%) |
| 5-year return | +75.9% | 851 of 2,893 (top 30%) |
| 10-year return | +186% | 923 of 2,202 (top 42%) |
| Volatility, 5 years | 33.2% | 1,009 of 2,893 (top 35%) |
| Sharpe ratio, 5 years | 0.51 | 907 of 2,893 (top 32%) |
| Worst decline, past 10 years | −47.8% | 371 of 2,187 (top 17%) |

### What has beaten BKNG on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 223 stocks and 145 ETFs worth at least $500 million sit in the green region: each earned more than BKNG over the past 5 years with smaller price swings. That is 10% of the 3,633 screened.
- Among those with at least half BKNG's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 26% less than BKNG's 33.2%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.51 for BKNG.
- Among BKNG's popular alternatives, HLT and MAR are in the region. HLT earned 21.0% a year against 12.0% a year for BKNG, at 26.8% volatility, 19% less than BKNG's 33.2%.

### Is there a better investment than BKNG?

The table below lists investments that beat BKNG over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among BKNG's popular alternatives, MAR and HLT earned more than BKNG with less volatility over the past 5 years. MAR returned 22.0% a year at 28.6% volatility, against 12.0% a year at 33.2%.
- Looking beyond its popular alternatives, IHG (hotels & resorts) earned more than BKNG with less volatility over the past 5 years: 21.4% a year at 26.6% volatility, against 12.0% a year at 33.2%.
- Across the whole market, 368 of the 3,633 stocks and funds worth at least $500 million earned more than BKNG with less volatility over the past 5 years, among them AAPL, BRK-B and BRK-A.

The 15 strongest of 368 investments that beat BKNG over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with BKNG | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| BKNG: Booking Holdings Inc. (this page) |  | +12.0% | 33.2% | 0.51 | −47.8% | +186% |  |  |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.59 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.44 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CSCO](https://easycompare.io/research/csco): Cisco Systems, Inc. | Communications Equipment | +16.8% | 26.1% | 0.73 | −42.0% | +374% | 0.31 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [NVS](https://easycompare.io/research/nvs): Novartis AG | Pharmaceuticals | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | Biotechnology | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.20 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | Gold | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.00 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [TT](https://easycompare.io/research/tt): Trane Technologies plc | Building Products | +22.7% | 27.7% | 0.88 | −40.5% | +955% | 0.41 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [RSG](https://easycompare.io/research/rsg): Republic Services, Inc. | Environmental Services | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [ORLY](https://easycompare.io/research/orly): O'Reilly Automotive, Inc. | Specialty Retail | +15.9% | 23.4% | 0.75 | −42.0% | +393% | 0.17 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [FAST](https://easycompare.io/research/fast): Fastenal Company | Industrial Distribution | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.36 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| IRM: Iron Mountain Incorporated | Specialty REITs | +24.6% | 30.3% | 0.88 | −39.0% | +470% | 0.32 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| CASY: Casey's General Stores, Inc. | Convenience Stores | +29.9% | 29.3% | 1.04 | −36.1% | +537% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | Computer Hardware | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| ATO: Atmos Energy Corporation | Gas Utilities | +14.9% | 18.4% | 0.85 | −32.9% | +194% | 0.37 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |

## BKNG against its popular alternatives

The investments people most often weigh against BKNG, compared period by period and year by year.

### How do BKNG's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Four of the 17 popular alternatives, led by MAR, HLT and GOOG, were both more rewarding and calmer than BKNG over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, BKNG returned 12.0% a year, less than the S&P 500's 12.7%, with higher volatility (33.2% against 17.1%).

### Has BKNG consistently beaten its popular alternatives?

This section compares BKNG with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Eight of the 17 popular alternatives, led by HLT, MAR and V, outperformed BKNG in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- HLT, MAR and V outperformed BKNG in every long-term period and in all but one short-term period, the most consistent record in the group.
- GOOG and V earned more for the risk they took than BKNG (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of BKNG | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| BKNG: Booking Holdings Inc. (this page) | −19.6% | +52.2% | +75.9% | +186% |  |  | 0.51 |
| [HLT](https://easycompare.io/research/hlt): Hilton Worldwide Holdings Inc. | +37.9% | +145% | +160% | +694% | 5/5 short-term, 3/3 long-term | all-weather | 0.85 |
| [MAR](https://easycompare.io/research/mar): Marriott International, Inc. | +54.1% | +117% | +170% | +544% | 5/5 short-term, 3/3 long-term | all-weather | 0.84 |
| [V](https://easycompare.io/research/v): Visa Inc. | +19.0% | +78.2% | +82.5% | +429% | 5/5 short-term, 3/3 long-term | all-weather | 0.64 |
| [RCL](https://easycompare.io/research/rcl): Royal Caribbean Cruises Ltd. | −3.1% | +272% | +255% | +359% | 5/5 short-term, 3/3 long-term | all-weather | 0.77 |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | +31.2% | +148% | +138% | +752% | 4/5 short-term, 3/3 long-term | all-weather | 0.71 |
| TNL: Travel + Leisure Co. | +15.4% | +125% | +55.8% | +214% | 5/5 short-term, 2/3 long-term | consistent | 0.43 |
| EXPE: Expedia Group, Inc. | +38.8% | +226% | +86.3% | +154% | 5/5 short-term, 2/3 long-term | consistent | 0.50 |
| [DAL](https://easycompare.io/research/dal): Delta Air Lines, Inc. | +25.5% | +146% | +97.6% | +109% | 3/5 short-term, 2/3 long-term | consistent | 0.54 |
| CCL: Carnival Corporation & plc | −4.7% | +149% | +22.6% | −34.6% | 5/5 short-term, 1/3 long-term |  | 0.35 |
| CHH: Choice Hotels International, Inc. | +15.9% | +3.4% | −11.0% | +176% | 5/5 short-term, 0/3 long-term |  | 0.07 |
| VAC: Marriott Vacations Worldwide Corporation | +74.5% | +39.2% | −14.2% | +115% | 5/5 short-term, 0/3 long-term |  | 0.16 |
| [ABNB](https://easycompare.io/research/abnb): Airbnb, Inc. | +39.1% | +51.9% | +4.2% | — | 5/5 short-term, 0/3 long-term |  | 0.24 |
| WH: Wyndham Hotels & Resorts, Inc. | +0.3% | +11.5% | +4.9% | — | 5/5 short-term, 0/3 long-term |  | 0.18 |
| HGV: Hilton Grand Vacations Inc. | −15.4% | −1.8% | −23.9% | — | 3/5 short-term, 0/3 long-term |  | 0.05 |
| MMYT: MakeMyTrip Limited | −49.4% | +18.4% | +53.5% | +65.1% | 1/5 short-term, 0/3 long-term |  | 0.42 |
| TCOM: Trip.com Group Limited | −43.5% | +26.1% | +29.8% | −14.3% | 1/5 short-term, 0/3 long-term |  | 0.35 |
| TRIP: Tripadvisor, Inc. | −42.6% | −36.3% | −72.8% | −82.8% | 1/5 short-term, 0/3 long-term |  | -0.23 |

### How did BKNG do year by year?

This table shows each investment's total return in every full calendar year since 2000, along with where BKNG ranked among its popular alternatives each year.

- Ranked against its popular alternatives each year, BKNG finished in the top quarter in 11 of 26 years and in the bottom quarter in three. In 2025, it ranked 11 of 18.
- BKNG finished ahead of the S&P 500 in 16 of its 26 full calendar years.
- Among its popular alternatives, V came out ahead of BKNG most often, in ten of the 17 years both traded.

| Year | BKNG | SPY |
| --- | --- | --- |
| 2025 | +8.6% | +17.7% |
| 2024 | +41.3% | +24.9% |
| 2023 | +76.0% | +26.2% |
| 2022 | −16.0% | −18.2% |
| 2021 | +7.7% | +28.7% |
| 2020 | +8.5% | +18.3% |
| 2019 | +19.2% | +31.2% |
| 2018 | −0.9% | −4.6% |
| 2017 | +18.5% | +21.7% |
| 2016 | +15.0% | +12.0% |

## Risk and diversification

How BKNG has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were BKNG's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all five of BKNG's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: BKNG fell 34.5% in April 1999, while the S&P 500 slipped only 2.8%.
- The slowest recovery came after BKNG fell 99.3% from April 1999 to October 2002; it did not regain that peak until September 2013, 11 years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −99.3% | April 30, 1999 | October 9, 2002 | September 10, 2013 | −38.9% | dot-com bust |
| −47.8% | March 12, 2018 | March 23, 2020 | December 31, 2020 | −16.4% | late-2018 sell-off |
| −39.5% | February 16, 2022 | October 11, 2022 | May 2, 2023 | −19.0% | 2022 bear market |
| −34.5% | April 14, 1999 | April 19, 1999 | April 26, 1999 | −2.8% |  |
| −33.7% | November 4, 2015 | February 8, 2016 | September 29, 2016 | −11.3% | 2015 China and oil sell-off |

### How did BKNG do in stock market crashes?

This section measures how far BKNG, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- BKNG fell further than the S&P 500 in seven of the ten crashes it has traded through. The clearest case was the dot-com bust, when BKNG fell 98.9% and the S&P 500 fell 47.5%.
- Among its popular alternatives, V held up best, falling less than BKNG in six of the eight crashes they both traded through.

| Crash | Dates | BKNG fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −98.9% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −66.3% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −3.2% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −17.8% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −33.7% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.3% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −19.1% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −41.5% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −39.5% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −5.6% | −3.4% |

### How closely does BKNG move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- V took just 79% of the S&P 500's losses, against 123% for BKNG, while still keeping 93% of its gains.
- Over the past 10 years, BKNG captured 99% of the S&P 500's gains in rising months and 123% of its losses in falling months, with a beta of 1.17. Its share of the market's losses was larger than its share of the gains.
- Four of the 14 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than BKNG's 0.81, led by GOOG, V and HLT.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| BKNG: Booking Holdings Inc. (this page) | 99.0% | 123% | 1.17 |
| [HLT](https://easycompare.io/research/hlt): Hilton Worldwide Holdings Inc. | 121% | 105% | 1.18 |
| [MAR](https://easycompare.io/research/mar): Marriott International, Inc. | 132% | 137% | 1.46 |
| [V](https://easycompare.io/research/v): Visa Inc. | 93.0% | 79.0% | 0.87 |
| [RCL](https://easycompare.io/research/rcl): Royal Caribbean Cruises Ltd. | 171% | 231% | 2.24 |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | 132% | 110% | 1.12 |
| TNL: Travel + Leisure Co. | 124% | 167% | 1.54 |
| EXPE: Expedia Group, Inc. | 104% | 144% | 1.48 |
| [DAL](https://easycompare.io/research/dal): Delta Air Lines, Inc. | 107% | 149% | 1.34 |
| CCL: Carnival Corporation & plc | 135% | 289% | 2.30 |
| CHH: Choice Hotels International, Inc. | 85.0% | 105% | 1.06 |
| VAC: Marriott Vacations Worldwide Corporation | 121% | 195% | 1.88 |
| MMYT: MakeMyTrip Limited | 74.0% | 100% | 1.12 |
| TCOM: Trip.com Group Limited | 42.0% | 96.0% | 0.58 |
| TRIP: Tripadvisor, Inc. | 19.0% | 165% | 1.10 |

### What diversifies BKNG?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in BKNG into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+11.9% for BKNG alone, +14.3% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of BKNG over the past 5 years, with correlations of 0.47 or lower, and each still earned a positive 5-year return.
- MCK made money in four of the seven calendar years in which BKNG lost money.

| Investment | Correlation with BKNG | 5Y return | Volatility | Sharpe | Rose in BKNG's 7 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.46 | +119% | 11.1% | 1.48 | 1 of 7 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.23 | +225% | 19.1% | 1.34 | 2 of 7 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.47 | +101% | 14.5% | 1.04 | 2 of 7 |
| HDV: iShares Core High Dividend ETF | 0.49 | +83.3% | 13.0% | 1.00 | 2 of 7 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.29 | +323% | 36.9% | 0.97 | 2 of 7 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.00 | +126% | 18.9% | 0.96 | 2 of 7 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.42 | +136% | 20.8% | 0.93 | 0 of 7 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.31 | +177% | 25.5% | 0.93 | 3 of 7 |

## Common questions

### What was BKNG's worst drawdown?

BKNG's deepest decline since it began trading in 1999 was 99.3%, from April 1999 to October 2002. It took about 11 years from the low to climb back to its old high.

### What were BKNG's best and worst years?

Over 26 full calendar years, BKNG's best year was 2001, when it returned 345%. Its worst was 2000, with a return of -97.2%.

### Is there a better investment than BKNG?

Among BKNG's popular alternatives, MAR and HLT earned more than BKNG with less volatility over the past 5 years. MAR returned 22.0% a year at 28.6% volatility, against 12.0% a year at 33.2%. Looking beyond its popular alternatives, IHG (hotels & resorts) earned more than BKNG with less volatility over the past 5 years: 21.4% a year at 26.6% volatility, against 12.0% a year at 33.2%.

### Is BKNG more volatile than the S&P 500?

Yes. BKNG's volatility over the past 5 years was 33.2%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BKNG's return lands within 33.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is BKNG's Sharpe ratio?

BKNG's Sharpe ratio over the past 5 years was 0.51, against 0.79 for the S&P 500, so BKNG earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is BKNG with the S&P 500?

Over the past 5 years, BKNG's monthly returns had a correlation of 0.58 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against BKNG instead: the lower it is, the more that option would diversify a BKNG holding.

### What are the best alternatives to BKNG?

Of the 17 popular alternatives we compared, eight outperformed BKNG in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: HLT, MAR and V.

### Did BKNG outperform the S&P 500?

BKNG finished ahead of the S&P 500 (SPY) in 16 of 26 full calendar years. In 2025, it returned +8.6%, against +17.7% for the index.

### How did BKNG do in stock market crashes?

BKNG fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in seven. The clearest case was the dot-com bust, when BKNG fell 98.9% and the S&P 500 fell 47.5%.

### What diversifies BKNG?

These had a low correlation with BKNG over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.46), DXJ (correlation 0.23) and EMLP (correlation 0.47); among large stocks, CAH (correlation 0.21), CLS (correlation 0.26) and FIX (correlation 0.13). A correlation near zero means the two have moved largely independently.

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## Explore further

- Full page with charts: https://easycompare.io/research/bkng
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against BKNG live: https://betterthanspy.com/?b=BKNG&utm_source=easycompare&utm_medium=research