ALMS vs HPE: Correlation
Alumis Inc. (ALMS) and Hewlett Packard Enterprise (HPE) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and HPE?
Over the past 3 years, ALMS and HPE moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1668.5 %².
By 3-year correlation, HPE places #75 of the 92 assets tracked against ALMS. Correlation aside, the last 12 months split them widely, with ALMS ahead by 227.3 points (+371.7% versus +144.4%). Note the risk asymmetry: ALMS runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ALMS vs HPE: side by side
| ALMS (Alumis Inc.) | HPE (Hewlett Packard Enterprise) | |
|---|---|---|
| 1-year return | +371.7% | +144.4% |
| 5-year return | n/a | +309.3% |
| Volatility (ann.) | 130.0% | 43.8% |
| Beta vs S&P 500 | -1.50 | 1.47 |
| Max drawdown (3Y) | -78.9% | -48.4% |
| Market cap | $3.0B | $72.0B |
| P/E (trailing) | – | 51.3 |
| Dividend yield | 0.00% | 0.99% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | ALMS | HPE |
|---|---|---|
| 2022 | – | +4.5% |
| 2023 | – | +9.7% |
| 2024 | – | +29.1% |
| 2025 | +24.2% | +15.5% |
| 2026 | +137.8% | +128.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and HPE good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALMS and HPE?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.30 over the last year and n/a over 5 years.
Is HPE a good diversifier for ALMS?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ALMS correlations · HPE correlations
