BBY vs HPQ: Correlation
Measured on weekly returns over the past three years, Best Buy (BBY) and HP Inc. (HPQ) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBY and HPQ?
Over the past 3 years, BBY and HPQ moved with a correlation of 0.55, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.45 versus 0.55 over 3 years. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 707.4 %².
HPQ is one of the assets that tracks BBY most closely: it ranks #1 out of the 33 assets we track against BBY. Twelve-month performance is nearly a tie, at +16.9% for BBY and +14.9% for HPQ. The rolling one-year correlation moved between 0.44 and 0.71 over the past three years, a moderate range.
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.
BBY vs HPQ: side by side
| BBY (Best Buy) | HPQ (HP Inc.) | |
|---|---|---|
| 1-year return | +16.9% | +14.9% |
| 5-year return | -11.2% | +19.9% |
| Volatility (ann.) | 37.6% | 34.2% |
| Beta vs S&P 500 | 0.97 | 1.15 |
| Max drawdown (3Y) | -44.3% | -51.2% |
| Market cap | – | $26.7B |
| P/E (trailing) | 16.2 | 11.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | Information Technology |
Year-by-year returns
| Year | BBY | HPQ |
|---|---|---|
| 2022 | -17.5% | -26.4% |
| 2023 | +2.5% | +16.1% |
| 2024 | +14.4% | +12.1% |
| 2025 | -17.8% | -28.7% |
| 2026 | +28.4% | +36.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBY and HPQ good diversifiers for each other?
Only partially. A correlation of 0.55 means BBY and HPQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BBY and HPQ?
As of 2026-08-27, the correlation of weekly returns between BBY and HPQ is 0.55 over 3 years, 0.45 over 1 year and 0.52 over 5 years.
Is HPQ a good diversifier for BBY?
Only partially. A correlation of 0.55 means BBY and HPQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bby-vs-hpq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bby-vs-hpq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BBY correlations · HPQ correlations
