BP vs HD: Correlation
Measured on weekly returns over the past three years, BP p.l.c. (BP) and Home Depot (The) (HD) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BP and HD?
Over the past 3 years, BP and HD moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.45 versus -0.18 over 3 years. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -110.5 %².
Within BP's tracked universe of 26 assets, HD comes in at #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BP ahead by 45.0 points (+27.6% versus -17.4%).
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.
BP vs HD: side by side
| BP (BP p.l.c.) | HD (Home Depot (The)) | |
|---|---|---|
| 1-year return | +27.6% | -17.4% |
| 5-year return | +119.9% | +13.8% |
| Volatility (ann.) | 26.6% | 23.6% |
| Beta vs S&P 500 | 0.06 | 0.87 |
| Max drawdown (3Y) | -30.6% | -28.8% |
| Market cap | $109.0B | $327.9B |
| P/E (trailing) | 20.3 | 23.4 |
| Dividend yield | 0.79% | 1.38% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | BP | HD |
|---|---|---|
| 2022 | +37.0% | -22.0% |
| 2023 | +6.0% | +12.8% |
| 2024 | -11.8% | +15.0% |
| 2025 | +24.5% | -9.3% |
| 2026 | +26.4% | -3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BP and HD good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BP and HD?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.45 over the last year and -0.05 over 5 years.
Is HD a good diversifier for BP?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bp-vs-hd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bp-vs-hd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BP correlations · HD correlations
