BSTZ vs HPE: Correlation
Measured on weekly returns over the past three years, BlackRock Science and Technology Term Trust (BSTZ) and Hewlett Packard Enterprise (HPE) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSTZ and HPE?
Across a 3-year window, the weekly returns of BSTZ and HPE correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 522.4 %².
Among the 21 assets we track against BSTZ, HPE ranks #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HPE outperformed by 87.0 percentage points (+57.4% for BSTZ against +144.4% for HPE). Risk is not evenly split, since HPE carries 1.8 times the volatility of the other side.
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.
BSTZ vs HPE: side by side
| BSTZ (BlackRock Science and Technology Term Trust) | HPE (Hewlett Packard Enterprise) | |
|---|---|---|
| 1-year return | +57.4% | +144.4% |
| 5-year return | +31.6% | +309.3% |
| Volatility (ann.) | 23.7% | 43.8% |
| Beta vs S&P 500 | 1.19 | 1.47 |
| Max drawdown (3Y) | -25.3% | -48.4% |
| Market cap | $2.1B | $72.0B |
| P/E (trailing) | 6.7 | 51.3 |
| Dividend yield | 0.00% | 0.99% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | BSTZ | HPE |
|---|---|---|
| 2022 | -55.3% | +4.5% |
| 2023 | +18.7% | +9.7% |
| 2024 | +37.5% | +29.1% |
| 2025 | +25.1% | +15.5% |
| 2026 | +44.7% | +128.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSTZ and HPE good diversifiers for each other?
Only partially. A correlation of 0.50 means BSTZ and HPE 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 BSTZ and HPE?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.46 over the last year and 0.45 over 5 years.
Is HPE a good diversifier for BSTZ?
Only partially. A correlation of 0.50 means BSTZ and HPE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BSTZ correlations · HPE correlations
