C vs HPE: Correlation
Measured on weekly returns over the past three years, Citigroup (C) and Hewlett Packard Enterprise (HPE) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are C and HPE?
Across a 3-year window, the weekly returns of C and HPE correlate at 0.52, moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.52). Stretching to 5 years gives 0.50, with an annualized covariance of 688.6 %².
Within C's tracked universe of 33 assets, HPE comes in at #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HPE outperformed by 104.5 percentage points (+39.9% for C against +144.4% for HPE). The relationship is regime-dependent: the rolling one-year correlation swung between 0.22 and 0.78 over the past three years, so this pair behaves very differently depending on the market environment.
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.
C vs HPE: side by side
| C (Citigroup) | HPE (Hewlett Packard Enterprise) | |
|---|---|---|
| 1-year return | +39.9% | +144.4% |
| 5-year return | +119.6% | +309.3% |
| Volatility (ann.) | 30.3% | 43.8% |
| Beta vs S&P 500 | 1.39 | 1.47 |
| Max drawdown (3Y) | -31.3% | -48.4% |
| Market cap | $222.6B | $72.0B |
| P/E (trailing) | 14.4 | 51.3 |
| Dividend yield | 1.80% | 0.99% |
| Sector / category | Financials | Information Technology |
Year-by-year returns
| Year | C | HPE |
|---|---|---|
| 2022 | -22.1% | +4.5% |
| 2023 | +19.0% | +9.7% |
| 2024 | +41.9% | +29.1% |
| 2025 | +70.4% | +15.5% |
| 2026 | +15.4% | +128.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are C and HPE good diversifiers for each other?
Only partially. A correlation of 0.52 means C 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 C and HPE?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.31 over the last year and 0.50 over 5 years.
Is HPE a good diversifier for C?
Only partially. A correlation of 0.52 means C 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 0.52 mean?
On the −1 to +1 scale, 0.52 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: C correlations · HPE correlations
