CSCO vs HPE: Correlation
How closely do Cisco (CSCO) and Hewlett Packard Enterprise (HPE) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSCO and HPE?
Over the past 3 years, CSCO and HPE moved with a correlation of 0.43, which is moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.43 over 3. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 492.5 %².
By 3-year correlation, HPE places #15 of the 30 assets tracked against CSCO. The last year tells two different stories: HPE led by 77.1 percentage points, +67.3% for CSCO against +144.4% for HPE. On a rolling one-year basis the correlation drifted between 0.22 and 0.67, a moderate band. Note the risk asymmetry: HPE runs 1.7 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.
CSCO vs HPE: side by side
| CSCO (Cisco) | HPE (Hewlett Packard Enterprise) | |
|---|---|---|
| 1-year return | +67.3% | +144.4% |
| 5-year return | +118.1% | +309.3% |
| Volatility (ann.) | 26.4% | 43.8% |
| Beta vs S&P 500 | 0.84 | 1.47 |
| Max drawdown (3Y) | -20.2% | -48.4% |
| Market cap | $442.0B | $72.0B |
| P/E (trailing) | 33.8 | 51.3 |
| Dividend yield | 1.48% | 0.99% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | CSCO | HPE |
|---|---|---|
| 2022 | -22.5% | +4.5% |
| 2023 | +9.3% | +9.7% |
| 2024 | +21.0% | +29.1% |
| 2025 | +33.5% | +15.5% |
| 2026 | +47.7% | +128.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSCO and HPE good diversifiers for each other?
Reasonably. At 0.43, CSCO and HPE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CSCO and HPE?
As of 2026-08-27, the correlation of weekly returns between CSCO and HPE is 0.43 over 3 years, 0.36 over 1 year and 0.49 over 5 years.
Is HPE a good diversifier for CSCO?
Reasonably. At 0.43, CSCO and HPE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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: CSCO correlations · HPE correlations
