DELL vs HPE: Correlation
Dell Technologies (DELL) and Hewlett Packard Enterprise (HPE) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DELL and HPE?
Over the past 3 years, DELL and HPE moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.62 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 1418.4 %².
Within DELL's tracked universe of 29 assets, HPE comes in at #10 by 3-year correlation. The last year tells two different stories: DELL led by 116.6 percentage points, +261.0% for DELL against +144.4% for HPE. Across three years, the rolling one-year figure varied moderately, from 0.20 to 0.70.
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.
DELL vs HPE: side by side
| DELL (Dell Technologies) | HPE (Hewlett Packard Enterprise) | |
|---|---|---|
| 1-year return | +261.0% | +144.4% |
| 5-year return | +945.0% | +309.3% |
| Volatility (ann.) | 61.3% | 43.8% |
| Beta vs S&P 500 | 2.02 | 1.47 |
| Max drawdown (3Y) | -59.6% | -48.4% |
| Market cap | $305.1B | $72.0B |
| P/E (trailing) | 36.9 | 51.3 |
| Dividend yield | 0.48% | 0.99% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | DELL | HPE |
|---|---|---|
| 2022 | -26.6% | +4.5% |
| 2023 | +95.9% | +9.7% |
| 2024 | +53.0% | +29.1% |
| 2025 | +11.2% | +15.5% |
| 2026 | +278.6% | +128.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DELL and HPE good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DELL and HPE?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.62 over the last year and 0.57 over 5 years.
Is HPE a good diversifier for DELL?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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: DELL correlations · HPE correlations
