DELL vs HPQ: Correlation
Dell Technologies (DELL) and HP Inc. (HPQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DELL and HPQ?
On 3 years of weekly data the DELL/HPQ correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 1057.1 %².
By 3-year correlation, HPQ places #15 of the 29 assets tracked against DELL. Their recent paths diverged sharply: over the last 12 months DELL outperformed by 246.1 percentage points (+261.0% for DELL against +14.9% for HPQ). This link changes with the market regime, having swung between -0.02 and 0.76 on a rolling one-year basis. Note the risk asymmetry: DELL runs 1.8 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.
DELL vs HPQ: side by side
| DELL (Dell Technologies) | HPQ (HP Inc.) | |
|---|---|---|
| 1-year return | +261.0% | +14.9% |
| 5-year return | +945.0% | +19.9% |
| Volatility (ann.) | 61.3% | 34.2% |
| Beta vs S&P 500 | 2.02 | 1.15 |
| Max drawdown (3Y) | -59.6% | -51.2% |
| Market cap | $305.1B | $26.7B |
| P/E (trailing) | 36.9 | 11.3 |
| Dividend yield | 0.48% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | DELL | HPQ |
|---|---|---|
| 2022 | -26.6% | -26.4% |
| 2023 | +95.9% | +16.1% |
| 2024 | +53.0% | +12.1% |
| 2025 | +11.2% | -28.7% |
| 2026 | +278.6% | +36.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DELL and HPQ good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DELL and HPQ?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.59 over the last year and 0.56 over 5 years.
Is HPQ a good diversifier for DELL?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dell-vs-hpq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dell-vs-hpq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DELL correlations · HPQ correlations
