HPE vs HPQ: Correlation
Hewlett Packard Enterprise (HPE) and HP Inc. (HPQ) 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 HPE and HPQ?
On 3 years of weekly data the HPE/HPQ correlation comes out at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 795.1 %².
In HPE's tracked universe of 28 assets, HPQ sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months HPE outperformed by 129.5 percentage points (+144.4% for HPE against +14.9% for HPQ). The rolling one-year correlation moved between 0.24 and 0.66 over the past three years, a moderate range.
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.
HPE vs HPQ: side by side
| HPE (Hewlett Packard Enterprise) | HPQ (HP Inc.) | |
|---|---|---|
| 1-year return | +144.4% | +14.9% |
| 5-year return | +309.3% | +19.9% |
| Volatility (ann.) | 43.8% | 34.2% |
| Beta vs S&P 500 | 1.47 | 1.15 |
| Max drawdown (3Y) | -48.4% | -51.2% |
| Market cap | $72.0B | $26.7B |
| P/E (trailing) | 51.3 | 11.3 |
| Dividend yield | 0.99% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | HPE | HPQ |
|---|---|---|
| 2022 | +4.5% | -26.4% |
| 2023 | +9.7% | +16.1% |
| 2024 | +29.1% | +12.1% |
| 2025 | +15.5% | -28.7% |
| 2026 | +128.6% | +36.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPE and HPQ good diversifiers for each other?
Only partially. A correlation of 0.53 means HPE and HPQ 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 HPE and HPQ?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.53 over the last year and 0.57 over 5 years.
Is HPQ a good diversifier for HPE?
Only partially. A correlation of 0.53 means HPE and HPQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 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/hpe-vs-hpq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hpe-vs-hpq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HPE correlations · HPQ correlations
