HPE vs NBXG: Correlation
Measured on weekly returns over the past three years, Hewlett Packard Enterprise (HPE) and Neuberger Next Generation Connectivity Fund Inc. (NBXG) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPE and NBXG?
Over the past 3 years, HPE and NBXG moved with a correlation of 0.51, which is moderate. The link has loosened recently: the 1-year correlation (0.33) runs below the 3-year figure (0.51). Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 500.2 %².
Among the 28 assets we track against HPE, NBXG ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HPE outperformed by 130.6 percentage points (+144.4% for HPE against +13.8% for NBXG). One caveat on sizing: HPE is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 NBXG: side by side
| HPE (Hewlett Packard Enterprise) | NBXG (Neuberger Next Generation Connectivity Fund Inc.) | |
|---|---|---|
| 1-year return | +144.4% | +13.8% |
| 5-year return | +309.3% | +25.6% |
| Volatility (ann.) | 43.8% | 22.4% |
| Beta vs S&P 500 | 1.47 | 1.28 |
| Max drawdown (3Y) | -48.4% | -22.1% |
| Market cap | $72.0B | $1.2B |
| P/E (trailing) | 51.3 | 3.4 |
| Dividend yield | 0.99% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | HPE | NBXG |
|---|---|---|
| 2022 | +4.5% | -41.4% |
| 2023 | +9.7% | +34.9% |
| 2024 | +29.1% | +28.5% |
| 2025 | +15.5% | +24.2% |
| 2026 | +128.6% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPE and NBXG good diversifiers for each other?
Only partially. A correlation of 0.51 means HPE and NBXG 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 NBXG?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.33 over the last year and 0.47 over 5 years.
Is NBXG a good diversifier for HPE?
Only partially. A correlation of 0.51 means HPE and NBXG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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/hpe-vs-nbxg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hpe-vs-nbxg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HPE correlations · NBXG correlations
