HPE vs WTRG: Correlation
Hewlett Packard Enterprise (HPE) and Essential Utilities, Inc. (WTRG) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPE and WTRG?
On 3 years of weekly data the HPE/WTRG correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.32) than the 3-year average (-0.19). The 5-year figure is -0.01, and annualized covariance runs at -160.1 %².
Within HPE's tracked universe of 28 assets, WTRG comes in at #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HPE ahead by 138.8 points (+144.4% versus +5.6%). Risk is not evenly split, since HPE carries 2.2 times the volatility of the other side.
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 WTRG: side by side
| HPE (Hewlett Packard Enterprise) | WTRG (Essential Utilities, Inc.) | |
|---|---|---|
| 1-year return | +144.4% | +5.6% |
| 5-year return | +309.3% | -5.2% |
| Volatility (ann.) | 43.8% | 19.6% |
| Beta vs S&P 500 | 1.47 | -0.04 |
| Max drawdown (3Y) | -48.4% | -17.9% |
| Market cap | $72.0B | $11.5B |
| P/E (trailing) | 51.3 | 20.9 |
| Dividend yield | 0.99% | 3.36% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | HPE | WTRG |
|---|---|---|
| 2022 | +4.5% | -8.9% |
| 2023 | +9.7% | -19.4% |
| 2024 | +29.1% | +0.5% |
| 2025 | +15.5% | +9.4% |
| 2026 | +128.6% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPE and WTRG good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HPE and WTRG?
As of 2026-08-27, the correlation of weekly returns between HPE and WTRG is -0.19 over 3 years, -0.32 over 1 year and -0.01 over 5 years.
Is WTRG a good diversifier for HPE?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hpe-vs-wtrg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hpe-vs-wtrg/)
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Related comparisons
Hubs: HPE correlations · WTRG correlations
