HPQ vs QCOM: Correlation
Measured on weekly returns over the past three years, HP Inc. (HPQ) and Qualcomm (QCOM) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPQ and QCOM?
On 3 years of weekly data the HPQ/QCOM correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.52 over 3. The 5-year figure is 0.48, and annualized covariance runs at 749.5 %².
By 3-year correlation, QCOM places #5 of the 28 assets tracked against HPQ. On 12-month performance HPQ holds a 9.6-point edge, +14.9% against +5.3%. On a rolling one-year basis the correlation drifted between 0.26 and 0.64, a moderate band.
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.
HPQ vs QCOM: side by side
| HPQ (HP Inc.) | QCOM (Qualcomm) | |
|---|---|---|
| 1-year return | +14.9% | +5.3% |
| 5-year return | +19.9% | +25.8% |
| Volatility (ann.) | 34.2% | 42.4% |
| Beta vs S&P 500 | 1.15 | 1.77 |
| Max drawdown (3Y) | -51.2% | -44.2% |
| Market cap | $26.7B | $176.0B |
| P/E (trailing) | 11.3 | 18.9 |
| Dividend yield | 0.00% | 2.19% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | HPQ | QCOM |
|---|---|---|
| 2022 | -26.4% | -38.6% |
| 2023 | +16.1% | +35.1% |
| 2024 | +12.1% | +8.3% |
| 2025 | -28.7% | +13.8% |
| 2026 | +36.8% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPQ and QCOM good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HPQ and QCOM?
As of 2026-08-27, the correlation of weekly returns between HPQ and QCOM is 0.52 over 3 years, 0.55 over 1 year and 0.48 over 5 years.
Is QCOM a good diversifier for HPQ?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hpq-vs-qcom.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hpq-vs-qcom/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HPQ correlations · QCOM correlations
