HPQ vs SBET: Correlation
HP Inc. (HPQ) and Sharplink, Inc. (SBET) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPQ and SBET?
Across a 3-year window, the weekly returns of HPQ and SBET correlate at -0.17, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.11) runs above the 3-year figure (-0.17). Stretching to 5 years gives -0.12, with an annualized covariance of -3598.1 %².
Out of 28 assets tracked against HPQ, SBET lands near the bottom at #24. The last year tells two different stories: HPQ led by 68.8 percentage points, +14.9% for HPQ against -53.9% for SBET. One caveat on sizing: SBET is 18.0 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.
HPQ vs SBET: side by side
| HPQ (HP Inc.) | SBET (Sharplink, Inc.) | |
|---|---|---|
| 1-year return | +14.9% | -53.9% |
| 5-year return | +19.9% | -98.8% |
| Volatility (ann.) | 34.2% | 616.8% |
| Beta vs S&P 500 | 1.15 | 3.10 |
| Max drawdown (3Y) | -51.2% | -94.2% |
| Market cap | $26.7B | $1.9B |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | HPQ | SBET |
|---|---|---|
| 2022 | -26.4% | -88.3% |
| 2023 | +16.1% | -51.6% |
| 2024 | +12.1% | -57.3% |
| 2025 | -28.7% | +16.4% |
| 2026 | +36.8% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPQ and SBET good diversifiers for each other?
Yes. With a correlation of -0.17, HPQ and SBET have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HPQ and SBET?
The HPQ/SBET correlation stands at -0.17 on a 3-year window (1 year: 0.11, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is SBET a good diversifier for HPQ?
Yes. With a correlation of -0.17, HPQ and SBET have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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.
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Related comparisons
Hubs: HPQ correlations · SBET correlations
