HPQ vs VYM: Correlation
Measured on weekly returns over the past three years, HP Inc. (HPQ) and Vanguard High Dividend Yield ETF (VYM) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPQ and VYM?
Over the past 3 years, HPQ and VYM moved with a correlation of 0.49, which is moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.49). Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 206.7 %².
Within HPQ's tracked universe of 28 assets, VYM comes in at #16 by 3-year correlation. On 12-month performance VYM holds a 6.2-point edge, +14.9% against +21.1%. The rolling one-year correlation moved between 0.27 and 0.66 over the past three years, a moderate range. Note the risk asymmetry: HPQ runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VYM: side by side
| HPQ (HP Inc.) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +14.9% | +21.1% |
| 5-year return | +19.9% | +76.6% |
| Volatility (ann.) | 34.2% | 12.3% |
| Beta vs S&P 500 | 1.15 | 0.69 |
| Max drawdown (3Y) | -51.2% | -14.5% |
| Market cap | $26.7B | – |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 0.00% | 2.24% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $99.2B |
| Sector / category | Information Technology | ETF · Dividend |
VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Year-by-year returns
| Year | HPQ | VYM |
|---|---|---|
| 2022 | -26.4% | -0.4% |
| 2023 | +16.1% | +6.6% |
| 2024 | +12.1% | +17.6% |
| 2025 | -28.7% | +15.4% |
| 2026 | +36.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.1% of VYM is HPQ itself, so the fund partly moves with the stock by construction.
Are HPQ and VYM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HPQ and VYM?
As of 2026-08-27, the correlation of weekly returns between HPQ and VYM is 0.49 over 3 years, 0.28 over 1 year and 0.55 over 5 years.
Is VYM a good diversifier for HPQ?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HPQ correlations · VYM correlations
