IBM vs. HPQ
IBM (International Business Machines Corporation) and HPQ (HP Inc.) are both stocks. Both are in the Technology sector — IBM in Information Technology Services, HPQ in Computer Hardware. Over the past 10 years, IBM returned 10.97%/yr vs 10.02%/yr for HPQ. At a 0.46 correlation, their price movements are largely independent.
Performance
IBM vs. HPQ - Performance Comparison
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Returns By Period
In the year-to-date period, IBM achieves a -7.38% return, which is significantly lower than HPQ's 12.14% return. Over the past 10 years, IBM has outperformed HPQ with an annualized return of 10.97%, while HPQ has yielded a comparatively lower 10.02% annualized return.
IBM
- 1D
- 0.78%
- 1M
- 23.49%
- YTD
- -7.38%
- 6M
- -9.51%
- 1Y
- -1.45%
- 3Y*
- 29.46%
- 5Y*
- 18.79%
- 10Y*
- 10.97%
HPQ
- 1D
- -1.26%
- 1M
- 18.14%
- YTD
- 12.14%
- 6M
- 0.62%
- 1Y
- 4.15%
- 3Y*
- -3.96%
- 5Y*
- 0.41%
- 10Y*
- 10.02%
IBM vs. HPQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBM International Business Machines Corporation | -7.38% | 38.23% | 39.27% | 21.85% | 10.64% | 16.65% | -1.16% | 23.58% | -22.56% | -3.99% |
HPQ HP Inc. | 12.14% | -28.69% | 12.10% | 16.08% | -26.40% | 57.25% | 24.11% | 3.88% | -0.20% | 45.69% |
Correlation
The correlation between IBM and HPQ is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1962 | 0.46 |
The correlation between IBM and HPQ shifts across timeframes, from 0.28 (1 year) to 0.47 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
IBM:
$257.84B
HPQ:
$22.47B
IBM:
$11.32
HPQ:
$2.72
IBM:
23.92
HPQ:
8.94
IBM:
3.73
HPQ:
0.40
IBM:
7.82
HPQ:
5.80
IBM:
$68.91B
HPQ:
$57.42B
IBM:
$40.64B
HPQ:
$11.61B
IBM:
$15.71B
HPQ:
$3.83B
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Return for Risk
IBM vs. HPQ — Risk / Return Rank
IBM
HPQ
IBM vs. HPQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for International Business Machines Corporation (IBM) and HP Inc. (HPQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IBM | HPQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.06 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.11 | -0.16 |
| Martin ratioReturn relative to average drawdown | -0.10 | 0.20 | -0.30 |
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Drawdowns
IBM vs. HPQ - Drawdown Comparison
The maximum IBM drawdown since its inception was -69.40%, smaller than the maximum HPQ drawdown of -85.19%. Use the drawdown chart below to compare losses from any high point for IBM and HPQ.
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Drawdown Indicators
| IBM | HPQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.40% | -85.19% | +15.79% |
Max Drawdown (1Y)Largest decline over 1 year | -30.96% | -36.62% | +5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -30.96% | -51.23% | +20.27% |
Max Drawdown (5Y)Largest decline over 5 years | -30.96% | -51.23% | +20.27% |
Max Drawdown (10Y)Largest decline over 10 years | -40.59% | -51.23% | +10.64% |
Current DrawdownCurrent decline from peak | -17.74% | -33.05% | +15.31% |
Average DrawdownAverage peak-to-trough decline | -20.12% | -31.08% | +10.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.47% | 20.65% | -6.18% |
Volatility
IBM vs. HPQ - Volatility Comparison
International Business Machines Corporation (IBM) and HP Inc. (HPQ) have volatilities of 21.55% and 22.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBM | HPQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.55% | 22.06% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 34.64% | 32.02% | +2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.45% | 40.05% | -0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.18% | 35.81% | -8.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.60% | 35.29% | -8.69% |
Dividends
IBM vs. HPQ - Dividend Comparison
IBM's dividend yield for the trailing twelve months is around 2.49%, less than HPQ's 4.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HPQ HP Inc. | 4.90% | 5.24% | 3.42% | 3.53% | 3.77% | 2.21% | 2.94% | 3.20% | 2.83% | 2.56% | 3.40% | 129.70% |
IBM International Business Machines Corporation | 2.49% | 2.27% | 3.03% | 4.05% | 4.68% | 4.74% | 5.17% | 4.80% | 5.46% | 3.85% | 3.31% | 3.63% |
Financials
IBM vs. HPQ - Financials Comparison
This section allows you to compare key financial metrics between International Business Machines Corporation and HP Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
IBM vs. HPQ - Profitability Comparison
IBM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, International Business Machines Corporation reported a gross profit of 8.95B and revenue of 15.92B. Therefore, the gross margin over that period was 56.2%.
HPQ - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, HP Inc. reported a gross profit of 3.02B and revenue of 14.41B. Therefore, the gross margin over that period was 20.9%.
IBM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, International Business Machines Corporation reported an operating income of 1.22B and revenue of 15.92B, resulting in an operating margin of 7.6%.
HPQ - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, HP Inc. reported an operating income of 612.00M and revenue of 14.41B, resulting in an operating margin of 4.3%.
IBM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, International Business Machines Corporation reported a net income of 1.22B and revenue of 15.92B, resulting in a net margin of 7.6%.
HPQ - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, HP Inc. reported a net income of 450.00M and revenue of 14.41B, resulting in a net margin of 3.1%.
Frequently Asked Questions
IBM and HPQ have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HPQ has higher volatility (22.06%) compared to IBM (21.55%). In terms of maximum drawdown, IBM dropped -69.40% vs HPQ's -85.19%.
HPQ currently has the higher Sharpe Ratio (0.10 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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