This paper deals with a pressure evolution of newly observed phenomenon -parimagnetism in HoCo₂. HoCo₂ containing localized Ho magnetic moments and itinerant Co magnetic moments order ferrimagnetically below T_C = 79.5 K at ambient pressure. The corresponding Ho and Co magnetic sublattices are ferromagnetic and coupled mutually antiparallel. In paramagnetic range, the Co moments form ferromagnetic clusters which hold short range antiparallel configuration with the nearest Ho moments at temperatures up to the flipping temperature T_f = 125 K. The decay of Co clusters was observed by muon spin relaxation spectroscopy (μSR) at T* ∼ 170 K. Our results of AC-magnetic susceptibility and zero-field μSR measurements of HoCo₂ at ambient and hydrostatic pressures presented in this paper reveal strong pressure dependence of the characteristic temperatures which is closely related to the itinerant character of Co magnetism and variations of exchange interactions.