The hippocampus appears to implement two core but highly distinct functions in the brain: long term memory retrieval and planning and spatial navigation. Naively, these functions appear very different algorithmically. In this short note, we demonstrate that two powerful algorithms that have each independently been proposed to underlie the hippocampal operation for each function -- personalized page-rank for memory retrieval, and successor representations for planning and navigation, are in fact isomorphic and utilize the same underlying representation -- the stationary distribution of a random walk on a graph. We hypothesize that the core computational function of the hippocampus is to compute this representation on arbitrary input graphs.