This is How Vlookup works in Microsoft Excel:

This is How Hlookup works in Microsoft Excel:

This is How both (Vlookup & Hlookup) works when both fetching data from different worksheets:

This is How Vlookup works when fetching data from different Excel sheet:

This is How Hlookup works when fetching data from different Excel sheet:

This is How Pivot Table displays data in Graphical mode from different workbook: