Benchmark Electronics Correlations

BHE Stock

USD 58.30 2.29 4.09%

The current 90-days correlation between Benchmark Electronics and Rogers is 0.6 (i.e., Poor diversification). The correlation of Benchmark Electronics is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Benchmark Electronics Correlation With Market

Poor diversification

The correlation between Benchmark Electronics and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Benchmark Electronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Benchmark Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Benchmark Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For information on how to trade Benchmark Stock refer to our How to Trade Benchmark Stock guide.

Moving together with Benchmark Stock

0.91	ARW	Arrow Electronics Tech Boost	Pair Corr
0.91	GLW	Corning Incorporated Tech Boost	Pair Corr
0.8	WNC	Wabash National	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.88	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.94	CAT	Caterpillar	Pair Corr
0.84	CVX	Chevron Corp	Pair Corr
0.81	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.62	MCD	McDonalds Earnings Call This Week	Pair Corr
0.82	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.64	BA	Boeing	Pair Corr
0.68	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against Benchmark Stock

0.67	TRNR	Interactive Strength	Pair Corr
0.63	REFR	Research Frontiers	Pair Corr
0.58	HOLO	MicroCloud Hologram	Pair Corr
0.57	APVO	Aptevo Therapeutics	Pair Corr
0.37	BRK-A	Berkshire Hathaway	Pair Corr
0.34	WBX	Wallbox NV	Pair Corr
0.86	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	ROG	PRCH	CTS	BELFB	ADEA	OUST	HIMX	NYAX	CNXN
ROG		-0.54	0.84	0.94	0.83	0.07	0.4	0.83	0.41	ROG
PRCH	-0.54		-0.62	-0.57	-0.44	0.54	0.31	-0.57	-0.16	PRCH
CTS	0.84	-0.62		0.93	0.71	-0.12	0.16	0.83	0.42	CTS
BELFB	0.94	-0.57	0.93		0.84	0.06	0.34	0.87	0.33	BELFB
ADEA	0.83	-0.44	0.71	0.84		0.22	0.28	0.88	0.04	ADEA
OUST	0.07	0.54	-0.12	0.06	0.22		0.66	0.14	-0.24	OUST
HIMX	0.4	0.31	0.16	0.34	0.28	0.66		0.25	0.13	HIMX
NYAX	0.83	-0.57	0.83	0.87	0.88	0.14	0.25		0.04	NYAX
CNXN	0.41	-0.16	0.42	0.33	0.04	-0.24	0.13	0.04		CNXN
	ROG	PRCH	CTS	BELFB	ADEA	OUST	HIMX	NYAX	CNXN

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BELFB	+ 0.94	ROG
BELFB	+ 0.93	CTS
NYAX	+ 0.88	ADEA
NYAX	+ 0.87	BELFB
CTS	+ 0.84	ROG
ADEA	+ 0.84	BELFB

High negative correlations

CTS	- 0.62	PRCH
NYAX	- 0.57	PRCH
BELFB	- 0.57	PRCH
PRCH	- 0.54	ROG
ADEA	- 0.44	PRCH
CNXN	- 0.24	OUST

Risk-Adjusted Indicators

There is a big difference between Benchmark Stock performing well and Benchmark Electronics Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Benchmark Electronics' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ROG	1.64	0.28	0.17	0.29	1.57	(1.89)	3.75	(2.69)	9.39
PRCH	3.18	(1.22)	0.00	(0.30)	0.00	0.00	4.27	(6.71)	42.64
CTS	1.47	0.34	0.18	0.31	1.53	(1.54)	3.37	(2.62)	8.33
BELFB	2.24	0.41	0.14	0.35	2.76	(2.31)	4.91	(4.41)	12.33
ADEA	2.52	0.28	0.12	0.21	2.68	(2.88)	4.89	(3.51)	36.55
OUST	4.05	(0.91)	0.00	(0.17)	0.00	0.00	7.99	(8.94)	20.17
HIMX	2.31	(0.32)	0.00	(0.14)	0.00	0.00	4.22	(4.72)	16.54
NYAX	2.04	0.32	0.12	0.59	2.21	(2.30)	3.93	(3.85)	13.73
CNXN	1.27	0.13	0.08	0.22	1.36	(1.44)	3.29	(2.11)	7.87

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