Benchmark Electronics Correlations

BHE Stock

USD 57.84 0.03 0.05%

The current 90-days correlation between Benchmark Electronics and Jayud Global Logistics is -0.23 (i.e., Very good 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 0.68 (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

0.9	Q	Qnity Electronics	Pair Corr
0.97	KN	Knowles Cor	Pair Corr
0.96	LFS	Littelfuse	Pair Corr
0.93	PX4	Plexus Corp	Pair Corr
0.69	AN1	Anritsu	Pair Corr
0.94	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.74	PRHA	Prosegur Compaa de	Pair Corr
0.69	SATLW	Satellogic Warrant	Pair Corr
0.92	MKT	MKS Instruments	Pair Corr
0.96	VNI	Avnet Inc	Pair Corr
0.92	BRV	Brady	Pair Corr
0.83	H7B	COHERENT CORP	Pair Corr
0.78	BAERW	Bridger Aerospace	Pair Corr
0.74	MLI	MESA LABS INC	Pair Corr

Moving against Benchmark Stock

0.87	EBON	Ebang International	Pair Corr
0.58	KE	Kimball Electronics	Pair Corr
0.46	AMPGW	AmpliTech Group	Pair Corr
0.45	OBD	Obducat AB	Pair Corr
0.86	EVLV	Evolv Technologies	Pair Corr
0.69	OTK	Otsuka	Pair Corr
0.65	EHGO	Eshallgo Class A	Pair Corr
0.65	SC3	ScanSource	Pair Corr
0.63	WRAP	Wrap Technologies	Pair Corr
0.63	GEG	GEO Group	Pair Corr
0.55	FCUV	Focus Universal	Pair Corr

Related Correlations Analysis

	ELPW	USEA	AQMS	PSIG	CCTG	CAPT	OFAL	JYD
ELPW		-0.36	0.4	-0.39	0.45	0.26	0.34	0.33	ELPW
USEA	-0.36		-0.53	0.43	-0.51	-0.52	-0.41	-0.41	USEA
AQMS	0.4	-0.53		-0.64	0.77	0.59	0.78	0.47	AQMS
PSIG	-0.39	0.43	-0.64		-0.76	-0.22	-0.48	-0.72	PSIG
CCTG	0.45	-0.51	0.77	-0.76		0.31	0.81	0.7	CCTG
CAPT	0.26	-0.52	0.59	-0.22	0.31		0.44	-0.05	CAPT
OFAL	0.34	-0.41	0.78	-0.48	0.81	0.44		0.47	OFAL
JYD	0.33	-0.41	0.47	-0.72	0.7	-0.05	0.47		JYD
	ELPW	USEA	AQMS	PSIG	CCTG	CAPT	OFAL	JYD

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

OFAL	+ 0.81	CCTG
OFAL	+ 0.78	AQMS
CCTG	+ 0.77	AQMS
JYD	+ 0.7	CCTG
CAPT	+ 0.59	AQMS
JYD	+ 0.47	AQMS

High negative correlations

CCTG	- 0.76	PSIG
JYD	- 0.72	PSIG
PSIG	- 0.64	AQMS
AQMS	- 0.53	USEA
CAPT	- 0.52	USEA
CCTG	- 0.51	USEA

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
ELPW	94.57	43.91	1.78	(1.13)	17.68	(151.51)	11.61	(31.67)	3,232
USEA	2.72	0.45	0.11	0.45	3.60	(3.04)	5.94	(5.11)	20.78
AQMS	3.86	(0.57)	0.00	(0.21)	0.00	0.00	7.32	(8.88)	20.09
PSIG	3.19	0.76	0.17	(2.04)	2.84	(4.07)	11.11	(4.92)	44.89
CCTG	5.88	(1.69)	0.00	2.43	0.00	0.00	10.42	(12.71)	51.76
CAPT	7.78	(0.47)	0.00	(0.17)	0.00	0.00	22.86	(16.33)	66.00
OFAL	5.26	(0.26)	0.00	(0.48)	0.00	0.00	10.61	(11.11)	31.50
JYD	4.01	(0.23)	0.00	0.27	0.00	0.00	8.61	(8.57)	25.36

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