Benchmark Electronics Correlations

BHE Stock

USD 43.90 1.14 2.67%

The current 90-days correlation between Benchmark Electronics and Alta Equipment Group is 0.51 (i.e., Very weak 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

Very weak diversification

The correlation between Benchmark Electronics and DJI is 0.52 (i.e., Very weak 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

0.61	FLEX	Flex	Pair Corr
0.77	000829	Telling Telecommunicatio	Pair Corr

Moving against Benchmark Stock

0.8	300333	Sinosun Tech	Pair Corr
0.77	000938	Unisplendour Corp	Pair Corr
0.73	LPL	LG Display	Pair Corr
0.68	300296	Leyard Optoelectronic	Pair Corr
0.66	301379	Techshine Electronics	Pair Corr
0.63	SNT	Senstar Technologies Downward Rally	Pair Corr
0.59	603936	Bomin Electronics	Pair Corr
0.42	ARW	Arrow Electronics	Pair Corr
0.79	LINK	Interlink Electronics	Pair Corr
0.7	IMTE	Integrated Media Tec	Pair Corr
0.66	300184	Wuhan PS Information	Pair Corr
0.65	688538	Everdisplay Optronics	Pair Corr
0.61	300657	XiaMen HongXin Electron	Pair Corr
0.59	KULR	KULR Technology Group	Pair Corr
0.57	688519	Nanya New Material	Pair Corr
0.57	SNT	Sabien Technology	Pair Corr
0.55	300852	Sihui Fuji Electronics	Pair Corr
0.5	ZBRA	Zebra Technologies	Pair Corr
0.5	688630	Circuit Fabology Mic	Pair Corr
0.35	603328	Guangdong Ellington	Pair Corr

Related Correlations Analysis

	TWIN	NVX	SPCE	ALTG	PAMT	POWW	SLND	GENC	FC	NPWR
TWIN		-0.41	-0.41	-0.45	0.28	0.45	-0.18	-0.42	-0.26	-0.37	TWIN
NVX	-0.41		0.67	0.72	0.21	-0.69	0.63	0.69	0.56	0.81	NVX
SPCE	-0.41	0.67		0.57	-0.16	-0.45	0.4	0.49	0.41	0.7	SPCE
ALTG	-0.45	0.72	0.57		0.31	-0.74	0.83	0.85	0.84	0.76	ALTG
PAMT	0.28	0.21	-0.16	0.31		-0.25	0.32	0.24	0.58	0.02	PAMT
POWW	0.45	-0.69	-0.45	-0.74	-0.25		-0.62	-0.73	-0.6	-0.67	POWW
SLND	-0.18	0.63	0.4	0.83	0.32	-0.62		0.8	0.61	0.78	SLND
GENC	-0.42	0.69	0.49	0.85	0.24	-0.73	0.8		0.64	0.77	GENC
FC	-0.26	0.56	0.41	0.84	0.58	-0.6	0.61	0.64		0.43	FC
NPWR	-0.37	0.81	0.7	0.76	0.02	-0.67	0.78	0.77	0.43		NPWR
	TWIN	NVX	SPCE	ALTG	PAMT	POWW	SLND	GENC	FC	NPWR

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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

GENC	+ 0.85	ALTG
FC	+ 0.84	ALTG
SLND	+ 0.83	ALTG
NPWR	+ 0.81	NVX
GENC	+ 0.8	SLND
NPWR	+ 0.78	SLND

High negative correlations

POWW	- 0.74	ALTG
GENC	- 0.73	POWW
POWW	- 0.69	NVX
NPWR	- 0.67	POWW
SLND	- 0.62	POWW
FC	- 0.6	POWW

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
TWIN	1.75	0.18	0.10	0.22	1.78	(1.95)	4.03	(2.88)	10.06
NVX	5.23	0.03	0.00	0.14	6.47	(6.46)	13.64	(10.75)	56.77
SPCE	3.97	(0.25)	0.00	(0.06)	0.00	0.00	6.72	(7.90)	27.80
ALTG	2.72	(0.63)	0.00	(0.23)	0.00	0.00	5.64	(5.11)	14.79
PAMT	2.55	0.06	0.02	0.11	3.20	(2.86)	6.06	(5.53)	17.24
POWW	2.47	0.14	0.05	0.14	2.88	(2.86)	6.13	(4.71)	16.03
SLND	3.31	(0.55)	0.00	(0.13)	0.00	0.00	6.15	(8.04)	25.48
GENC	1.69	(0.22)	0.00	(0.10)	0.00	0.00	4.23	(3.80)	10.72
FC	2.15	(0.30)	0.00	(0.12)	0.00	0.00	4.46	(5.20)	15.18
NPWR	4.88	(0.24)	0.00	(0.01)	0.00	0.00	10.95	(10.06)	39.73

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