Benchmark Electronics Correlations

BHE Stock

USD 49.49 0.04 0.08%

The current 90-days correlation between Benchmark Electronics and Rogers is 0.16 (i.e., Average 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 0.44 (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

0.75	GOOG	Alphabet Class C	Pair Corr
0.66	BMYMP	Bristol Myers Squibb	Pair Corr
0.65	F	Ford Motor	Pair Corr
0.64	INTC	Intel Aggressive Push	Pair Corr
0.67	ACN	Accenture plc	Pair Corr
0.61	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.82	CAT	Caterpillar Sell-off Trend	Pair Corr
0.62	IBM	International Business	Pair Corr
0.71	DD	Dupont De Nemours	Pair Corr

Moving against Benchmark Stock

0.62	EHGO	Eshallgo Class A	Pair Corr
0.61	LINK	Interlink Electronics	Pair Corr
0.59	MSFT	Microsoft	Pair Corr
0.38	META	Meta Platforms Sell-off Trend	Pair Corr
0.35	CDW	CDW Corp	Pair Corr
0.56	T	ATT Inc	Pair Corr
0.45	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ROG	PRCH	CTS	BELFB	ADEA	OUST	HIMX	NYAX	CNXN
ROG		-0.29	0.76	0.92	0.61	0.02	0.3	0.75	0.14	ROG
PRCH	-0.29		-0.6	-0.46	0.28	0.87	0.7	-0.39	0.63	PRCH
CTS	0.76	-0.6		0.88	0.27	-0.3	-0.1	0.76	-0.18	CTS
BELFB	0.92	-0.46	0.88		0.48	-0.13	0.13	0.78	-0.08	BELFB
ADEA	0.61	0.28	0.27	0.48		0.53	0.48	0.59	0.28	ADEA
OUST	0.02	0.87	-0.3	-0.13	0.53		0.8	-0.06	0.64	OUST
HIMX	0.3	0.7	-0.1	0.13	0.48	0.8		0.02	0.69	HIMX
NYAX	0.75	-0.39	0.76	0.78	0.59	-0.06	0.02		-0.12	NYAX
CNXN	0.14	0.63	-0.18	-0.08	0.28	0.64	0.69	-0.12		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	+ 0.92	ROG
BELFB	+ 0.88	CTS
OUST	+ 0.87	PRCH
HIMX	+ 0.8	OUST
NYAX	+ 0.78	BELFB
CTS	+ 0.76	ROG

High negative correlations

CTS	- 0.6	PRCH
BELFB	- 0.46	PRCH
NYAX	- 0.39	PRCH
OUST	- 0.3	CTS
PRCH	- 0.29	ROG
CNXN	- 0.18	CTS

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	1.68	0.22	0.10	0.44	1.66	(1.96)	4.08	(2.69)	11.01
PRCH	2.82	(0.71)	0.00	(0.60)	0.00	0.00	4.33	(5.25)	42.64
CTS	1.46	0.24	0.12	0.28	1.68	(1.48)	3.38	(3.10)	8.92
BELFB	2.05	0.37	0.13	0.37	2.62	(2.11)	4.48	(4.41)	13.39
ADEA	2.64	0.35	0.08	0.57	3.83	(2.83)	5.29	(3.84)	32.90
OUST	4.47	(0.19)	0.00	(0.02)	0.00	0.00	8.52	(8.94)	30.80
HIMX	2.27	(0.05)	0.00	(0.61)	0.00	0.00	4.15	(3.93)	17.40
NYAX	1.95	0.30	0.12	0.59	2.04	(2.25)	3.93	(2.90)	13.73
CNXN	0.97	(0.14)	0.00	(0.06)	0.00	0.00	2.19	(1.92)	5.96

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