Benchmark Electronics Correlations

BHE Stock

USD 40.10 0.00 0.00%

The current 90-days correlation between Benchmark Electronics and OSI Systems is 0.27 (i.e., Modest 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

Weak diversification

The correlation between Benchmark Electronics and DJI is 0.39 (i.e., 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.

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

0.66	WBX	Wallbox NV	Pair Corr
0.74	AIRG	Airgain	Pair Corr
0.76	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.72	CRM	Salesforce	Pair Corr
0.82	TDC	Teradata Corp	Pair Corr
0.92	SLNH	Soluna Holdings	Pair Corr
0.75	PPERF	Bank Mandiri Persero	Pair Corr
0.84	PPERY	Bank Mandiri Persero	Pair Corr
0.68	PBCRF	PT Bank Central	Pair Corr
0.84	PBCRY	Bank Central Asia	Pair Corr
0.68	BKRKY	Bank Rakyat	Pair Corr
0.7	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.77	TLK	Telkom Indonesia Tbk	Pair Corr

Moving against Benchmark Stock

0.74	JG	Aurora Mobile	Pair Corr
0.67	ALTR	Altair Engineering	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.55	BB	BlackBerry	Pair Corr
0.53	MLGO	MicroAlgo	Pair Corr
0.5	FTNT	Fortinet	Pair Corr
0.46	ZS	Zscaler	Pair Corr
0.44	MQ	Marqeta	Pair Corr
0.42	DOCN	DigitalOcean Holdings	Pair Corr
0.92	JNJ	Johnson Johnson	Pair Corr
0.91	T	ATT Inc Earnings Call Today	Pair Corr
0.85	WM	Waste Management	Pair Corr
0.83	VZ	Verizon Communications	Pair Corr
0.81	IBM	International Business	Pair Corr
0.8	MCD	McDonalds	Pair Corr
0.75	CWCO	Consolidated Water Earnings Call Tomorrow	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr
0.69	PG	Procter Gamble	Pair Corr
0.43	300131	ShenZhen Yitoa Intel	Pair Corr
0.36	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.34	SSNLF	Samsung Electronics	Pair Corr

Related Correlations Analysis

	SANM	MEI	OSIS	CLS	PLXS	FLEX	JBL	BELFB	RELL	CTS
SANM		0.35	0.65	0.94	0.07	0.79	0.86	0.33	-0.02	0.01	SANM
MEI	0.35		-0.17	0.38	0.82	0.7	0.51	0.67	0.68	0.84	MEI
OSIS	0.65	-0.17		0.54	-0.57	0.19	0.42	0.19	-0.28	-0.47	OSIS
CLS	0.94	0.38	0.54		0.14	0.84	0.86	0.25	0.02	0.07	CLS
PLXS	0.07	0.82	-0.57	0.14		0.54	0.23	0.42	0.66	0.93	PLXS
FLEX	0.79	0.7	0.19	0.84	0.54		0.91	0.33	0.29	0.47	FLEX
JBL	0.86	0.51	0.42	0.86	0.23	0.91		0.23	0.02	0.15	JBL
BELFB	0.33	0.67	0.19	0.25	0.42	0.33	0.23		0.63	0.54	BELFB
RELL	-0.02	0.68	-0.28	0.02	0.66	0.29	0.02	0.63		0.75	RELL
CTS	0.01	0.84	-0.47	0.07	0.93	0.47	0.15	0.54	0.75		CTS
	SANM	MEI	OSIS	CLS	PLXS	FLEX	JBL	BELFB	RELL	CTS

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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

CLS	+ 0.94	SANM
CTS	+ 0.93	PLXS
JBL	+ 0.91	FLEX
JBL	+ 0.86	SANM
JBL	+ 0.86	CLS
CTS	+ 0.84	MEI

High negative correlations

PLXS	- 0.57	OSIS
CTS	- 0.47	OSIS
RELL	- 0.28	OSIS
OSIS	- 0.17	MEI
RELL	- 0.02	SANM

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
SANM	1.42	0.06	0.00	(0.02)	0.00	0.00	3.14	(3.21)	13.03
MEI	3.13	(0.69)	0.00	(0.34)	0.00	0.00	5.37	(6.72)	38.95
OSIS	1.97	0.22	0.08	0.09	2.38	(2.04)	3.70	(4.10)	19.95
CLS	4.03	0.26	0.03	0.07	7.02	(3.73)	8.16	(7.29)	32.59
PLXS	1.33	(0.33)	0.00	(0.51)	0.00	0.00	2.30	(3.00)	12.43
FLEX	2.01	0.04	0.00	(0.04)	0.00	0.00	3.63	(4.80)	16.57
JBL	1.64	0.21	0.07	0.10	2.50	(1.60)	3.25	(3.42)	15.22
BELFB	1.64	(0.18)	0.00	(0.37)	0.00	0.00	3.05	(3.23)	12.43
RELL	1.67	(0.20)	0.00	(0.87)	0.00	0.00	3.79	(3.55)	17.14
CTS	1.28	(0.36)	0.00	(0.42)	0.00	0.00	2.05	(3.56)	6.79

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