Benchmark Electronics Correlations

BHE Stock

USD 41.92 0.57 1.38%

The current 90-days correlation between Benchmark Electronics and Digi International is 0.58 (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

Good diversification

The correlation between Benchmark Electronics and DJI is -0.12 (i.e., Good 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 various price indices.

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

Moving against Benchmark Stock

0.39

MSFT

Microsoft

Pair Corr

Related Correlations Analysis

	DGII	PENG	CTS	ROG	PLTK	ATEN	PLAB	TUYA	BELFB
DGII		0.37	-0.01	0.79	-0.5	0.12	0.74	0.4	0.67	DGII
PENG	0.37		0.32	0.19	-0.04	0.35	0.45	0.51	0.18	PENG
CTS	-0.01	0.32		0.0	-0.12	-0.27	-0.01	0.24	-0.02	CTS
ROG	0.79	0.19	0.0		-0.81	-0.3	0.74	0.44	0.85	ROG
PLTK	-0.5	-0.04	-0.12	-0.81		0.61	-0.62	-0.3	-0.76	PLTK
ATEN	0.12	0.35	-0.27	-0.3	0.61		0.01	0.18	-0.31	ATEN
PLAB	0.74	0.45	-0.01	0.74	-0.62	0.01		0.52	0.7	PLAB
TUYA	0.4	0.51	0.24	0.44	-0.3	0.18	0.52		0.3	TUYA
BELFB	0.67	0.18	-0.02	0.85	-0.76	-0.31	0.7	0.3		BELFB
	DGII	PENG	CTS	ROG	PLTK	ATEN	PLAB	TUYA	BELFB

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	+ 0.85	ROG
ROG	+ 0.79	DGII
PLAB	+ 0.74	DGII
PLAB	+ 0.74	ROG
BELFB	+ 0.7	PLAB
BELFB	+ 0.67	DGII

High negative correlations

PLTK	- 0.81	ROG
BELFB	- 0.76	PLTK
PLAB	- 0.62	PLTK
PLTK	- 0.5	DGII
BELFB	- 0.31	ATEN
TUYA	- 0.3	PLTK

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
DGII	1.77	0.25	0.08	(0.38)	2.01	(1.96)	4.68	(3.45)	10.85
PENG	2.01	(0.16)	0.00	(0.94)	0.00	0.00	4.87	(3.45)	21.59
CTS	1.55	(0.03)	0.00	(0.03)	0.00	0.00	3.86	(2.87)	9.31
ROG	1.76	0.46	0.20	(0.47)	1.53	(2.07)	4.14	(3.05)	11.11
PLTK	2.27	(0.32)	0.00	(0.59)	0.00	0.00	5.22	(4.40)	14.03
ATEN	1.37	(0.07)	0.00	0.17	0.00	0.00	2.38	(3.59)	9.96
PLAB	2.17	0.15	0.08	0.11	2.58	(2.53)	6.75	(3.86)	16.68
TUYA	2.15	(0.09)	0.00	(5.35)	0.00	0.00	4.70	(4.44)	12.80
BELFB	2.22	0.62	0.19	(0.52)	2.10	(2.36)	5.03	(3.65)	22.26

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