Benchmark Electronics Correlations

BHE Stock

USD 39.28 0.08 0.20%

The current 90-days correlation between Benchmark Electronics and OSI Systems is 0.64 (i.e., Poor 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 0.65 (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

0.61	BDC	Belden Inc	Pair Corr
0.66	GLW	Corning Incorporated	Pair Corr
0.68	LPL	LG Display	Pair Corr
0.78	VSH	Vishay Intertechnology	Pair Corr
0.68	ZBRA	Zebra Technologies	Pair Corr
0.64	SMCI	Super Micro Computer Aggressive Push	Pair Corr
0.77	CRSR	Corsair Gaming	Pair Corr

Moving against Benchmark Stock

0.48

EHGO

Eshallgo Class A

Pair Corr

Related Correlations Analysis

	SANM	MEI	OSIS	CLS	PLXS	FLEX	JBL	BELFB	RELL	CTS
SANM		0.94	0.76	0.97	0.86	0.97	0.97	0.86	0.0	0.75	SANM
MEI	0.94		0.79	0.96	0.83	0.96	0.95	0.87	0.08	0.76	MEI
OSIS	0.76	0.79		0.77	0.81	0.84	0.72	0.55	-0.07	0.69	OSIS
CLS	0.97	0.96	0.77		0.82	0.98	0.98	0.85	-0.02	0.71	CLS
PLXS	0.86	0.83	0.81	0.82		0.88	0.8	0.75	0.27	0.93	PLXS
FLEX	0.97	0.96	0.84	0.98	0.88		0.97	0.83	0.04	0.79	FLEX
JBL	0.97	0.95	0.72	0.98	0.8	0.97		0.89	-0.01	0.7	JBL
BELFB	0.86	0.87	0.55	0.85	0.75	0.83	0.89		0.24	0.75	BELFB
RELL	0.0	0.08	-0.07	-0.02	0.27	0.04	-0.01	0.24		0.52	RELL
CTS	0.75	0.76	0.69	0.71	0.93	0.79	0.7	0.75	0.52		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

FLEX	+ 0.98	CLS
JBL	+ 0.98	CLS
CLS	+ 0.97	SANM
FLEX	+ 0.97	SANM
JBL	+ 0.97	SANM
JBL	+ 0.97	FLEX

High negative correlations

RELL	- 0.07	OSIS
RELL	- 0.02	CLS
RELL	- 0.01	JBL
RELL	- 0.0	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	1.85	0.31	0.12	0.31	2.42	(2.22)	3.88	(2.81)	14.36
MEI	2.52	0.51	0.18	0.42	2.56	(2.90)	6.58	(3.79)	15.25
OSIS	1.86	0.12	0.04	0.15	2.64	(1.79)	4.51	(3.52)	14.87
CLS	3.24	0.69	0.16	0.42	4.19	(3.66)	6.55	(4.69)	25.99
PLXS	1.47	0.00	0.01	0.05	2.31	(1.59)	2.55	(2.69)	16.40
FLEX	2.23	0.43	0.12	0.30	3.34	(2.42)	5.21	(3.89)	20.44
JBL	1.87	0.55	0.18	0.42	2.24	(1.96)	5.04	(3.88)	18.07
BELFB	2.55	0.31	0.09	0.23	3.63	(2.80)	4.95	(4.93)	21.09
RELL	2.35	(0.35)	0.00	(0.22)	0.00	0.00	4.38	(4.07)	24.02
CTS	1.78	(0.03)	(0.01)	0.02	2.33	(2.30)	3.53	(3.25)	14.33

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