Correlation Between Benchmark Electronics and Mobilicom Limited
Can any of the company-specific risk be diversified away by investing in both Benchmark Electronics and Mobilicom Limited at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Benchmark Electronics and Mobilicom Limited into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Benchmark Electronics and Mobilicom Limited American, you can compare the effects of market volatilities on Benchmark Electronics and Mobilicom Limited and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Benchmark Electronics with a short position of Mobilicom Limited. Check out your portfolio center. Please also check ongoing floating volatility patterns of Benchmark Electronics and Mobilicom Limited.
Diversification Opportunities for Benchmark Electronics and Mobilicom Limited
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Benchmark and Mobilicom is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Benchmark Electronics and Mobilicom Limited American in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mobilicom Limited and Benchmark Electronics is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Benchmark Electronics are associated (or correlated) with Mobilicom Limited. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mobilicom Limited has no effect on the direction of Benchmark Electronics i.e., Benchmark Electronics and Mobilicom Limited go up and down completely randomly.
Pair Corralation between Benchmark Electronics and Mobilicom Limited
Considering the 90-day investment horizon Benchmark Electronics is expected to generate 14.88 times less return on investment than Mobilicom Limited. But when comparing it to its historical volatility, Benchmark Electronics is 4.34 times less risky than Mobilicom Limited. It trades about 0.06 of its potential returns per unit of risk. Mobilicom Limited American is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 268.00 in Mobilicom Limited American on June 8, 2025 and sell it today you would earn a total of 342.00 from holding Mobilicom Limited American or generate 127.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Benchmark Electronics vs. Mobilicom Limited American
Performance |
| Timeline |
| Benchmark Electronics |
| Mobilicom Limited |
Benchmark Electronics and Mobilicom Limited Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Benchmark Electronics and Mobilicom Limited
The main advantage of trading using opposite Benchmark Electronics and Mobilicom Limited positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Benchmark Electronics position performs unexpectedly, Mobilicom Limited can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Mobilicom Limited will offset losses from the drop in Mobilicom Limited's long position.| Benchmark Electronics vs. Sanmina | Benchmark Electronics vs. Methode Electronics | Benchmark Electronics vs. OSI Systems | Benchmark Electronics vs. Celestica |
| Mobilicom Limited vs. Mobilicom Limited Warrants | Mobilicom Limited vs. Siyata Mobile | Mobilicom Limited vs. Actelis Networks | Mobilicom Limited vs. bioAffinity Technologies, |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |