Correlation Between Corsair Gaming and Benchmark Electronics
Can any of the company-specific risk be diversified away by investing in both Corsair Gaming and Benchmark Electronics 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 Corsair Gaming and Benchmark Electronics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Corsair Gaming and Benchmark Electronics, you can compare the effects of market volatilities on Corsair Gaming and Benchmark Electronics 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 Corsair Gaming with a short position of Benchmark Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Corsair Gaming and Benchmark Electronics.
Diversification Opportunities for Corsair Gaming and Benchmark Electronics
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between Corsair and Benchmark is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding Corsair Gaming and Benchmark Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Benchmark Electronics and Corsair Gaming 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 Corsair Gaming are associated (or correlated) with Benchmark Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Benchmark Electronics has no effect on the direction of Corsair Gaming i.e., Corsair Gaming and Benchmark Electronics go up and down completely randomly.
Pair Corralation between Corsair Gaming and Benchmark Electronics
Given the investment horizon of 90 days Corsair Gaming is expected to under-perform the Benchmark Electronics. In addition to that, Corsair Gaming is 1.22 times more volatile than Benchmark Electronics. It trades about -0.07 of its total potential returns per unit of risk. Benchmark Electronics is currently generating about 0.06 per unit of volatility. If you would invest 3,960 in Benchmark Electronics on June 4, 2025 and sell it today you would earn a total of 99.00 from holding Benchmark Electronics or generate 2.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Corsair Gaming vs. Benchmark Electronics
Performance |
| Timeline |
| Corsair Gaming |
| Benchmark Electronics |
Corsair Gaming and Benchmark Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Corsair Gaming and Benchmark Electronics
The main advantage of trading using opposite Corsair Gaming and Benchmark Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Corsair Gaming position performs unexpectedly, Benchmark Electronics 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 Benchmark Electronics will offset losses from the drop in Benchmark Electronics' long position.| Corsair Gaming vs. Clover Health Investments | Corsair Gaming vs. Fubotv Inc | Corsair Gaming vs. Skillz Platform |
| Benchmark Electronics vs. Plexus Corp | Benchmark Electronics vs. Flex | Benchmark Electronics vs. CTS Corporation | Benchmark Electronics vs. Bel Fuse A |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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