Benchmark Electronics Correlations

BHE Stock

USD 39.41 0.47 1.18%

The current 90-days correlation between Benchmark Electronics and OSI Systems is 0.36 (i.e., 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

Very weak diversification

The correlation between Benchmark Electronics and DJI is 0.43 (i.e., Very 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.

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

0.75	LPL	LG Display Earnings Call This Week	Pair Corr
0.78	VSH	Vishay Intertechnology	Pair Corr
0.64	GILT	Gilat Satellite Networks	Pair Corr
0.77	LASR	nLIGHT Inc	Pair Corr
0.78	LITE	Lumentum Holdings	Pair Corr
0.79	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.81	RDWR	Radware	Pair Corr
0.79	AAOI	Applied Opt	Pair Corr
0.77	ADTN	ADTRAN Inc	Pair Corr
0.76	AVNW	Aviat Networks	Pair Corr
0.66	CRNT	Ceragon Networks	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr
0.79	MU	Micron Technology	Pair Corr
0.72	MX	MagnaChip Semiconductor	Pair Corr
0.84	ON	ON Semiconductor	Pair Corr
0.75	VRRM	Verra Mobility Corp	Pair Corr
0.64	ENLV	Enlivex Therapeutics	Pair Corr
0.79	ADI	Analog Devices	Pair Corr
0.81	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.75	ARM	Arm Holdings plc	Pair Corr
0.72	FRGE	Forge Global Holdings	Pair Corr
0.72	GFS	Globalfoundries	Pair Corr

Moving against Benchmark Stock

0.55	QMCO	Quantum	Pair Corr
0.5	IMTE	Integrated Media Tec Tech Boost	Pair Corr
0.71	FRGT	Freight Technologies	Pair Corr

Related Correlations Analysis

	SANM	MEI	OSIS	CLS	PLXS	FLEX	JBL	BELFB	RELL	CTS
SANM		0.6	0.4	0.97	0.86	0.96	0.97	0.95	0.89	0.73	SANM
MEI	0.6		0.72	0.68	0.75	0.69	0.7	0.62	0.67	0.82	MEI
OSIS	0.4	0.72		0.47	0.66	0.56	0.44	0.36	0.62	0.74	OSIS
CLS	0.97	0.68	0.47		0.89	0.98	0.98	0.95	0.88	0.76	CLS
PLXS	0.86	0.75	0.66	0.89		0.92	0.87	0.8	0.93	0.93	PLXS
FLEX	0.96	0.69	0.56	0.98	0.92		0.98	0.92	0.91	0.81	FLEX
JBL	0.97	0.7	0.44	0.98	0.87	0.98		0.96	0.88	0.76	JBL
BELFB	0.95	0.62	0.36	0.95	0.8	0.92	0.96		0.83	0.7	BELFB
RELL	0.89	0.67	0.62	0.88	0.93	0.91	0.88	0.83		0.88	RELL
CTS	0.73	0.82	0.74	0.76	0.93	0.81	0.76	0.7	0.88		CTS
	SANM	MEI	OSIS	CLS	PLXS	FLEX	JBL	BELFB	RELL	CTS

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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	0.31	0.19	0.44	1.41	(1.69)	2.86	(2.48)	8.16
MEI	2.63	0.16	0.04	0.23	5.16	(2.57)	5.59	(3.57)	33.90
OSIS	1.55	0.02	0.01	0.15	2.30	(1.47)	3.22	(3.17)	17.06
CLS	2.31	0.94	0.43	1.04	1.72	(3.01)	5.50	(3.40)	14.13
PLXS	1.11	0.04	0.02	0.18	1.09	(1.27)	2.47	(2.10)	6.55
FLEX	1.49	0.70	0.58	0.78	0.38	(1.94)	4.64	(1.55)	9.10
JBL	1.31	0.67	0.58	0.82	0.00	(1.64)	3.95	(1.38)	10.46
BELFB	1.85	0.43	0.21	0.52	1.69	(2.13)	4.04	(3.30)	10.99
RELL	1.89	0.07	0.05	0.18	2.02	(2.08)	3.89	(3.43)	10.26
CTS	1.51	0.00	0.02	0.13	1.58	(1.78)	3.09	(2.78)	9.74

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