Correlation Between Benchmark Electronics and Rigetti Computing

Can any of the company-specific risk be diversified away by investing in both Benchmark Electronics and Rigetti Computing 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 Rigetti Computing into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Benchmark Electronics and Rigetti Computing, you can compare the effects of market volatilities on Benchmark Electronics and Rigetti Computing 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 Rigetti Computing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Benchmark Electronics and Rigetti Computing.

Diversification Opportunities for Benchmark Electronics and Rigetti Computing

-0.67

Correlation Coefficient

Benchmark Electronics  Rigetti Computing

Excellent diversification

The 3 months correlation between Benchmark and Rigetti is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Benchmark Electronics and Rigetti Computing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rigetti Computing 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 Rigetti Computing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rigetti Computing has no effect on the direction of Benchmark Electronics i.e., Benchmark Electronics and Rigetti Computing go up and down completely randomly.

Pair Corralation between Benchmark Electronics and Rigetti Computing

Considering the 90-day investment horizon Benchmark Electronics is expected to generate 0.3 times more return on investment than Rigetti Computing. However, Benchmark Electronics is 3.32 times less risky than Rigetti Computing. It trades about 0.14 of its potential returns per unit of risk. Rigetti Computing is currently generating about -0.1 per unit of risk. If you would invest  3,740  in Benchmark Electronics on October 9, 2025 and sell it today you would earn a total of  720.00  from holding Benchmark Electronics or generate 19.25% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	100.0%
Values	Daily Returns

Benchmark Electronics  vs.  Rigetti Computing

Benchmark Electronics

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Benchmark Electronics are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. In spite of rather unfluctuating technical indicators, Benchmark Electronics exhibited solid returns over the last few months and may actually be approaching a breakup point.

Rigetti Computing

Risk-Adjusted Performance

Weakest

Over the last 90 days Rigetti Computing has generated negative risk-adjusted returns adding no value to investors with long positions. Despite uncertain performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in February 2026. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Pair Trading with Benchmark Electronics and Rigetti Computing

The main advantage of trading using opposite Benchmark Electronics and Rigetti Computing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Benchmark Electronics position performs unexpectedly, Rigetti Computing 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 Rigetti Computing will offset losses from the drop in Rigetti Computing's long position.

The idea behind Benchmark Electronics and Rigetti Computing pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.