BHE vs HLIT: Correlation
How closely do Benchmark Electronics, Inc. (BHE) and Harmonic Inc. (HLIT) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHE and HLIT?
Over the past 3 years, BHE and HLIT moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 848.5 %².
Within BHE's tracked universe of 16 assets, HLIT comes in at #10 by 3-year correlation. The last year tells two different stories: BHE led by 52.0 percentage points, +81.4% for BHE against +29.4% for HLIT.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BHE vs HLIT: side by side
| BHE (Benchmark Electronics, Inc.) | HLIT (Harmonic Inc.) | |
|---|---|---|
| 1-year return | +81.4% | +29.4% |
| 5-year return | +202.1% | +34.2% |
| Volatility (ann.) | 36.4% | 46.9% |
| Beta vs S&P 500 | 1.21 | 1.41 |
| Max drawdown (3Y) | -36.7% | -44.3% |
| Market cap | $2.6B | $1.3B |
| P/E (trailing) | 49.5 | 51.2 |
| Dividend yield | 0.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHE | HLIT |
|---|---|---|
| 2022 | +1.1% | +11.4% |
| 2023 | +6.3% | -0.5% |
| 2024 | +67.1% | +1.5% |
| 2025 | -4.2% | -25.2% |
| 2026 | +73.2% | +24.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHE and HLIT good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BHE and HLIT?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.51 over the last year and 0.47 over 5 years.
Is HLIT a good diversifier for BHE?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bhe-vs-hlit.json
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[](https://www.pairbook.io/pair/bhe-vs-hlit/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BHE correlations · HLIT correlations
