BHE vs NWPX: Correlation
Benchmark Electronics, Inc. (BHE) and NWPX Infrastructure, Inc. (NWPX) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHE and NWPX?
Over the past 3 years, BHE and NWPX moved with a correlation of 0.60, which is strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.60 over 3. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 831.3 %².
Within BHE's tracked universe of 16 assets, NWPX comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NWPX ahead by 32.7 points (+81.4% versus +114.1%).
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 NWPX: side by side
| BHE (Benchmark Electronics, Inc.) | NWPX (NWPX Infrastructure, Inc.) | |
|---|---|---|
| 1-year return | +81.4% | +114.1% |
| 5-year return | +202.1% | +340.7% |
| Volatility (ann.) | 36.4% | 37.8% |
| Beta vs S&P 500 | 1.21 | 0.95 |
| Max drawdown (3Y) | -36.7% | -35.4% |
| Market cap | $2.6B | $1.1B |
| P/E (trailing) | 49.5 | 23.1 |
| Dividend yield | 0.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHE | NWPX |
|---|---|---|
| 2022 | +1.1% | +6.0% |
| 2023 | +6.3% | -10.2% |
| 2024 | +67.1% | +59.5% |
| 2025 | -4.2% | +29.5% |
| 2026 | +73.2% | +82.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHE and NWPX good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BHE and NWPX?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.68 over the last year and 0.55 over 5 years.
Is NWPX a good diversifier for BHE?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
A reading of 0.60 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bhe-vs-nwpx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bhe-vs-nwpx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BHE correlations · NWPX correlations
