BHE vs POWL: Correlation
Benchmark Electronics, Inc. (BHE) and Powell Industries, Inc. (POWL) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHE and POWL?
Across a 3-year window, the weekly returns of BHE and POWL correlate at 0.58, moderate. Recent behaviour matches the longer record: 0.66 over 1 year against 0.58 over 3. Stretching to 5 years gives 0.47, with an annualized covariance of 1503.0 %².
By 3-year correlation, POWL places #7 of the 16 assets tracked against BHE. Their recent paths diverged sharply: over the last 12 months POWL outperformed by 29.6 percentage points (+81.4% for BHE against +111.0% for POWL). One caveat on sizing: POWL is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 POWL: side by side
| BHE (Benchmark Electronics, Inc.) | POWL (Powell Industries, Inc.) | |
|---|---|---|
| 1-year return | +81.4% | +111.0% |
| 5-year return | +202.1% | +2360.3% |
| Volatility (ann.) | 36.4% | 71.5% |
| Beta vs S&P 500 | 1.21 | 1.95 |
| Max drawdown (3Y) | -36.7% | -55.8% |
| Market cap | $2.6B | $7.0B |
| P/E (trailing) | 49.5 | 36.8 |
| Dividend yield | 0.94% | 0.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHE | POWL |
|---|---|---|
| 2022 | +1.1% | +24.3% |
| 2023 | +6.3% | +155.6% |
| 2024 | +67.1% | +152.2% |
| 2025 | -4.2% | +44.5% |
| 2026 | +73.2% | +81.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHE and POWL good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BHE and POWL?
As of 2026-08-27, the correlation of weekly returns between BHE and POWL is 0.58 over 3 years, 0.66 over 1 year and 0.47 over 5 years.
Is POWL a good diversifier for BHE?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 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-powl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bhe-vs-powl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BHE correlations · POWL correlations
