BHE vs SANM: Correlation
Measured on weekly returns over the past three years, Benchmark Electronics, Inc. (BHE) and Sanmina Corporation (SANM) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHE and SANM?
Across a 3-year window, the weekly returns of BHE and SANM correlate at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 990.6 %².
Among the 16 assets we track against BHE, SANM ranks #8 by 3-year correlation. The trailing year gives BHE the advantage: +81.4% versus +73.9%, a 7.5-point spread.
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 SANM: side by side
| BHE (Benchmark Electronics, Inc.) | SANM (Sanmina Corporation) | |
|---|---|---|
| 1-year return | +81.4% | +73.9% |
| 5-year return | +202.1% | +410.5% |
| Volatility (ann.) | 36.4% | 46.6% |
| Beta vs S&P 500 | 1.21 | 1.34 |
| Max drawdown (3Y) | -36.7% | -42.0% |
| Market cap | $2.6B | $10.9B |
| P/E (trailing) | 49.5 | 35.6 |
| Dividend yield | 0.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHE | SANM |
|---|---|---|
| 2022 | +1.1% | +38.2% |
| 2023 | +6.3% | -10.3% |
| 2024 | +67.1% | +47.3% |
| 2025 | -4.2% | +98.3% |
| 2026 | +73.2% | +35.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHE and SANM good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BHE and SANM?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.52 over the last year and 0.61 over 5 years.
Is SANM a good diversifier for BHE?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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-sanm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bhe-vs-sanm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BHE correlations · SANM correlations
