BHE vs VIAV: Correlation
Benchmark Electronics, Inc. (BHE) and Viavi Solutions Inc. (VIAV) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHE and VIAV?
Over the past 3 years, BHE and VIAV moved with a correlation of 0.47, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.47 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 806.8 %².
VIAV is close to the least connected end of BHE's tracked universe, ranking #12 of 16. Their recent paths diverged sharply: over the last 12 months VIAV outperformed by 163.8 percentage points (+81.4% for BHE against +245.2% for VIAV).
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 VIAV: side by side
| BHE (Benchmark Electronics, Inc.) | VIAV (Viavi Solutions Inc.) | |
|---|---|---|
| 1-year return | +81.4% | +245.2% |
| 5-year return | +202.1% | +132.5% |
| Volatility (ann.) | 36.4% | 47.3% |
| Beta vs S&P 500 | 1.21 | 1.14 |
| Max drawdown (3Y) | -36.7% | -41.7% |
| Market cap | $2.6B | $9.5B |
| P/E (trailing) | 49.5 | – |
| Dividend yield | 0.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHE | VIAV |
|---|---|---|
| 2022 | +1.1% | -40.4% |
| 2023 | +6.3% | -4.2% |
| 2024 | +67.1% | +0.3% |
| 2025 | -4.2% | +76.4% |
| 2026 | +73.2% | +115.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHE and VIAV good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BHE and VIAV?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.58 over the last year and 0.47 over 5 years.
Is VIAV a good diversifier for BHE?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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-viav.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhe-vs-viav/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BHE correlations · VIAV correlations
