Correlation Between PLAYTIKA HOLDING and Benchmark Electronics

Can any of the company-specific risk be diversified away by investing in both PLAYTIKA HOLDING and Benchmark Electronics at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining PLAYTIKA HOLDING and Benchmark Electronics into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between PLAYTIKA HOLDING DL 01 and Benchmark Electronics, you can compare the effects of market volatilities on PLAYTIKA HOLDING and Benchmark Electronics and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in PLAYTIKA HOLDING with a short position of Benchmark Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of PLAYTIKA HOLDING and Benchmark Electronics.

Diversification Opportunities for PLAYTIKA HOLDING and Benchmark Electronics

-0.37

Correlation Coefficient

PLAYTIKA HOLDING  Benchmark Electronics

Very good diversification

The 3 months correlation between PLAYTIKA and Benchmark is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding PLAYTIKA HOLDING DL 01 and Benchmark Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Benchmark Electronics and PLAYTIKA HOLDING is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on PLAYTIKA HOLDING DL 01 are associated (or correlated) with Benchmark Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Benchmark Electronics has no effect on the direction of PLAYTIKA HOLDING i.e., PLAYTIKA HOLDING and Benchmark Electronics go up and down completely randomly.

Pair Corralation between PLAYTIKA HOLDING and Benchmark Electronics

Assuming the 90 days horizon PLAYTIKA HOLDING DL 01 is expected to under-perform the Benchmark Electronics. In addition to that, PLAYTIKA HOLDING is 1.24 times more volatile than Benchmark Electronics. It trades about -0.05 of its total potential returns per unit of risk. Benchmark Electronics is currently generating about 0.05 per unit of volatility. If you would invest  3,186  in Benchmark Electronics on April 24, 2025 and sell it today you would earn a total of  174.00  from holding Benchmark Electronics or generate 5.46% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

PLAYTIKA HOLDING DL 01  vs.  Benchmark Electronics

PLAYTIKA HOLDING

Risk-Adjusted Performance

Very Weak

Over the last 90 days PLAYTIKA HOLDING DL 01 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Stock's basic indicators remain stable and the current disturbance on Wall Street may also be a sign of long-run gains for the company stockholders.

Benchmark Electronics

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Benchmark Electronics are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Benchmark Electronics may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with PLAYTIKA HOLDING and Benchmark Electronics

The main advantage of trading using opposite PLAYTIKA HOLDING and Benchmark Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PLAYTIKA HOLDING position performs unexpectedly, Benchmark Electronics can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Benchmark Electronics will offset losses from the drop in Benchmark Electronics' long position.

The idea behind PLAYTIKA HOLDING DL 01 and Benchmark Electronics pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.