bench mark

A benchmark is a standard or point of reference used to measure or judge something else. In surveying, a benchmark is a specific, permanent mark indicating a known elevation, serving as a reference point for topographic surveys and tidal observations. Surveyor's levels use these benchmarks to measure the height of distant points.12

In finance, benchmarks are typically indexes or baskets of assets used to evaluate the performance of investments, such as stocks or bonds. For example, the S&P 500 is a common benchmark for U.S. stocks. Benchmarking is also a governance technique where public services are improved by comparing their performance against an ideal standard or other services.34