Check Point Correlations

Stocks . UK . 
Stock . Check Point Software
0Y9S Stock   180.02  6.64  3.56%   
The current 90-days correlation between Check Point Software and Zegona Communications Plc is -0.04 (i.e., Good diversification). The correlation of Check Point is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Check Point Correlation With Market

Modest diversification

The correlation between Check Point Software and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Check Point Software and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Check Point could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Check Point when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Check Point - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Check Point Software to buy it.

Moving against Check Stock

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  0.570IW3 Global Net LeasePairCorr
  0.550LIU United Airlines HoldingsPairCorr
  0.530OIY Caltagirone SpA OrdPairCorr
  0.5JPEL JPEL Private EquityPairCorr
  0.49LGLD LG ELECTRONICS INCPairCorr
  0.460JTQ Lear CorpPairCorr
  0.46MNG MG PlcPairCorr
  0.450H3Q Deutsche Post AGPairCorr
  0.44BIRG Bank of IrelandPairCorr

Related Correlations Analysis


Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

0GA3
+ 0.86
ZEG
0GA3
+ 0.84
0I77
ZEG
+ 0.81
ELLA
0GA3
+ 0.8
ELLA
0I77
+ 0.75
ZEG
0I77
+ 0.65
ELLA
  

High negative correlations

ELLA
- 0.81
0DO7
ZEG
- 0.7
0DO7
0GA3
- 0.66
0DO7
0I77
- 0.4
0DO7
0VRQ
- 0.38
0DO7

Risk-Adjusted Indicators

There is a big difference between Check Stock performing well and Check Point Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Check Point's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Check Point without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Check Point Corporate Management

Elected by the shareholders, the Check Point's board of directors comprises two types of representatives: Check Point inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Check. The board's role is to monitor Check Point's management team and ensure that shareholders' interests are well served. Check Point's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Check Point's outside directors are responsible for providing unbiased perspectives on the board's policies.
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