Check Point Correlations

C1HK34 Stock

426.50 0.00 0.00%

The current 90-days correlation between Check Point Software and Berkshire Hathaway is 0.04 (i.e., Significant 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.

Check Point Correlation With Market

Excellent diversification

The correlation between Check Point Software and DJI is -0.64 (i.e., Excellent 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 together with Check Stock

0.7	AAPL34	Apple Inc	Pair Corr
0.82	MSFT34	Microsoft	Pair Corr
0.72	BERK34	Berkshire Hathaway Earnings Call Tomorrow	Pair Corr

Moving against Check Stock

0.91	T1EC34	TechnipFMC plc	Pair Corr
0.87	ITUB4	Ita Unibanco Holding Split	Pair Corr
0.84	B3SA3	B3 SA Earnings Call This Week	Pair Corr
0.84	VBBR3F	VBBR3F Earnings Call This Week	Pair Corr
0.83	B1SA34	Banco Santander Chile	Pair Corr
0.82	CXSE3	Caixa Seguridade Par Earnings Call This Week	Pair Corr
0.81	BBAS3	Banco do Brasil	Pair Corr
0.75	TSMC34	Taiwan Semiconductor	Pair Corr
0.75	IRBR3	IRB Brasil Resseguros	Pair Corr
0.75	L1HX34	L3Harris Technologies	Pair Corr
0.69	H1SB34	HSBC Holdings plc	Pair Corr
0.69	MOVI3	Movida Participaes	Pair Corr
0.67	PETZ3	Pet Center Comrcio	Pair Corr
0.61	TELB3	Telecomunicaes Brasileiras	Pair Corr
0.54	ONCO3	Oncoclinicas do Brasil	Pair Corr
0.54	BMGB4	Banco BMG SA	Pair Corr
0.52	PGCO34	Procter Gamble	Pair Corr
0.5	VERZ34	Verizon Communications	Pair Corr
0.36	BLAU3	Blau Farmacutica Split	Pair Corr
0.32	V1MC34	Vulcan Materials	Pair Corr
0.85	PNVL3	Dimed SA Distribuidora	Pair Corr
0.85	RANI3	Irani Papel e Earnings Call Today	Pair Corr
0.83	MUTC34	Micron Technology	Pair Corr
0.82	MOSC34	Mosaic Earnings Call This Week	Pair Corr
0.81	HALI34	Halliburton	Pair Corr
0.81	LUPA3	Lupatech SA	Pair Corr
0.8	RECV3	Petroreconcavo SA	Pair Corr
0.79	A1KA34	Akamai Technologies	Pair Corr
0.75	WEGE3	WEG SA Earnings Call This Week	Pair Corr
0.74	BCPX39	Global X Funds Split	Pair Corr

Related Correlations Analysis

	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	H1SB34	BERK34
TSMC34		-0.61	0.29	-0.73	0.85	0.4	0.47	-0.32	0.86	-0.56	TSMC34
AAPL34	-0.61		-0.5	0.51	-0.64	-0.11	-0.12	0.09	-0.54	0.78	AAPL34
BABA34	0.29	-0.5		-0.15	0.36	0.4	0.35	0.25	0.24	-0.6	BABA34
MSFT34	-0.73	0.51	-0.15		-0.78	-0.12	-0.15	0.68	-0.67	0.62	MSFT34
B1SA34	0.85	-0.64	0.36	-0.78		0.42	0.47	-0.27	0.91	-0.69	B1SA34
GOGL35	0.4	-0.11	0.4	-0.12	0.42		0.92	0.38	0.45	-0.1	GOGL35
GOGL34	0.47	-0.12	0.35	-0.15	0.47	0.92		0.35	0.54	-0.12	GOGL34
AMZO34	-0.32	0.09	0.25	0.68	-0.27	0.38	0.35		-0.16	0.19	AMZO34
H1SB34	0.86	-0.54	0.24	-0.67	0.91	0.45	0.54	-0.16		-0.5	H1SB34
BERK34	-0.56	0.78	-0.6	0.62	-0.69	-0.1	-0.12	0.19	-0.5		BERK34
	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	H1SB34	BERK34

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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

GOGL34	+ 0.92	GOGL35
H1SB34	+ 0.91	B1SA34
H1SB34	+ 0.86	TSMC34
B1SA34	+ 0.85	TSMC34
BERK34	+ 0.78	AAPL34
AMZO34	+ 0.68	MSFT34

High negative correlations

B1SA34	- 0.78	MSFT34
MSFT34	- 0.73	TSMC34
BERK34	- 0.69	B1SA34
H1SB34	- 0.67	MSFT34
B1SA34	- 0.64	AAPL34
AAPL34	- 0.61	TSMC34

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TSMC34	1.63	0.29	0.14	0.56	1.56	(1.78)	3.70	(2.83)	10.38
AAPL34	1.17	(0.03)	0.00	0.12	0.00	0.00	2.78	(2.25)	9.45
BABA34	2.04	(0.11)	0.00	(0.13)	0.00	0.00	4.89	(3.49)	14.44
MSFT34	1.37	(0.34)	0.00	1.32	0.00	0.00	1.90	(3.82)	11.51
B1SA34	1.25	0.22	0.09	1.59	1.59	(1.57)	2.70	(2.38)	11.86
GOGL35	1.46	0.03	0.01	0.14	1.63	(1.66)	3.33	(3.02)	10.20
GOGL34	1.59	0.06	0.02	0.19	1.78	(1.73)	3.50	(2.87)	10.40
AMZO34	1.51	0.00	0.00	0.00	0.00	0.00	3.16	(3.37)	14.54
H1SB34	1.16	0.27	0.16	1.18	1.28	(1.28)	2.88	(2.24)	9.65
BERK34	0.87	0.00	0.00	0.05	0.00	0.00	1.96	(1.83)	6.40

Check Point Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Check Point stock to make a market-neutral strategy. Peer analysis of Check Point could also be used in its relative valuation, which is a method of valuing Check Point by comparing valuation metrics with similar companies.

Taiwan Semiconductor Manufacturing Apple Inc Alibaba Group Holding Microsoft Banco Santander Chile Alphabet Alphabet Amazon Inc HSBC Holdings plc Berkshire Hathaway American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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