Check Point Correlations

CHKP Stock

USD 187.87 1.10 0.59%

The current 90-days correlation between Check Point Software and Okta Inc is 0.22 (i.e., Modest 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

Average diversification

The correlation between Check Point Software and DJI is 0.19 (i.e., Average 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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Check Point Software. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Check Stock

0.77	VHAI	VHAI	Pair Corr
0.67	FAAS	DigiAsia Corp Symbol Change	Pair Corr

Moving against Check Stock

0.53	NN	Nextnav Acquisition Corp	Pair Corr
0.48	FLYW	Flywire Corp Sell-off Trend	Pair Corr
0.34	CETXP	Cemtrex Pref	Pair Corr
0.33	FIVN	Five9 Inc	Pair Corr
0.48	ZUO	Zuora Inc	Pair Corr
0.35	GEN	Gen Digital	Pair Corr
0.31	GDDY	Godaddy	Pair Corr

Related Correlations Analysis

	RPD	TENB	OKTA	WIX	FLT	AKAM	VRSN	QLYS	SPSC	FFIV
RPD		0.56	0.07	0.22	0.44	-0.04	-0.28	0.65	0.24	0.24	RPD
TENB	0.56		0.03	-0.03	0.26	0.27	-0.3	0.42	0.63	-0.08	TENB
OKTA	0.07	0.03		0.8	-0.12	-0.26	0.8	0.44	0.48	0.8	OKTA
WIX	0.22	-0.03	0.8		0.02	-0.5	0.72	0.55	0.38	0.88	WIX
FLT	0.44	0.26	-0.12	0.02		-0.25	-0.45	0.61	-0.07	0.24	FLT
AKAM	-0.04	0.27	-0.26	-0.5	-0.25		-0.23	-0.46	0.16	-0.55	AKAM
VRSN	-0.28	-0.3	0.8	0.72	-0.45	-0.23		0.11	0.31	0.64	VRSN
QLYS	0.65	0.42	0.44	0.55	0.61	-0.46	0.11		0.41	0.65	QLYS
SPSC	0.24	0.63	0.48	0.38	-0.07	0.16	0.31	0.41		0.18	SPSC
FFIV	0.24	-0.08	0.8	0.88	0.24	-0.55	0.64	0.65	0.18		FFIV
	RPD	TENB	OKTA	WIX	FLT	AKAM	VRSN	QLYS	SPSC	FFIV

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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

FFIV	+ 0.88	WIX
WIX	+ 0.8	OKTA
VRSN	+ 0.8	OKTA
FFIV	+ 0.8	OKTA
VRSN	+ 0.72	WIX
QLYS	+ 0.65	RPD

High negative correlations

FFIV	- 0.55	AKAM
AKAM	- 0.5	WIX
QLYS	- 0.46	AKAM
VRSN	- 0.45	FLT
VRSN	- 0.3	TENB
VRSN	- 0.28	RPD

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
RPD	1.33	(0.03)	0.00	(0.10)	0.00	0.00	3.74	(2.21)	9.51
TENB	1.44	0.03	0.01	0.04	1.96	(1.36)	2.83	(3.02)	11.40
OKTA	1.50	0.16	0.09	0.98	1.76	(1.58)	3.43	(3.01)	10.08
WIX	2.13	0.59	0.33	0.51	1.50	(2.75)	4.38	(2.75)	17.85
FLT	1.09	(0.04)	0.00	1.06	0.00	0.00	1.95	(1.95)	9.73
AKAM	1.30	(0.19)	0.00	(0.79)	0.00	0.00	2.00	(2.60)	18.11
VRSN	1.09	0.17	0.15	1.00	1.00	(1.29)	2.84	(2.17)	7.04
QLYS	1.65	0.17	0.11	0.22	1.41	(2.26)	2.91	(2.93)	27.57
SPSC	1.42	(0.04)	0.00	(0.09)	0.00	0.00	2.80	(2.81)	11.38
FFIV	0.99	0.26	0.22	0.82	0.93	(1.06)	1.75	(1.75)	13.06

Check Point Corporate Management

Sundar Balasubramanian	Managing Region	Profile
Shashi Kiran	Chief Officer	Profile
Peter Alexander	Chief Officer	Profile
Tal Payne	Chief Officer	Profile
Alex Spokoiny	Chief Officer	Profile
Manish Alshi	Head India	Profile

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