Check Point Correlations

CHKP Stock

USD 180.91 4.66 2.64%

The current 90-days correlation between Check Point Software and VeriSign is 0.05 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Check Point Correlation With Market

Very good diversification

The correlation between Check Point Software and DJI is -0.4 (i.e., Very good 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.

Build AI portfolio with Check Stock

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 employment.

Moving together with Check Stock

0.74	S	SentinelOne	Pair Corr
0.73	ZS	Zscaler	Pair Corr
0.81	NOW	ServiceNow	Pair Corr
0.71	GTLB	Gitlab Inc	Pair Corr
0.77	MSFT	Microsoft	Pair Corr
0.68	APPN	Appian Corp Earnings Call This Week	Pair Corr
0.69	ASAN	Asana Inc	Pair Corr
0.69	JD	JD Inc Adr	Pair Corr
0.78	HNHPF	Hon Hai Precision	Pair Corr

Moving against Check Stock

0.72	SAR	Saratoga Investment Corp	Pair Corr
0.65	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.74	OBYCF	Obayashi Earnings Call This Week	Pair Corr
0.7	ENS	Enersys Earnings Call This Week	Pair Corr
0.68	YLLXF	Yellow Cake plc	Pair Corr
0.62	NFG	National Fuel Gas	Pair Corr
0.6	BNKHF	BOC Hong Kong	Pair Corr
0.6	RILYL	B Riley Financial	Pair Corr
0.59	SECVY	Seche Environnement	Pair Corr
0.55	FIBK	First Interstate Ban Normal Trading	Pair Corr
0.35	VLKPF	Volkswagen AG VZO	Pair Corr
0.31	SHPHF	Sihuan Pharmaceutical	Pair Corr
0.31	FCAP	First Capital Downward Rally	Pair Corr

Related Correlations Analysis

	VRSN	GDDY	CPAY	TOST	SSNC	CDW	FFIV	GEN	NTNX	IOT
VRSN		0.06	-0.13	0.14	0.2	-0.17	-0.29	0.12	0.0	0.1	VRSN
GDDY	0.06		-0.64	0.76	0.51	0.78	-0.73	0.74	0.73	0.86	GDDY
CPAY	-0.13	-0.64		-0.29	0.13	-0.43	0.76	-0.07	-0.71	-0.42	CPAY
TOST	0.14	0.76	-0.29		0.77	0.39	-0.35	0.78	0.66	0.74	TOST
SSNC	0.2	0.51	0.13	0.77		0.14	-0.04	0.81	0.16	0.61	SSNC
CDW	-0.17	0.78	-0.43	0.39	0.14		-0.57	0.52	0.47	0.7	CDW
FFIV	-0.29	-0.73	0.76	-0.35	-0.04	-0.57		-0.35	-0.65	-0.54	FFIV
GEN	0.12	0.74	-0.07	0.78	0.81	0.52	-0.35		0.36	0.8	GEN
NTNX	0.0	0.73	-0.71	0.66	0.16	0.47	-0.65	0.36		0.5	NTNX
IOT	0.1	0.86	-0.42	0.74	0.61	0.7	-0.54	0.8	0.5		IOT
	VRSN	GDDY	CPAY	TOST	SSNC	CDW	FFIV	GEN	NTNX	IOT

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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

IOT	+ 0.86	GDDY
GEN	+ 0.81	SSNC
IOT	+ 0.8	GEN
CDW	+ 0.78	GDDY
GEN	+ 0.78	TOST
SSNC	+ 0.77	TOST

High negative correlations

FFIV	- 0.73	GDDY
NTNX	- 0.71	CPAY
NTNX	- 0.65	FFIV
CPAY	- 0.64	GDDY
FFIV	- 0.57	CDW
IOT	- 0.54	FFIV

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
VRSN	1.06	(0.13)	0.00	(1.24)	0.00	0.00	2.35	(2.96)	6.57
GDDY	1.17	(0.55)	0.00	(0.77)	0.00	0.00	1.77	(3.48)	8.41
CPAY	1.87	0.38	0.22	0.40	1.44	(2.29)	4.46	(3.06)	11.04
TOST	2.21	(0.49)	0.00	(0.20)	0.00	0.00	3.96	(4.48)	19.86
SSNC	1.06	(0.19)	0.00	(0.15)	0.00	0.00	1.74	(2.13)	13.44
CDW	1.44	(0.21)	0.00	(0.08)	0.00	0.00	2.61	(3.34)	8.61
FFIV	1.43	0.08	0.05	0.15	1.44	(1.55)	3.75	(2.45)	11.43
GEN	1.28	(0.21)	0.00	(0.08)	0.00	0.00	2.26	(3.59)	9.21
NTNX	2.23	(0.87)	0.00	(1.01)	0.00	0.00	3.99	(5.66)	21.74
IOT	2.32	(0.68)	0.00	1.48	0.00	0.00	3.86	(5.85)	19.39

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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