Check Point Correlations

CPW Stock

EUR 149.30 5.05 3.27%

The current 90-days correlation between Check Point Software and FREEPORT MCMORAN is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Check Point moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Check Point Software moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Check Point Correlation With Market

Excellent diversification

The correlation between Check Point Software and DJI is -0.55 (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

0.75

ABL

Abbott Laboratories

Pair Corr

Moving against Check Stock

0.77	JMI	Deep Yellow Limited	Pair Corr
0.74	4I1	Philip Morris Intern	Pair Corr
0.74	XSI	Sanyo Chemical Industries	Pair Corr
0.71	XMF	STOMO MITSUI FINL	Pair Corr
0.7	SCL	Schlumberger Limited	Pair Corr
0.68	4OQ1	AGNC Investment Corp	Pair Corr
0.67	FPMB	FREEPORT MCMORAN	Pair Corr
0.66	8SF	SLIGRO FOOD GROUP	Pair Corr
0.57	DP4B	AP Mller	Pair Corr
0.53	EUX	EUWAX Aktiengesellschaft	Pair Corr
0.51	AMG	Amgen Inc	Pair Corr
0.51	SEH	SHIN ETSU CHEMICAL	Pair Corr
0.49	UUEC	United Utilities	Pair Corr
0.46	FTD	FINDE TUBIZE ACTNOUV	Pair Corr
0.36	MM2	Mercator Medical	Pair Corr
0.33	DBPE	Xtrackers LevDAX	Pair Corr
0.32	PX0	POLARX LTD	Pair Corr

Related Correlations Analysis

	ABL	AMD	4I1	AMG	HK2C	DP4B	FPMB
ABL		-0.16	-0.77	-0.42	0.3	-0.6	-0.66	ABL
AMD	-0.16		0.06	-0.14	0.54	-0.17	-0.14	AMD
4I1	-0.77	0.06		0.56	-0.15	0.6	0.74	4I1
AMG	-0.42	-0.14	0.56		0.08	-0.02	0.17	AMG
HK2C	0.3	0.54	-0.15	0.08		-0.64	-0.57	HK2C
DP4B	-0.6	-0.17	0.6	-0.02	-0.64		0.93	DP4B
FPMB	-0.66	-0.14	0.74	0.17	-0.57	0.93		FPMB
	ABL	AMD	4I1	AMG	HK2C	DP4B	FPMB

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

FPMB	+ 0.93	DP4B
FPMB	+ 0.74	4I1
DP4B	+ 0.6	4I1
AMG	+ 0.56	4I1
HK2C	+ 0.54	AMD
HK2C	+ 0.3	ABL

High negative correlations

4I1	- 0.77	ABL
FPMB	- 0.66	ABL
DP4B	- 0.64	HK2C
DP4B	- 0.6	ABL
FPMB	- 0.57	HK2C
AMG	- 0.42	ABL

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
ABL	1.06	(0.16)	0.00	1.39	0.00	0.00	1.91	(2.11)	14.56
AMD	2.97	(0.33)	0.00	(0.34)	0.00	0.00	6.33	(5.75)	24.55
4I1	1.14	0.30	0.14	2.39	1.18	(1.26)	2.89	(2.55)	7.67
AMG	1.50	0.13	0.04	0.41	1.69	(1.54)	3.98	(2.96)	10.69
HK2C	0.53	(0.11)	0.00	(0.37)	0.00	0.00	1.49	(1.47)	5.73
DP4B	0.81	0.16	0.03	(3.23)	1.00	(1.33)	2.57	(1.82)	7.59
FPMB	1.19	0.39	0.12	6.24	1.18	(1.91)	3.93	(2.44)	9.65

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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