Check Point Correlations

CPW Stock

EUR 160.30 1.10 0.68%

The current 90-days correlation between Check Point Software and Heidelberg Materials AG is -0.15 (i.e., Good 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

Average diversification

The correlation between Check Point Software and DJI is 0.15 (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.

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

0.53	SID	State Bank	Pair Corr
0.5	SUMB	SUMITOMO P SP	Pair Corr
0.46	OIXA	Orix Corp Ads	Pair Corr
0.43	APC	Apple Inc	Pair Corr
0.42	LLD2	Lloyds Banking Group	Pair Corr
0.4	APC	Apple Inc	Pair Corr
0.4	APC	Apple Inc	Pair Corr
0.4	APC	Apple Inc	Pair Corr
0.34	W8V	Bank of China	Pair Corr
0.33	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	APC	APC	94P	2DG	MEL	HEI	N4Q1	P5IB	8J4
APC		0.98	0.66	-0.09	-0.44	0.77	-0.35	0.52	-0.2	APC
APC	0.98		0.66	-0.13	-0.43	0.75	-0.28	0.52	-0.21	APC
94P	0.66	0.66		0.02	-0.04	0.62	-0.46	0.47	-0.11	94P
2DG	-0.09	-0.13	0.02		0.09	0.05	-0.4	-0.03	0.19	2DG
MEL	-0.44	-0.43	-0.04	0.09		-0.15	-0.01	-0.3	0.01	MEL
HEI	0.77	0.75	0.62	0.05	-0.15		-0.48	0.2	-0.12	HEI
N4Q1	-0.35	-0.28	-0.46	-0.4	-0.01	-0.48		-0.24	-0.02	N4Q1
P5IB	0.52	0.52	0.47	-0.03	-0.3	0.2	-0.24		-0.11	P5IB
8J4	-0.2	-0.21	-0.11	0.19	0.01	-0.12	-0.02	-0.11		8J4
	APC	APC	94P	2DG	MEL	HEI	N4Q1	P5IB	8J4

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

APC	+ 0.98	APC
HEI	+ 0.77	APC
HEI	+ 0.75	APC
94P	+ 0.66	APC
94P	+ 0.66	APC
HEI	+ 0.62	94P

High negative correlations

N4Q1	- 0.48	HEI
N4Q1	- 0.46	94P
MEL	- 0.44	APC
MEL	- 0.43	APC
N4Q1	- 0.4	2DG
N4Q1	- 0.35	APC

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
APC	1.00	0.08	0.04	0.47	0.94	(1.28)	2.08	(1.72)	9.68
APC	1.08	0.11	0.03	(1.31)	1.24	(1.22)	1.86	(2.29)	9.13
94P	1.99	0.13	0.05	0.21	2.38	(2.12)	4.65	(3.49)	14.39
2DG	2.88	(0.08)	0.00	(0.05)	0.00	0.00	9.38	(5.88)	23.03
MEL	1.05	(0.02)	(0.05)	(0.03)	1.23	(1.24)	2.65	(2.12)	5.86
HEI	1.44	0.09	0.05	0.18	1.51	(1.68)	3.59	(2.70)	9.96
N4Q1	1.23	(0.06)	0.00	0.42	0.00	0.00	2.33	(3.12)	12.36
P5IB	4.29	(0.42)	0.00	(0.42)	0.00	0.00	10.71	(8.33)	40.30
8J4	3.01	0.56	0.00	0.23	0.00	0.00	0.00	0.00	150.00

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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