Check Point Correlations

CHKP Stock

USD 215.48 1.99 0.92%

The current 90-days correlation between Check Point Software and CyberArk Software is 0.47 (i.e., Very weak 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

Weak diversification

The correlation between Check Point Software and DJI is 0.34 (i.e., Weak 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 industry.

Moving together with Check Stock

0.65	VRAR	Glimpse Group	Pair Corr
0.62	EEFT	Euronet Worldwide	Pair Corr
0.63	FAAS	DigiAsia Corp	Pair Corr
0.61	FIVN	Five9 Inc	Pair Corr
0.68	FAASW	DigiAsia Corp	Pair Corr
0.67	BOX	Box Inc	Pair Corr
0.63	DOX	Amdocs	Pair Corr
0.66	ODD	ODDITY Tech	Pair Corr

Moving against Check Stock

0.58	EXOD	Exodus Movement, Tech Boost	Pair Corr
0.56	VERI	Veritone Tech Boost	Pair Corr
0.45	RXT	Rackspace Technology	Pair Corr
0.42	XBP	XBP Europe Holdings	Pair Corr

Related Correlations Analysis

	CYBR	FFIV	QLYS	VRSN	DOX	JNPR	NTAP	FTNT
CYBR		0.87	0.9	0.71	0.83	0.33	0.87	0.53	CYBR
FFIV	0.87		0.96	0.7	0.76	0.58	0.97	0.49	FFIV
QLYS	0.9	0.96		0.74	0.86	0.44	0.95	0.54	QLYS
VRSN	0.71	0.7	0.74		0.81	0.16	0.78	0.73	VRSN
DOX	0.83	0.76	0.86	0.81		0.19	0.82	0.57	DOX
JNPR	0.33	0.58	0.44	0.16	0.19		0.53	0.1	JNPR
NTAP	0.87	0.97	0.95	0.78	0.82	0.53		0.55	NTAP
FTNT	0.53	0.49	0.54	0.73	0.57	0.1	0.55		FTNT
	CYBR	FFIV	QLYS	VRSN	DOX	JNPR	NTAP	FTNT

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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
CYBR	1.48	0.07	0.03	0.22	1.78	(1.66)	3.49	(2.63)	12.71
FFIV	1.02	0.09	0.07	0.23	1.03	(1.15)	2.46	(1.81)	6.47
QLYS	1.28	0.05	0.03	0.17	1.51	(1.31)	3.16	(2.81)	8.67
VRSN	1.02	0.16	0.06	0.50	1.08	(1.07)	1.89	(1.80)	11.65
DOX	0.86	0.01	(0.03)	0.15	1.08	(0.85)	1.53	(1.59)	6.14
JNPR	0.69	0.17	0.03	(2.72)	0.70	(0.82)	1.74	(0.85)	5.02
NTAP	1.20	0.27	0.24	0.38	0.71	(1.42)	3.70	(1.64)	8.33
FTNT	1.60	0.04	0.00	0.18	2.37	(1.57)	3.38	(3.16)	12.25

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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