Check Point Correlations

Stocks Brazil . 
Stock . Check Point Software
C1HK34 Stock   587.54  0.00  0.00%   
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.

Check Point Correlation With Market

Good diversification

The correlation between Check Point Software and DJI is -0.04 (i.e., 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.
  
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

  0.7TSMC34 Taiwan SemiconductorPairCorr
  0.9AAPL34 Apple IncPairCorr
  0.86MSFT34 MicrosoftPairCorr
  0.92GOGL35 AlphabetPairCorr
  0.9GOGL34 AlphabetPairCorr
  0.9AMZO34 Amazon IncPairCorr
  0.89H1SB34 HSBC Holdings plcPairCorr
  0.75BERK34 Berkshire HathawayPairCorr

Moving against Check Stock

  0.66BABA34 Alibaba Group HoldingPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
CHCM34
+ 0.93
P1YC34
U2ST34
+ 0.85
HOME34
CHCM34
+ 0.77
HOME34
P1YC34
+ 0.75
HOME34
U2ST34
+ 0.66
P1YC34
U2ST34
+ 0.61
CHCM34
  
High negative correlations   
U2ST34
- 0.69
FIQE3
FIQE3
- 0.56
P1YC34
FIQE3
- 0.55
HOME34
CHCM34
- 0.38
FIQE3
FIQE3
- 0.28
CTSH34

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.

Check Point Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Check Point stock to make a market-neutral strategy. Peer analysis of Check Point could also be used in its relative valuation, which is a method of valuing Check Point by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY