Check Point Correlations

CHKP Stock

USD 230.33 2.28 1.00%

The current 90-days correlation between Check Point Software and Okta Inc is 0.2 (i.e., Modest 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 weak diversification

The correlation between Check Point Software and DJI is 0.5 (i.e., Very 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.

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

0.66	BB	BlackBerry Earnings Call This Week	Pair Corr
0.78	JG	Aurora Mobile	Pair Corr
0.74	ZS	Zscaler	Pair Corr
0.91	VRSN	VeriSign	Pair Corr
0.62	FFIV	F5 Networks	Pair Corr
0.86	DOX	Amdocs	Pair Corr
0.78	HCP	Hashicorp	Pair Corr
0.61	PGY	Pagaya Technologies Buyout Trend	Pair Corr

Moving against Check Stock

0.74	FMTO	Femto Technologies Symbol Change	Pair Corr
0.73	VRAR	Glimpse Group	Pair Corr
0.72	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.69	VRNS	Varonis Systems	Pair Corr
0.67	VRNT	Verint Systems Earnings Call Today	Pair Corr
0.67	FLYW	Flywire Corp	Pair Corr
0.66	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.66	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.55	EVCM	EverCommerce	Pair Corr
0.51	FIVN	Five9 Inc	Pair Corr
0.4	S	SentinelOne	Pair Corr
0.31	FOUR	Shift4 Payments	Pair Corr
0.83	SOS	SOS Limited	Pair Corr
0.8	RPD	Rapid7 Inc	Pair Corr
0.78	TDC	Teradata Corp	Pair Corr
0.71	XYZ	Block, Inc Symbol Change	Pair Corr
0.67	WEX	Wex Inc	Pair Corr
0.65	PAY	Paymentus Holdings Potential Growth	Pair Corr
0.62	WIX	WixCom	Pair Corr
0.6	TLS	Telos Corp	Pair Corr
0.55	GDDY	Godaddy	Pair Corr
0.45	GCT	GigaCloud Technology	Pair Corr
0.39	DBX	Dropbox	Pair Corr

Related Correlations Analysis

	RPD	TENB	OKTA	WIX	FLT	AKAM	VRSN	QLYS	SPSC	FFIV
RPD		0.78	-0.78	0.88	0.0	0.81	-0.91	0.78	0.96	-0.18	RPD
TENB	0.78		-0.52	0.86	0.0	0.76	-0.67	0.83	0.82	0.14	TENB
OKTA	-0.78	-0.52		-0.7	0.0	-0.44	0.82	-0.57	-0.76	0.29	OKTA
WIX	0.88	0.86	-0.7		0.0	0.79	-0.73	0.79	0.85	0.12	WIX
FLT	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	FLT
AKAM	0.81	0.76	-0.44	0.79	0.0		-0.63	0.83	0.73	0.21	AKAM
VRSN	-0.91	-0.67	0.82	-0.73	0.0	-0.63		-0.66	-0.94	0.46	VRSN
QLYS	0.78	0.83	-0.57	0.79	0.0	0.83	-0.66		0.75	0.17	QLYS
SPSC	0.96	0.82	-0.76	0.85	0.0	0.73	-0.94	0.75		-0.29	SPSC
FFIV	-0.18	0.14	0.29	0.12	0.0	0.21	0.46	0.17	-0.29		FFIV
	RPD	TENB	OKTA	WIX	FLT	AKAM	VRSN	QLYS	SPSC	FFIV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

SPSC	+ 0.96	RPD
WIX	+ 0.88	RPD
WIX	+ 0.86	TENB
SPSC	+ 0.85	WIX
QLYS	+ 0.83	TENB
QLYS	+ 0.83	AKAM

High negative correlations

SPSC	- 0.94	VRSN
VRSN	- 0.91	RPD
OKTA	- 0.78	RPD
SPSC	- 0.76	OKTA
VRSN	- 0.73	WIX
WIX	- 0.7	OKTA

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
RPD	1.64	(0.37)	0.00	(0.43)	0.00	0.00	3.90	(3.85)	9.26
TENB	1.57	(0.19)	0.00	(0.25)	0.00	0.00	2.92	(3.22)	12.88
OKTA	2.13	0.56	0.24	0.73	1.98	(2.45)	4.48	(3.96)	30.71
WIX	1.93	(0.27)	0.00	(0.24)	0.00	0.00	3.21	(5.33)	13.93
FLT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AKAM	1.70	(0.13)	0.00	(0.11)	0.00	0.00	2.63	(3.85)	25.79
VRSN	0.74	0.36	0.37	0.76	0.49	(0.84)	2.18	(1.30)	4.96
QLYS	1.43	(0.14)	0.00	(0.19)	0.00	0.00	2.64	(3.60)	7.24
SPSC	1.58	(0.53)	0.00	(0.68)	0.00	0.00	2.35	(3.40)	16.60
FFIV	1.27	0.11	0.06	0.07	1.60	(1.27)	2.10	(3.00)	14.71

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

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