Correlation Between Macerich and Check Point
Can any of the company-specific risk be diversified away by investing in both Macerich and Check Point at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Macerich and Check Point into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Macerich Company and Check Point Software, you can compare the effects of market volatilities on Macerich and Check Point and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Macerich with a short position of Check Point. Check out your portfolio center. Please also check ongoing floating volatility patterns of Macerich and Check Point.
Diversification Opportunities for Macerich and Check Point
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Macerich and Check is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Macerich Company and Check Point Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Check Point Software and Macerich is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Macerich Company are associated (or correlated) with Check Point. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Check Point Software has no effect on the direction of Macerich i.e., Macerich and Check Point go up and down completely randomly.
Pair Corralation between Macerich and Check Point
Considering the 90-day investment horizon Macerich Company is expected to under-perform the Check Point. In addition to that, Macerich is 1.25 times more volatile than Check Point Software. It trades about -0.05 of its total potential returns per unit of risk. Check Point Software is currently generating about 0.02 per unit of volatility. If you would invest 19,309 in Check Point Software on September 5, 2025 and sell it today you would earn a total of 274.00 from holding Check Point Software or generate 1.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Macerich Company vs. Check Point Software
Performance |
| Timeline |
| Macerich |
| Check Point Software |
Macerich and Check Point Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Macerich and Check Point
The main advantage of trading using opposite Macerich and Check Point positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Macerich position performs unexpectedly, Check Point can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Check Point will offset losses from the drop in Check Point's long position.| Macerich vs. Check Point Software | Macerich vs. Rayonier Advanced Materials | Macerich vs. SoftwareONE Holding AG | Macerich vs. Magic Software Enterprises |
| Check Point vs. Greentown Management Holdings | Check Point vs. On4 Communications | Check Point vs. Wireless Xcessories Group | Check Point vs. Apollo Global Management |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Money Managers module to screen money managers from public funds and ETFs managed around the world.
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