CHKP vs PANW: Correlation
How closely do Check Point Software Technologies Ltd. (CHKP) and Palo Alto Networks (PANW) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHKP and PANW?
On 3 years of weekly data the CHKP/PANW correlation comes out at 0.44, moderate. The link has tightened recently: the 1-year correlation (0.58) runs above the 3-year figure (0.44). The 5-year figure is 0.43, and annualized covariance runs at 533.5 %².
In CHKP's tracked universe of 12 assets, PANW sits right near the top at #2. The last year tells two different stories: PANW led by 134.2 percentage points, -30.1% for CHKP against +104.1% for PANW.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CHKP vs PANW: side by side
| CHKP (Check Point Software Technologies Ltd.) | PANW (Palo Alto Networks) | |
|---|---|---|
| 1-year return | -30.1% | +104.1% |
| 5-year return | +5.2% | +400.7% |
| Volatility (ann.) | 29.0% | 42.0% |
| Beta vs S&P 500 | 0.41 | 1.32 |
| Max drawdown (3Y) | -51.8% | -36.0% |
| Market cap | $13.6B | $312.0B |
| P/E (trailing) | 13.2 | 294.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | CHKP | PANW |
|---|---|---|
| 2022 | +8.2% | -24.8% |
| 2023 | +21.1% | +111.3% |
| 2024 | +22.2% | +23.4% |
| 2025 | -0.6% | +1.2% |
| 2026 | -28.2% | +107.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHKP and PANW good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CHKP and PANW?
As of 2026-08-27, the correlation of weekly returns between CHKP and PANW is 0.44 over 3 years, 0.58 over 1 year and 0.43 over 5 years.
Is PANW a good diversifier for CHKP?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chkp-vs-panw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chkp-vs-panw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHKP correlations · PANW correlations
