CHKP vs ZS: Correlation
Check Point Software Technologies Ltd. (CHKP) and Zscaler, Inc. (ZS) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHKP and ZS?
Over the past 3 years, CHKP and ZS moved with a correlation of 0.42, which is moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.42 over 3. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 551.3 %².
By 3-year correlation, ZS places #4 of the 12 assets tracked against CHKP. Twelve-month performance is nearly a tie, at -30.1% for CHKP and -31.4% for ZS. Risk is not evenly split, since ZS carries 1.6 times the volatility of the other side.
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 ZS: side by side
| CHKP (Check Point Software Technologies Ltd.) | ZS (Zscaler, Inc.) | |
|---|---|---|
| 1-year return | -30.1% | -31.4% |
| 5-year return | +5.2% | -32.7% |
| Volatility (ann.) | 29.0% | 45.7% |
| Beta vs S&P 500 | 0.41 | 1.47 |
| Max drawdown (3Y) | -51.8% | -64.9% |
| Market cap | $13.6B | $30.3B |
| P/E (trailing) | 13.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHKP | ZS |
|---|---|---|
| 2022 | +8.2% | -65.2% |
| 2023 | +21.1% | +98.0% |
| 2024 | +22.2% | -18.6% |
| 2025 | -0.6% | +24.7% |
| 2026 | -28.2% | -16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHKP and ZS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CHKP and ZS?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.45 over the last year and 0.36 over 5 years.
Is ZS a good diversifier for CHKP?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chkp-vs-zs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/chkp-vs-zs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHKP correlations · ZS correlations
