@sparikh,
You can use the tooltip hide() method within the dataSeries mouseout function to hide the tooltip when the mouse is moved away from the dataPoint. Please find the code snippet for the same below.
function onMouseout(e){
e.chart.toolTip.hide();
}
Kindly take a look at this JSFiddle for a working example.
—
Thangaraj Raman
Team CanvasJS