Copart Correlations

CPRT Stock

USD 55.23 1.04 1.85%

The current 90-days correlation between Copart Inc and Global Payments is 0.33 (i.e., Weak diversification). The correlation of Copart 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.

Copart Correlation With Market

Very weak diversification

The correlation between Copart Inc and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Copart Inc 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 Copart Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Copart Stock

0.76	HNI	HNI Corp	Pair Corr
0.77	ACCO	Acco Brands	Pair Corr
0.66	AL	Air Lease	Pair Corr
0.64	BV	BrightView Holdings	Pair Corr
0.61	CR	Crane Company	Pair Corr
0.76	FA	First Advantage Corp	Pair Corr
0.71	HY	Hyster Yale Materials	Pair Corr
0.72	IR	Ingersoll Rand	Pair Corr
0.74	OC	Owens Corning	Pair Corr
0.61	PH	Parker Hannifin	Pair Corr

Moving against Copart Stock

0.38	BA	Boeing	Pair Corr
0.35	AP	Ampco Pittsburgh	Pair Corr
0.64	RR	Richtech Robotics Class	Pair Corr
0.49	VACH	Voyager Acquisition Corp	Pair Corr
0.35	TH	Target Hospitality Corp	Pair Corr

Related Correlations Analysis

	GPN	ABM	TRI	ARMK	GPI	SAH	ABG	AN	PAG
GPN		0.58	-0.38	0.7	-0.6	-0.32	-0.3	-0.41	-0.08	GPN
ABM	0.58		0.17	0.79	-0.1	0.18	0.14	0.03	0.52	ABM
TRI	-0.38	0.17		-0.13	0.7	0.69	0.77	0.62	0.68	TRI
ARMK	0.7	0.79	-0.13		-0.17	0.03	-0.01	0.0	0.37	ARMK
GPI	-0.6	-0.1	0.7	-0.17		0.88	0.86	0.95	0.7	GPI
SAH	-0.32	0.18	0.69	0.03	0.88		0.89	0.92	0.76	SAH
ABG	-0.3	0.14	0.77	-0.01	0.86	0.89		0.88	0.82	ABG
AN	-0.41	0.03	0.62	0.0	0.95	0.92	0.88		0.73	AN
PAG	-0.08	0.52	0.68	0.37	0.7	0.76	0.82	0.73		PAG
	GPN	ABM	TRI	ARMK	GPI	SAH	ABG	AN	PAG

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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

AN	+ 0.95	GPI
AN	+ 0.92	SAH
ABG	+ 0.89	SAH
SAH	+ 0.88	GPI
AN	+ 0.88	ABG
ABG	+ 0.86	GPI

High negative correlations

GPI	- 0.6	GPN
AN	- 0.41	GPN
TRI	- 0.38	GPN
SAH	- 0.32	GPN
ABG	- 0.3	GPN
GPI	- 0.17	ARMK

Risk-Adjusted Indicators

There is a big difference between Copart Stock performing well and Copart 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 Copart'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
GPN	1.04	(0.18)	0.00	(0.32)	0.00	0.00	1.63	(2.32)	6.81
ABM	1.02	(0.01)	0.00	0.03	0.00	0.00	1.66	(2.42)	9.85
TRI	0.85	0.15	0.16	0.33	0.83	(1.03)	2.10	(1.36)	7.46
ARMK	1.20	(0.02)	0.00	(0.04)	0.00	0.00	2.76	(2.52)	7.74
GPI	1.07	0.22	0.15	0.20	1.07	(1.07)	2.78	(1.86)	6.74
SAH	1.41	0.15	0.09	(0.94)	1.69	(1.52)	2.86	(2.68)	10.49
ABG	1.46	0.15	0.08	0.10	1.52	(1.55)	3.07	(3.00)	15.39
AN	1.12	0.16	0.12	0.13	1.27	(1.21)	2.67	(1.82)	8.25
PAG	1.20	0.10	0.08	0.08	1.14	(1.42)	2.34	(1.69)	9.42

Copart Corporate Management

Nigel Paget	Managing UK	Profile
Leah Stearns	Chief Officer	Profile
Gavin Renfrew	Interim Officer	Profile
Steve Powers	Chief Officer	Profile
David Kang	Chief Officer	Profile
Adiel Avelar	Managing Brazil	Profile

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