Copart Correlations

CPRT Stock

USD 38.53 0.76 2.01%

The current 90-days correlation between Copart Inc and Las Vegas Sands is -0.05 (i.e., Good 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

Average diversification

The correlation between Copart Inc and DJI is 0.16 (i.e., Average 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.

Build AI portfolio with Copart Stock

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 population.

Moving against Copart Stock

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0.83	DCM	Data Communications	Pair Corr
0.83	NAUFF	NevGold Corp	Pair Corr
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0.8	SYF	Synchrony Financial	Pair Corr
0.64	SMXWW	SMX Public Limited	Pair Corr
0.59	CGY	Calian Technologies	Pair Corr
0.57	UNF	Unifirst Earnings Call This Week	Pair Corr
0.5	BNXAF	Banxa Holdings Tech Boost	Pair Corr
0.4	CTOWY	China TowerLimited	Pair Corr
0.9	ARVN	Arvinas	Pair Corr
0.89	FTV	Fortive Corp	Pair Corr
0.84	CASXF	Casa Minerals	Pair Corr
0.83	TMSNY	Temenos Group AG	Pair Corr
0.83	PLTK	Playtika Holding Corp	Pair Corr
0.81	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.78	694308HY6	US694308HY69	Pair Corr
0.74	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.69	MGCV	MGC Ventures	Pair Corr
0.68	DGWPF	Drgerwerk AG	Pair Corr
0.65	BROS	Dutch Bros	Pair Corr
0.65	DB	Deutsche Bank AG	Pair Corr
0.49	MEOAF	Melbana Energy	Pair Corr
0.45	FQVLF	First Quantum Minerals	Pair Corr
0.36	EDRVY	EDP Renovveis SA	Pair Corr

Related Correlations Analysis

	LVS	CMG	YUM	DHI	EBAY	F	CCL	TCOM	FLUT
LVS		-0.72	0.51	-0.38	-0.67	0.87	-0.27	0.08	-0.81	LVS
CMG	-0.72		-0.13	0.55	0.81	-0.52	0.64	0.13	0.78	CMG
YUM	0.51	-0.13		-0.03	-0.37	0.44	0.17	0.24	-0.4	YUM
DHI	-0.38	0.55	-0.03		0.37	-0.26	0.06	0.02	0.52	DHI
EBAY	-0.67	0.81	-0.37	0.37		-0.4	0.47	0.28	0.77	EBAY
F	0.87	-0.52	0.44	-0.26	-0.4		-0.04	0.23	-0.58	F
CCL	-0.27	0.64	0.17	0.06	0.47	-0.04		0.43	0.51	CCL
TCOM	0.08	0.13	0.24	0.02	0.28	0.23	0.43		0.18	TCOM
FLUT	-0.81	0.78	-0.4	0.52	0.77	-0.58	0.51	0.18		FLUT
	LVS	CMG	YUM	DHI	EBAY	F	CCL	TCOM	FLUT

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

F	+ 0.87	LVS
EBAY	+ 0.81	CMG
FLUT	+ 0.78	CMG
FLUT	+ 0.77	EBAY
CCL	+ 0.64	CMG
DHI	+ 0.55	CMG

High negative correlations

FLUT	- 0.81	LVS
CMG	- 0.72	LVS
EBAY	- 0.67	LVS
FLUT	- 0.58	F
F	- 0.52	CMG
F	- 0.4	EBAY

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
LVS	1.63	0.25	0.09	0.61	1.94	(1.95)	3.39	(2.64)	14.76
CMG	1.70	(0.09)	(0.02)	0.01	3.51	(1.77)	3.76	(2.62)	21.88
YUM	1.06	(0.05)	0.00	(0.06)	0.00	0.00	2.50	(1.79)	9.12
DHI	1.45	(0.34)	0.00	(0.16)	0.00	0.00	3.96	(3.56)	10.74
EBAY	1.46	(0.01)	0.00	0.06	3.15	(1.39)	3.65	(2.90)	20.15
F	1.45	0.07	0.05	0.12	1.67	(1.58)	3.38	(2.63)	16.30
CCL	1.93	0.06	0.04	0.11	2.54	(1.95)	3.88	(3.65)	12.90
TCOM	1.05	(0.05)	(0.04)	0.01	1.53	(0.98)	2.19	(2.63)	8.40
FLUT	1.65	(0.30)	0.00	(0.10)	0.00	0.00	3.06	(3.69)	17.69

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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