Copart Correlations

CPRT Stock

USD 45.98 0.09 0.20%

The current 90-days correlation between Copart Inc and ANSYS Inc is -0.02 (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.

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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

0.75	VIRC	Virco Manufacturing	Pair Corr
0.69	GP	GreenPower Motor	Pair Corr
0.83	NL	NL Industries	Pair Corr
0.79	PC	Premium Catering	Pair Corr

Moving against Copart Stock

0.76	KAR	KAR Auction Services	Pair Corr
0.71	BE	Bloom Energy Corp	Pair Corr
0.69	CW	Curtiss Wright	Pair Corr
0.67	AZ	A2Z Smart Technologies	Pair Corr
0.63	MLKN	MillerKnoll	Pair Corr
0.62	AP	Ampco Pittsburgh	Pair Corr
0.62	BW	Babcock Wilcox Enter	Pair Corr
0.57	DIST	Distoken Acquisition	Pair Corr
0.54	J	Jacobs Solutions	Pair Corr
0.52	R	Ryder System Earnings Call This Week	Pair Corr
0.51	CP	Canadian Pacific Railway Earnings Call Next Week	Pair Corr
0.49	CMPR	Cimpress NV	Pair Corr
0.49	CR	Crane Company Earnings Call Next Week	Pair Corr
0.45	BLMZ	BloomZ Ordinary Shares	Pair Corr
0.45	BA	Boeing	Pair Corr
0.45	BZ	Kanzhun Ltd ADR	Pair Corr
0.43	DE	Deere Company	Pair Corr
0.42	AL	Air Lease	Pair Corr
0.72	PL	Planet Labs PBC	Pair Corr
0.71	DY	Dycom Industries	Pair Corr
0.65	GD	General Dynamics Earnings Call This Week	Pair Corr
0.65	SB	Safe Bulkers Earnings Call This Week	Pair Corr
0.61	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.59	OP	Oceanpal	Pair Corr
0.54	TG	Tredegar	Pair Corr
0.51	KE	Kimball Electronics	Pair Corr
0.47	TH	Target Hospitality Corp	Pair Corr
0.46	IR	Ingersoll Rand	Pair Corr
0.46	PH	Parker Hannifin	Pair Corr

Related Correlations Analysis

	AN	ANSS	CDW	CTAS	GPN	KMX	LAD	ODFL	VRSK
AN		0.71	0.44	0.34	0.64	0.38	0.93	0.57	0.28	AN
ANSS	0.71		0.28	0.19	0.48	-0.13	0.58	0.44	0.13	ANSS
CDW	0.44	0.28		0.55	0.41	0.3	0.59	0.87	0.73	CDW
CTAS	0.34	0.19	0.55		0.25	0.02	0.45	0.37	0.8	CTAS
GPN	0.64	0.48	0.41	0.25		0.48	0.55	0.43	0.1	GPN
KMX	0.38	-0.13	0.3	0.02	0.48		0.49	0.35	0.16	KMX
LAD	0.93	0.58	0.59	0.45	0.55	0.49		0.67	0.49	LAD
ODFL	0.57	0.44	0.87	0.37	0.43	0.35	0.67		0.53	ODFL
VRSK	0.28	0.13	0.73	0.8	0.1	0.16	0.49	0.53		VRSK
	AN	ANSS	CDW	CTAS	GPN	KMX	LAD	ODFL	VRSK

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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

LAD	+ 0.93	AN
ODFL	+ 0.87	CDW
VRSK	+ 0.8	CTAS
VRSK	+ 0.73	CDW
ANSS	+ 0.71	AN
ODFL	+ 0.67	LAD

High negative correlations

KMX

- 0.13

ANSS

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
AN	1.20	0.32	0.11	(1.75)	1.24	(1.40)	2.69	(1.93)	9.19
ANSS	1.04	0.23	0.13	0.36	1.31	(1.17)	2.82	(1.25)	8.76
CDW	1.35	0.10	0.10	0.21	1.13	(1.65)	2.72	(2.48)	10.41
CTAS	0.79	0.19	0.03	(0.70)	0.88	(0.90)	1.72	(1.34)	6.57
GPN	1.44	0.38	0.10	(0.71)	1.61	(1.61)	3.28	(2.37)	10.85
KMX	1.50	0.04	(0.06)	(0.13)	1.73	(1.85)	4.36	(2.59)	10.48
LAD	1.48	0.20	0.01	(0.33)	2.31	(1.41)	4.08	(4.17)	12.40
ODFL	1.75	(0.13)	(0.02)	0.05	2.17	(1.91)	3.79	(3.27)	15.17
VRSK	0.89	(0.03)	(0.08)	0.07	1.15	(1.03)	1.70	(1.89)	8.38

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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