Copart Inc Stock Market Value
| CPRT Stock | USD 52.88 0.32 0.60% |
| Symbol | Copart |
Copart Inc Price To Book Ratio
Is Copart's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Copart. If investors know Copart will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Copart listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.1 | Earnings Share 1.4 | Revenue Per Share 4.242 | Quarterly Revenue Growth 0.066 | Return On Assets 0.1465 |
The market value of Copart Inc is measured differently than its book value, which is the value of Copart that is recorded on the company's balance sheet. Investors also form their own opinion of Copart's value that differs from its market value or its book value, called intrinsic value, which is Copart's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Copart's market value can be influenced by many factors that don't directly affect Copart's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Copart's value and its price as these two are different measures arrived at by different means. Investors typically determine if Copart is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Copart's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Copart 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Copart's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Copart.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Copart on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Copart Inc or generate 0.0% return on investment in Copart over 30 days. Copart is related to or competes with Avalon Holdings, LanzaTech Global, Ambipar Emergency, BQE Water, BluMetric Environmental, and Agilyx AS. Copart, Inc. provides online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom,... More
Copart Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Copart's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Copart Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.23 | |||
| Information Ratio | 0.0809 | |||
| Maximum Drawdown | 6.83 | |||
| Value At Risk | (1.86) | |||
| Potential Upside | 1.92 |
Copart Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Copart's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Copart's standard deviation. In reality, there are many statistical measures that can use Copart historical prices to predict the future Copart's volatility.| Risk Adjusted Performance | 0.09 | |||
| Jensen Alpha | 0.0856 | |||
| Total Risk Alpha | 0.0418 | |||
| Sortino Ratio | 0.0796 | |||
| Treynor Ratio | 0.1296 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Copart's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Copart Inc Backtested Returns
We consider Copart very steady. Copart Inc secures Sharpe Ratio (or Efficiency) of 0.1, which signifies that the company had a 0.1% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Copart Inc, which you can use to evaluate the volatility of the firm. Please confirm Copart's Mean Deviation of 0.9252, downside deviation of 1.23, and Risk Adjusted Performance of 0.09 to double-check if the risk estimate we provide is consistent with the expected return of 0.12%. Copart has a performance score of 7 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.21, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Copart will likely underperform. Copart Inc right now shows a risk of 1.21%. Please confirm Copart Inc maximum drawdown, as well as the relationship between the skewness and day typical price , to decide if Copart Inc will be following its price patterns.
Auto-correlation | 0.36 |
Below average predictability
Copart Inc has below average predictability. Overlapping area represents the amount of predictability between Copart time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Copart Inc price movement. The serial correlation of 0.36 indicates that just about 36.0% of current Copart price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 1.17 |
Copart Inc lagged returns against current returns
Autocorrelation, which is Copart stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Copart's stock expected returns. We can calculate the autocorrelation of Copart returns to help us make a trade decision. For example, suppose you find that Copart has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Copart regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Copart stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Copart stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Copart stock over time.
Current vs Lagged Prices |
| Timeline |
Copart Lagged Returns
When evaluating Copart's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Copart stock have on its future price. Copart autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Copart autocorrelation shows the relationship between Copart stock current value and its past values and can show if there is a momentum factor associated with investing in Copart Inc.
Regressed Prices |
| Timeline |
Pair Trading with Copart
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Copart position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Copart will appreciate offsetting losses from the drop in the long position's value.Moving together with Copart Stock
| 0.78 | NL | NL Industries | PairCorr |
| 0.87 | WM | Waste Management Earnings Call This Week | PairCorr |
| 0.91 | VSEC | VSE Corporation Financial Report 6th of May 2024 | PairCorr |
Moving against Copart Stock
| 0.86 | CLVT | CLARIVATE PLC Financial Report 14th of May 2024 | PairCorr |
| 0.84 | LNZA | LanzaTech Global Financial Report 20th of May 2024 | PairCorr |
| 0.78 | AMBI | Ambipar Emergency Report 10th of May 2024 | PairCorr |
| 0.76 | ACCO | Acco Brands Financial Report 2nd of May 2024 | PairCorr |
| 0.73 | ARC | ARC Document Solutions Financial Report 1st of May 2024 | PairCorr |
The ability to find closely correlated positions to Copart could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Copart when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Copart - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Copart Inc to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Copart moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Copart Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Copart can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Copart Correlation, Copart Volatility and Copart Alpha and Beta module to complement your research on Copart. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Complementary Tools for Copart Stock analysis
When running Copart's price analysis, check to measure Copart's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Copart is operating at the current time. Most of Copart's value examination focuses on studying past and present price action to predict the probability of Copart's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Copart's price. Additionally, you may evaluate how the addition of Copart to your portfolios can decrease your overall portfolio volatility.
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Copart technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.