Copart (Brazil) Market Value
| C1PR34 Stock | BRL 187.50 21.90 13.22% |
| Symbol | Copart |
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.
| 06/05/2024 |
| 12/02/2024 |
If you would invest 0.00 in Copart on June 5, 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 180 days. Copart is related to or competes with TAL Education, United Airlines, Verizon Communications, Ross Stores, GP Investments, Planet Fitness, and Extra Space. 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.
| Information Ratio | 0.1245 | |||
| Maximum Drawdown | 13.22 | |||
| Value At Risk | (0.83) | |||
| Potential Upside | 4.14 |
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 | 0.1511 | |||
| Jensen Alpha | 0.3884 | |||
| Total Risk Alpha | 0.0375 | |||
| Treynor Ratio | 13.8 |
Copart Inc Backtested Returns
Copart appears to be very steady, given 3 months investment horizon. Copart Inc secures Sharpe Ratio (or Efficiency) of 0.19, which signifies that the company had a 0.19% return per unit of risk over the last 3 months. We have found twenty-one technical indicators for Copart Inc, which you can use to evaluate the volatility of the firm. Please makes use of Copart's Mean Deviation of 0.9806, standard deviation of 2.12, and Risk Adjusted Performance of 0.1511 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Copart holds a performance score of 15. The firm shows a Beta (market volatility) of 0.0284, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Copart's returns are expected to increase less than the market. However, during the bear market, the loss of holding Copart is expected to be smaller as well. Please check Copart's information ratio, total risk alpha, potential upside, as well as the relationship between the jensen alpha and treynor ratio , to make a quick decision on whether Copart's price patterns will revert.
Auto-correlation | -0.23 |
Weak reverse predictability
Copart Inc has weak reverse predictability. Overlapping area represents the amount of predictability between Copart time series from 5th of June 2024 to 3rd of September 2024 and 3rd of September 2024 to 2nd of December 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 -0.23 indicates that over 23.0% of current Copart price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.23 | |
| Spearman Rank Test | 0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 129.26 |
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 |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Information and Resources on Investing in Copart Stock
When determining whether Copart Inc is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Copart Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Copart Inc Stock. Highlighted below are key reports to facilitate an investment decision about Copart Inc Stock:Check out Copart Correlation, Copart Volatility and Copart Alpha and Beta module to complement your research on Copart. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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.