CPRT vs PAPL: Correlation
Measured on weekly returns over the past three years, Copart (CPRT) and Pineapple Financial Inc. (PAPL) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPRT and PAPL?
Across a 3-year window, the weekly returns of CPRT and PAPL correlate at -0.28, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.05) runs above the 3-year figure (-0.28). Stretching to 5 years gives n/a, with an annualized covariance of -1299.2 %².
PAPL is close to the least connected end of CPRT's tracked universe, ranking #32 of 35. The last year tells two different stories: CPRT led by 38.1 percentage points, -32.6% for CPRT against -70.7% for PAPL. Note the risk asymmetry: PAPL runs 7.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CPRT vs PAPL: side by side
| CPRT (Copart) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | -32.6% | -70.7% |
| 5-year return | -9.3% | n/a |
| Volatility (ann.) | 26.0% | 181.2% |
| Beta vs S&P 500 | 0.86 | -0.73 |
| Max drawdown (3Y) | -57.4% | -99.4% |
| Market cap | $30.3B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CPRT | PAPL |
|---|---|---|
| 2022 | -19.7% | – |
| 2023 | +60.9% | – |
| 2024 | +17.1% | -74.7% |
| 2025 | -31.8% | -84.4% |
| 2026 | -16.3% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPRT and PAPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between CPRT and PAPL?
As of 2026-08-27, the correlation of weekly returns between CPRT and PAPL is -0.28 over 3 years, 0.05 over 1 year and n/a over 5 years.
Is PAPL a good diversifier for CPRT?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CPRT correlations · PAPL correlations
