CPRT vs QUAL: Correlation
Measured on weekly returns over the past three years, Copart (CPRT) and iShares MSCI USA Quality Factor ETF (QUAL) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPRT and QUAL?
Across a 3-year window, the weekly returns of CPRT and QUAL correlate at 0.53, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.53). Stretching to 5 years gives 0.63, with an annualized covariance of 193.3 %².
In CPRT's tracked universe of 35 assets, QUAL sits right near the top at #1. The last year tells two different stories: QUAL led by 52.3 percentage points, -32.6% for CPRT against +19.7% for QUAL. On a rolling one-year basis the correlation drifted between 0.38 and 0.75, a moderate band. One caveat on sizing: CPRT is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 QUAL: side by side
| CPRT (Copart) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | -32.6% | +19.7% |
| 5-year return | -9.3% | +68.0% |
| Volatility (ann.) | 26.0% | 14.0% |
| Beta vs S&P 500 | 0.86 | 0.93 |
| Max drawdown (3Y) | -57.4% | -18.0% |
| Market cap | $30.3B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 0.00% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | Industrials | ETF · US Style |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | CPRT | QUAL |
|---|---|---|
| 2022 | -19.7% | -20.5% |
| 2023 | +60.9% | +30.9% |
| 2024 | +17.1% | +22.3% |
| 2025 | -31.8% | +12.7% |
| 2026 | -16.3% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPRT and QUAL good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CPRT and QUAL?
As of 2026-08-27, the correlation of weekly returns between CPRT and QUAL is 0.53 over 3 years, 0.29 over 1 year and 0.63 over 5 years.
Is QUAL a good diversifier for CPRT?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cprt-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cprt-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CPRT correlations · QUAL correlations
