# Corpay Inc (CPAY)

None

## Stock Price Trends

Stock price trends estimated using linear regression.

#### Key facts

- The primary trend is increasing.
- The growth rate of the primary trend is 39.62% per annum.
- CPAY price at the close of October 4, 2024 was $331.00 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 18.13% per annum.
- CPAY price at the close of October 4, 2024 was inside the secondary price channel.

### Linear Regression Model

Model equation:

Y_{i} = α + β × X_{i} + ε_{i}

Top border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} + 2 × s)

Bottom border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} – 2 × s)

where:

i - observation number

Y_{i} - natural logarithm of CPAY price

X_{i} - time index, 1 day interval

σ - standard deviation of ε_{i}

a - estimator of α

b - estimator of β

s - estimator of σ

Exp() - calculates the exponent of e

### Primary Trend

Start date: September 16, 2022

End date: May 13, 2024

a = 4.2011

b = 0.0009

s = 0.0585

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0009) – 1

= 39.62%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.0585) – 1

= 26.34%

#### September 16, 2022 calculations

Top border of price channel:

Exp(Y_{742})

= Exp(a + b × X_{742} + 2 × s)

= Exp(a + b × 1,075 + 2 × s)

= Exp(4.2011 + 0.0009 × 1,075 + 2 × 0.0585)

= Exp(5.3011)

= $200.55

Bottom border of price channel:

Exp(Y_{742})

= Exp(a + b × X_{742} – 2 × s)

= Exp(a + b × 1,075 – 2 × s)

= Exp(4.2011 + 0.0009 × 1,075 – 2 × 0.0585)

= Exp(5.0672)

= $158.73

#### May 13, 2024 calculations

Top border of price channel:

Exp(Y_{1,157})

= Exp(a + b × X_{1,157} + 2 × s)

= Exp(a + b × 1,680 + 2 × s)

= Exp(4.2011 + 0.0009 × 1,680 + 2 × 0.0585)

= Exp(5.8543)

= $348.72

Bottom border of price channel:

Exp(Y_{1,157})

= Exp(a + b × X_{1,157} – 2 × s)

= Exp(a + b × 1,680 – 2 × s)

= Exp(4.2011 + 0.0009 × 1,680 – 2 × 0.0585)

= Exp(5.6204)

= $276.01

#### Description

- The primary trend is increasing.
- The growth rate of the primary trend is 39.62% per annum.
- CPAY price at the close of October 4, 2024 was $331.00 and was inside the primary price channel.

### Secondary Trend

Start date: May 5, 2023

End date: October 3, 2024

a = 4.8828

b = 0.0005

s = 0.0626

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0005) – 1

= 18.13%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.0626) – 1

= 28.43%

#### May 5, 2023 calculations

Top border of price channel:

Exp(Y_{901})

= Exp(a + b × X_{901} + 2 × s)

= Exp(a + b × 1,306 + 2 × s)

= Exp(4.8828 + 0.0005 × 1,306 + 2 × 0.0626)

= Exp(5.6039)

= $271.48

Bottom border of price channel:

Exp(Y_{901})

= Exp(a + b × X_{901} – 2 × s)

= Exp(a + b × 1,306 – 2 × s)

= Exp(4.8828 + 0.0005 × 1,306 – 2 × 0.0626)

= Exp(5.3537)

= $211.38

#### October 3, 2024 calculations

Top border of price channel:

Exp(Y_{1,256})

= Exp(a + b × X_{1,256} + 2 × s)

= Exp(a + b × 1,823 + 2 × s)

= Exp(4.8828 + 0.0005 × 1,823 + 2 × 0.0626)

= Exp(5.8398)

= $343.72

Bottom border of price channel:

Exp(Y_{1,256})

= Exp(a + b × X_{1,256} – 2 × s)

= Exp(a + b × 1,823 – 2 × s)

= Exp(4.8828 + 0.0005 × 1,823 – 2 × 0.0626)

= Exp(5.5896)

= $267.63

#### Description

- The secondary trend is increasing.
- The growth rate of the secondary trend is 18.13% per annum.
- CPAY price at the close of October 4, 2024 was inside the secondary price channel.