Stock Analysis on Net

Carrier Global Corp. (NYSE:CARR)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 26, 2023.

Capital Asset Pricing Model (CAPM)

Microsoft Excel

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Rates of Return

Carrier Global Corp., monthly rates of return

Microsoft Excel
Carrier Global Corp. (CARR) Standard & Poor’s 500 (S&P 500)
t Date PriceCARR,t1 DividendCARR,t1 RCARR,t2 PriceS&P 500,t RS&P 500,t3
Mar 31, 2020
1. Apr 30, 2020
2. May 31, 2020
3. Jun 30, 2020
. . . . . . .
. . . . . . .
. . . . . . .
32. Nov 30, 2022
33. Dec 31, 2022
Average (R):
Standard deviation:
Carrier Global Corp. (CARR) Standard & Poor’s 500 (S&P 500)
t Date PriceCARR,t1 DividendCARR,t1 RCARR,t2 PriceS&P 500,t RS&P 500,t3
Mar 31, 2020
1. Apr 30, 2020
2. May 31, 2020
3. Jun 30, 2020
4. Jul 31, 2020
5. Aug 31, 2020
6. Sep 30, 2020
7. Oct 31, 2020
8. Nov 30, 2020
9. Dec 31, 2020
10. Jan 31, 2021
11. Feb 28, 2021
12. Mar 31, 2021
13. Apr 30, 2021
14. May 31, 2021
15. Jun 30, 2021
16. Jul 31, 2021
17. Aug 31, 2021
18. Sep 30, 2021
19. Oct 31, 2021
20. Nov 30, 2021
21. Dec 31, 2021
22. Jan 31, 2022
23. Feb 28, 2022
24. Mar 31, 2022
25. Apr 30, 2022
26. May 31, 2022
27. Jun 30, 2022
28. Jul 31, 2022
29. Aug 31, 2022
30. Sep 30, 2022
31. Oct 31, 2022
32. Nov 30, 2022
33. Dec 31, 2022
Average (R):
Standard deviation:

Show all

1 Data in US$ per share of common stock, adjusted for splits and stock dividends.

2 Rate of return on common stock of CARR during period t

3 Rate of return on S&P 500 (the market portfolio proxy) during period t


Variance and Covariance

Carrier Global Corp., calculation of variance and covariance of returns

Microsoft Excel
t Date RCARR,t RS&P 500,t (RCARR,tRCARR)2 (RS&P 500,tRS&P 500)2 (RCARR,tRCARR)×(RS&P 500,tRS&P 500)
1. Apr 30, 2020
2. May 31, 2020
3. Jun 30, 2020
. . . . . . .
. . . . . . .
. . . . . . .
32. Nov 30, 2022
33. Dec 31, 2022
Total (Σ):
t Date RCARR,t RS&P 500,t (RCARR,tRCARR)2 (RS&P 500,tRS&P 500)2 (RCARR,tRCARR)×(RS&P 500,tRS&P 500)
1. Apr 30, 2020
2. May 31, 2020
3. Jun 30, 2020
4. Jul 31, 2020
5. Aug 31, 2020
6. Sep 30, 2020
7. Oct 31, 2020
8. Nov 30, 2020
9. Dec 31, 2020
10. Jan 31, 2021
11. Feb 28, 2021
12. Mar 31, 2021
13. Apr 30, 2021
14. May 31, 2021
15. Jun 30, 2021
16. Jul 31, 2021
17. Aug 31, 2021
18. Sep 30, 2021
19. Oct 31, 2021
20. Nov 30, 2021
21. Dec 31, 2021
22. Jan 31, 2022
23. Feb 28, 2022
24. Mar 31, 2022
25. Apr 30, 2022
26. May 31, 2022
27. Jun 30, 2022
28. Jul 31, 2022
29. Aug 31, 2022
30. Sep 30, 2022
31. Oct 31, 2022
32. Nov 30, 2022
33. Dec 31, 2022
Total (Σ):

Show all

VarianceCARR = Σ(RCARR,tRCARR)2 ÷ (33 – 1)
= ÷ (33 – 1)
=

VarianceS&P 500 = Σ(RS&P 500,tRS&P 500)2 ÷ (33 – 1)
= ÷ (33 – 1)
=

CovarianceCARR, S&P 500 = Σ(RCARR,tRCARR)×(RS&P 500,tRS&P 500) ÷ (33 – 1)
= ÷ (33 – 1)
=


Systematic Risk (β) Estimation

Microsoft Excel
VarianceCARR
VarianceS&P 500
CovarianceCARR, S&P 500
Correlation coefficientCARR, S&P 5001
βCARR2
αCARR3

Calculations

1 Correlation coefficientCARR, S&P 500
= CovarianceCARR, S&P 500 ÷ (Standard deviationCARR × Standard deviationS&P 500)
= ÷ ( × )
=

2 βCARR
= CovarianceCARR, S&P 500 ÷ VarianceS&P 500
= ÷
=

3 αCARR
= AverageCARR – βCARR × AverageS&P 500
= ×
=


Expected Rate of Return

Microsoft Excel
Assumptions
Rate of return on LT Treasury Composite1 RF
Expected rate of return on market portfolio2 E(RM)
Systematic risk (β) of Carrier Global Corp. common stock βCARR
 
Expected rate of return on Carrier Global Corp. common stock3 E(RCARR)

1 Unweighted average of bid yields on all outstanding fixed-coupon U.S. Treasury bonds neither due or callable in less than 10 years (risk-free rate of return proxy).

2 See details »

3 E(RCARR) = RF + βCARR [E(RM) – RF]
= + []
=