Aggregated price index with volume information
Summary:
- 5G Chips stocks up 2.9% on average while median return up 2.9% in a day
- 5G Chips stocks down 0.8% on average while median return down 0.8% in a week
- 5G Chips stocks down 1.7% on average while median return down -0.4% in a month
- When average return is significantly different from median return, this implies an asymmetry - composite return is driven by some outliners.
Aggregated price index (close) is based on equal weighted constituencies returns. Average short volume and average total volumes are averaged across all volume data among constituencies.
- 1M winners are : Winners for past month are $SWKS 9.5%
- 1M losers are : Losers for past month are $QCOM -8.8%
- 1W winners are : Winners for past week are $SWKS 1.7%
- 1W losers are : Losers for past week are $QCOM -3.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 76.8%, for the past 3 months is 39.7%
In the past month for a 5 days rolling window, the highest corrrelation is 97.7%, the lowest correlation is -65.5%, the latest correlation is 97.7%
When a correlation deviated from the normal level and goes lower or even negative, it indicates some of stocks have deviated from the normal direction of the group. The deviation could reverse if long term level of correlation was at a higher level. It creates trading opportunities and deserves study whether the deviation is idiosyncratic or systematic.
Among pairwise correlation, the highest correlation is 76.8% between QCOM and SWKS
The lowest correlation is 76.8% between QCOM and SWKS
Steady economic growth amid easing inflationary pressure bodes well for Arista Networks (ANET), QUALCOMM (QCOM) and Micron Technology (MU).
Skyworks' (SWKS) third-quarter fiscal 2024 performance is likely to have benefited from its diversified portfolio despite weakness in wireless infrastructure and traditional data center end-markets.
Get a deeper insight into the potential performance of Qualcomm (QCOM) for the quarter ended June 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
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