Aggregated price index with volume information
Summary:
- AI stocks down 1.3% on average while median return down 1.9% in a day
- AI stocks down 14.9% on average while median return down 13.1% in a week
- AI stocks down 38.1% on average while median return down 30.5% 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
- 1M losers are : Losers for past month are $SOUN -54.0%
- 1W winners are : Winners for past week are
- 1W losers are : Losers for past week are $SOUN -19.7%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 34.5%, for the past 3 months is 48.8%
In the past month for a 5 days rolling window, the highest corrrelation is 81.7%, the lowest correlation is -28.5%, the latest correlation is 65.3%
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 39.9% between AI and SOUN
The lowest correlation is 24.3% between BBAI and SOUN
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