Aggregated price index with volume information
- Aerospace & Defense stocks up 0.3% on average while median return up 0.0% in a day
- Aerospace & Defense stocks down 0.5% on average while median return down 0.3% in a week
- Aerospace & Defense stocks down 5.8% on average while median return down 4.3% 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 $SIF 24.7%, $AVAV 15.6%, $PKE 12.2%, $SWBI 10.7%, $BWXT 1.4%
- 1M losers are : Losers for past month are $CODA -17.8%, $TGI -18.7%, $SPR -26.1%, $SPCE -32.1%, $BYRN -34.3%
- 1W winners are : Winners for past week are $SIF 29.8%, $SPR 6.5%, $SPCE 5.3%, $KTOS 4.7%, $NOC 3.6%
- 1W losers are : Losers for past week are $BA -3.0%, $KVHI -3.2%, $ERJ -3.3%, $VSEC -11.5%, $BYRN -28.0%
Index correlation analysis
Correlation for the past month is 12.8%, for the past 3 months is 10.1%
In the past month for a 5 days rolling window, the highest corrrelation is 30.4%, the lowest correlation is 1.6%, the latest correlation is 14.0%
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 83.8% between CW and HXL
The lowest correlation is -71.8% between AVAV and LMT
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