Aggregated price index with volume information
Summary:
- Aircraft Engine and Engine Parts Manufacturing stocks down 0.6% on average while median return down 0.4% in a day
- Aircraft Engine and Engine Parts Manufacturing stocks up 4.7% on average while median return up 2.3% in a week
- Aircraft Engine and Engine Parts Manufacturing stocks up 1.6% on average while median return up -1.3% 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 $AIR 14.1%, $RTX 5.6%
- 1M losers are : Losers for past month are $HON -1.9%, $GE -8.2%
- 1W winners are : Winners for past week are $AIR 9.8%, $B 8.6%
- 1W losers are : Losers for past week are
Correlation Analysis
Index correlation analysis
Correlation for the past month is 27.0%, for the past 3 months is 21.3%
In the past month for a 5 days rolling window, the highest corrrelation is 68.6%, the lowest correlation is -10.3%, the latest correlation is 11.2%
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 48.8% between B and HON
The lowest correlation is -2.1% between GE and RTX
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GE Aerospace (GE) has reported its first quarterly results since becoming an independent company after its spin-off from General Electric. The aerospace developer raised its 2024 profit forecast, buoyed by strong sales for jet engine parts and services. GE Aerospace shares are boosted in Tuesday's trading session after topping first-quarter earnings and revenue estimates. Argus Research President John Eade joins the Morning Brief to provide insights into GE Aerospace's performance. Eade describe...
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