Aggregated price index with volume information
Summary:
- Aircraft Manufacture and Service stocks up 2.0% on average while median return up 1.4% in a day
- Aircraft Manufacture and Service stocks up 3.8% on average while median return up 3.4% in a week
- Aircraft Manufacture and Service stocks up 4.4% on average while median return up 4.7% 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 $ATRO 13.1%, $DCO 12.3%, $SPR 9.7%, $ERJ 6.9%, $AIRI 6.0%
- 1M losers are : Losers for past month are $BYRN -2.7%, $TDG -5.1%, $AVAV -9.8%, $SPCE -16.1%
- 1W winners are : Winners for past week are $SPCE 15.3%, $DCO 6.3%, $ATRO 5.8%, $AVAV 5.8%, $HEI 5.6%
- 1W losers are : Losers for past week are $TDG -0.3%, $ERJ -1.5%, $TATT -2.0%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 16.1%, for the past 3 months is 11.9%
In the past month for a 5 days rolling window, the highest corrrelation is 33.8%, the lowest correlation is -4.2%, the latest correlation is 21.3%
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 88.0% between ATRO and DCO
The lowest correlation is -56.1% between SIF and TATT
Second-quarter earnings for the Aerospace sector, which houses aerospace-defense stocks, are expected to have declined 2.3%. Let's see how LDOS, CW, ERJ & HII report.
ARLINGTON, Va., July 22, 2024--AV Introduces New Washington Operations Team
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