Aggregated price index with volume information
Summary:
- Airlines stocks up 1.2% on average while median return up 1.0% in a day
- Airlines stocks down 1.0% on average while median return down 1.4% in a week
- Airlines stocks up 0.6% on average while median return up 1.9% 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 $ALK 17.5%, $UAL 17.1%, $VLRS 14.9%, $DAL 9.4%, $ATSG 6.0%
- 1M losers are : Losers for past month are $HA -3.3%, $VTOL -4.4%, $RYAAY -5.3%, $ALGT -9.0%, $AZUL -29.2%
- 1W winners are : Winners for past week are $UAL 19.5%, $VLRS 5.1%, $ALK 4.1%, $JBLU 3.5%, $AAL 2.9%
- 1W losers are : Losers for past week are $ATSG -3.4%, $VTOL -5.1%, $RYAAY -7.0%, $SAVE -7.1%, $AZUL -21.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 40.6%, for the past 3 months is 30.0%
In the past month for a 5 days rolling window, the highest corrrelation is 67.8%, the lowest correlation is 11.1%, the latest correlation is 43.7%
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 86.9% between AAL and DAL
The lowest correlation is -40.5% between AZUL and GOL
A Relative Strength Rating upgrade for Alaska Air Group shows improving technical performance. Will it continue?
High labor costs are likely to have dented SkyWest's (SKYW) bottom-line performance in Q1.
As headwinds build, Azul looks to consolidate.
NEW YORK, April 18, 2024--JetBlue (NASDAQ: JBLU) today announced several leadership and organizational updates as the company continues on its path to sustained profitability:
Alaska Air's (ALK) first-quarter 2024 revenues benefit from contributions from passenger revenues.
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Alaska Air Group, Inc (NYSE:ALK) reported first-quarter 2024 total operating revenue growth of 2% year-over-year to $2.232 billion, beating the consensus of $2.19 billion. Adjusted EPS stood at $(0.92), down from $(0.62) a year ago, beating the consensus of $(1.05). The airline stated that its first quarter operation and results were significantly impacted by Flight 1282 in January and the Boeing 737-9 MAX grounding, which extended into February. Alaska Air received $162 million in initial cash
Shares of JetBlue Airways (JBLU) are moving higher on Thursday morning as the company's stock received an upgrade from JPMorgan from Underweight to Neutral. The analyst behind the call cites an improved market sentiment and optimism over the future performance of the airline operator. Yahoo Finance Anchors Brad Smith and Seana Smith break down the latest development for JetBlue and what it could mean for the company moving forward. For more expert insight and the latest market action, click here...
Spirit Airlines (NYSE: SAVE) today celebrated the official opening of Spirit Central, its new corporate campus at Dania Pointe in Dania Beach, Florida. The campus spans more than 11 acres and features four buildings, including a support center with offices, an amenity building, a new crew training facility built for hands-on experience in flight simulators, and a corporate housing facility. Additionally, the campus also includes dedicated parking garages for Spirit Team Members. The new Spirit C
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