Aggregated price index
Aggregated price index with volume information
Summary:
- Airlines stocks up 1.5% on average while median return up 1.3% in a day
- Airlines stocks up 3.1% on average while median return up 1.5% in a week
- Airlines stocks down 14.7% on average while median return down 13.0% 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.
Click on + to show price series and click on ticker for stock detail page
* P/E and MarketCap are refreshed daily using IEX Cloud service. P/B, P/S, PEG, growth, short%, HelbyInstitute are refreshed weekly using Yahoo feeds. For latest stock stats please visit Yahoo Finance.
* Price Patter: / is upward trend, \ is downward trend, - is sideway. Click on the ticker to go to stock page to see Bayesian Trend model plot of the time series.
* Channel and change points are derived from Bayesian Trend model, where the channel slope is the growth rate while change points are those the model partition the time series.
- 1M winners are : Winners for past month are $CEA 2.7%, $GOL 1.4%
- 1M losers are : Losers for past month are $VLRS -18.4%, $SKYW -19.3%, $JBLU -20.5%, $SAVE -25.7%, $MESA -30.2%
- 1W winners are : Winners for past week are $GOL 14.1%, $HA 9.0%, $AZUL 8.7%, $JBLU 8.3%, $RYAAY 7.3%
- 1W losers are : Losers for past week are $ATSG -1.5%, $SKYW -2.2%, $MESA -2.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 64.1%, for the past 3 months is 57.0%
In the past month for a 5 days rolling window, the highest corrrelation is 78.7%, the lowest correlation is 34.8%, the latest correlation is 75.9%
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 96.9% between AZUL and GOL
The lowest correlation is 1.4% between ALGT and CEA
Stock news
High costs are likely to have hit StealthGas' (GASS) Q1 bottom-line performance.
Euroseas' (ESEA) Q1 performance might have been hurt by high operating expenses. However, increased charter rates are likely to have aided the top line.
Dow transports fall toward 14-month low, underperforming the Dow industrials again, as railroad stocks get downgraded.
Higher demand for LNG vessels is likely to have aided Golar LNG's (GLNG) Q1 performance. However, softness in FLNG revenues might have hurt the top line.
ZTO Express' (ZTO) first-quarter 2022 results might have been dented by rising expenses.
High costs are likely to have hurt Star Bulk's (SBLK) Q1 performance.
On Tuesday, airline stocks got a lift after United Airlines Holdings (NASDAQ: UAL) said that so far, at least, demand is holding up well in the face of rising inflation. Shares of United, American Airlines Holdings (NASDAQ: AAL), and Spirit Airlines (NYSE: SAVE) all fell about 5%, and planemaker Boeing (NYSE: BA) also traded down by a similar amount. As I said yesterday, these are volatile times to be investing in airline stocks.
CEO Bob Jordan Southwest expects to return to profitability this year and remains focused on restoring its network.
United Airlines announced today it has filed an application with the U.S. Department of Transportation (DOT) for three weekly nonstop flights between Washington, D.C. and Cape Town, South Africa. If approved, United's flights will become the first nonstop service ever between Washington D.C. and South Africa's legislative capital, Cape Town. This long-overdue route will benefit important government-to-government connections and increase communication and commerce with a region that has strong cu
With an expected increase in United Airlines' (UAL) capacity following the return of its 52 Boeing 777 jets to service, the company's top line is likely to benefit.