Aggregated price index
Aggregated price index with volume information
Summary:
- Airlines stocks down 0.1% on average while median return down 0.1% in a day
- Airlines stocks down 3.8% on average while median return down 3.4% in a week
- Airlines stocks down 0.0% on average while median return down 2.2% 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 $VTOL 15.4%, $ZNH 10.4%, $CEA 9.7%, $UAL 2.3%, $MESA 1.8%
- 1M losers are : Losers for past month are $ALGT -5.2%, $SAVE -8.2%, $VLRS -10.4%, $GOL -20.7%, $AZUL -23.5%
- 1W winners are : Winners for past week are $MESA 1.8%, $AAL 1.3%, $VLRS 1.2%, $VTOL 0.2%
- 1W losers are : Losers for past week are $SAVE -5.3%, $LUV -5.5%, $RYAAY -7.3%, $GOL -14.1%, $AZUL -17.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 49.5%, for the past 3 months is 47.8%
In the past month for a 5 days rolling window, the highest corrrelation is 68.5%, the lowest correlation is 13.7%, the latest correlation is 14.6%
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 95.2% between AZUL and GOL
The lowest correlation is -35.8% between CEA and VLRS
Stock news
Deterioration in the Q3 operating ratio does not bode well for Canadian Pacific (CP).
CSX's Q3 results benefit from growth across all its businesses and revenues from Quality Carriers.
Scott Kirby says air travel remains relative bargain compared to pre-pandemic prices
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Controladora Vuela (VLRS) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Yahoo Finance’s Julie Hyman, Brian Sozzi, and Brian Cheung break down United Airline’s Q3 earnings, and outlook for the airline industry.
"Ultimately higher jet fuel prices lead to higher ticket prices," Kirby told CNBC. Despite robust travel demand, a recent surge in fuel prices has proved painful for the aviation industry with Delta Air Lines Inc warning of a fourth quarter pre-tax loss and suggesting it might have to pass on higher costs to consumers. Higher fuel costs leads to less flown capacity and higher fares.
United anticipates an average price of $2.39 a gallon in the fourth quarter, up from $2.14 a gallon in the third quarter and $2.33 last week.
United Airlines' (UAL) Q3 losses were narrower than analysts expected, while revenue also beat. The airline's load factor came in below expectations.
Shares of air transportation services provider United Airlines Holdings (UAL) gained 2.3% in extended trade on Tuesday after the company reported smaller-than-expected loss for the third quarter of 2021. Based out of Illinois, United Airlines offers cargo and passenger transportation services in North America, the Pacific, the Atlantic and Latin America. The company reported a loss of $1.02 per share, narrower than the year-ago loss of $8.16 per share and the Street’s loss estimate of $1.29 per