Aggregated price index with volume information
Summary:
- Airlines stocks up 1.4% on average while median return up 1.8% in a day
- Airlines stocks up 0.4% on average while median return up 0.3% in a week
- Airlines stocks down 0.4% 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.
- 1M winners are : Winners for past month are $ATSG 22.5%, $VTOL 11.1%, $AZUL 10.2%, $JBLU 8.2%, $ALGT 5.4%
- 1M losers are : Losers for past month are $AAL -4.5%, $SKYW -4.8%, $DAL -8.4%, $RYAAY -10.6%, $SAVE -15.9%
- 1W winners are : Winners for past week are $ALGT 11.6%, $SAVE 6.1%, $ATSG 4.6%, $VTOL 4.1%, $ALK 4.0%
- 1W losers are : Losers for past week are $AZUL -1.6%, $DAL -2.9%, $SKYW -6.8%, $RYAAY -10.4%, $HA -10.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 32.2%, for the past 3 months is 22.2%
In the past month for a 5 days rolling window, the highest corrrelation is 57.1%, the lowest correlation is -5.5%, the latest correlation is 43.0%
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 81.4% between ATSG and JBLU
The lowest correlation is -39.5% between GOL and RYAAY
Q2 2024 SkyWest Inc Earnings Call
The lesson for investors from the recent meltdown of industry-leading stocks? Nothing is unassailable.
American Airlines (AAL) trims current-year earnings per share forecast. JetBlue (JBLU) aims to boost its capacity in New England.
The airline cut its profit forecast to below analyst expectations for the rest of 2024.
Barclays US Consumer Bank, a leading credit card issuer and financial services partner, announced today the renewal of its decade-long co-branded credit card program with Hawai'i's largest and longest-serving airline, Hawaiian Airlines.
Companies In The News Are: ABBV, VLO, NOC, LUV.
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Q2 2024 American Airlines Group Inc Earnings Call
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