Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Alzheimer Treatment stocks up 2.0% on average while median return up 0.6% in a day
- Alzheimer Treatment stocks up 9.2% on average while median return up 7.6% in a week
- Alzheimer Treatment stocks up 21.0% on average while median return up 9.5% 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 $ANVS 97.1%, $AVXL 76.4%, $WVE 49.1%, $ATHA 37.3%, $ACAD 23.5%
- 1M losers are : Losers for past month are $ACIU -1.5%, $MRK -4.7%, $CYTH -7.4%, $SAVA -19.6%
- 1W winners are : Winners for past week are $SAVA 48.0%, $AVXL 23.0%, $ACIU 12.4%, $DNLI 12.3%, $WVE 11.8%
- 1W losers are : Losers for past week are $MRK -0.4%, $ANVS -3.3%, $CYTH -6.6%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 16.7%, for the past 3 months is 12.2%
In the past month for a 5 days rolling window, the highest corrrelation is 39.6%, the lowest correlation is -3.2%, 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 72.6% between DNLI and VYGR
The lowest correlation is -43.0% between CYTH and SAVA
AbbVie's Immunology Products Continue to Deliver, Morgan Stanley Says
AstraZeneca (AZN), Sanofi (SNY) and AbbVie (ABBV) announce second-quarter results. Merck (MRK) and Pfizer's (PFE) phase III studies achieve primary goals.
Glycomimetics and Cue Biopharma both revealed layoffs. Elsewhere, AbbVie’s earnings impressed Wall Street and an FDA panel recommended changing testing requirements for some lung cancer drugs.
RAHWAY, N.J., July 26, 2024--Merck Receives Positive EU CHMP Opinion for KEYTRUDA Plus Padcev as First-Line Treatment for Patients With Advanced Bladder Cancer
The company reported a slight revenue increase to $14.46bn in the second quarter.
Companies In The News Are: ABBV, VLO, NOC, LUV.
Q2 2024 AbbVie Inc Earnings Call
AbbVie (NYSE: ABBV) today announced that the European Commission has approved SKYRIZI® (risankizumab) for the treatment of adult patients with moderately to severely active ulcerative colitis (UC) who have had an inadequate response to, lost response to, or were intolerant to conventional therapy or a biologic therapy.3
Amgen (AMGN) closed at $334.30 in the latest trading session, marking a -0.39% move from the prior day.
The market was impressed with a notable increase in full-year guidance.