Aggregated price index with volume information
- Auto Parts: OEM stocks down 1.5% on average while median return down 1.5% in a day
- Auto Parts: OEM stocks up 1.1% on average while median return up 2.1% in a week
- Auto Parts: OEM stocks up 9.7% on average while median return up 3.4% 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 $MPAA 28.4%, $MOD 24.0%, $DAN 11.1%, $CAAS 10.5%, $SUP 8.4%
- 1M losers are : Losers for past month are $BWA -1.1%, $LI -2.0%, $STRT -4.6%, $CPS -8.4%, $ADNT -8.5%
- 1W winners are : Winners for past week are $SUP 10.0%, $MOD 5.5%, $DAN 5.3%, $AXL 5.2%, $CAAS 4.8%
- 1W losers are : Losers for past week are $APTV -1.3%, $BWA -2.1%, $STRT -4.2%, $CPS -7.9%, $LI -11.6%
Index correlation analysis
Correlation for the past month is 41.3%, for the past 3 months is 33.8%
In the past month for a 5 days rolling window, the highest corrrelation is 56.3%, the lowest correlation is 16.6%, the latest correlation is 47.0%
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 89.8% between AXL and DAN
The lowest correlation is -37.2% between STRT and SYPR
BorgWarner Inc. (NYSE: BWA) ("the Company") today announced that Kevin Nowlan has decided to retire as Executive Vice President and Chief Financial Officer ("CFO") after a 28-year career in finance. Craig Aaron, BorgWarner's current Vice President and Controller, will succeed Mr. Nowlan as Executive Vice President and CFO, effective March 1, 2024. Mr. Nowlan will remain with the Company in an advisory capacity through April 1, 2024, to ensure a smooth transition.
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