Aggregated price index with volume information
Summary:
- Beverages: Non-Alcoholic stocks up 5.1% on average while median return up -0.3% in a day
- Beverages: Non-Alcoholic stocks up 7.8% on average while median return up 3.8% in a week
- Beverages: Non-Alcoholic stocks up 2.3% on average while median return up 0.7% 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 $BRFH 61.1%, $KDP 10.2%, $PRMW 3.9%, $KOF 2.6%, $PEP 2.3%
- 1M losers are : Losers for past month are $COKE -1.1%, $FIZZ -6.6%, $MNST -10.4%, $FMX -11.9%, $CELH -21.4%
- 1W winners are : Winners for past week are $BRFH 61.1%, $KDP 8.8%, $CCEP 6.5%, $KOF 5.8%, $KO 4.8%
- 1W losers are : Losers for past week are $MNST -0.5%, $FIZZ -2.8%, $FMX -3.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 21.0%, for the past 3 months is 17.1%
In the past month for a 5 days rolling window, the highest corrrelation is 50.7%, the lowest correlation is -7.6%, the latest correlation is 4.7%
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 76.6% between BRFH and KDP
The lowest correlation is -28.7% between FIZZ and MNST
Keurig's (KDP) Q1 results reflect strong brand momentum, as evident from market share growth across regions and elasticity across most categories. Improved net price realization also aids results.
Newell's (NWL) first-quarter 2024 performance is likely to have been hurt by a challenging macroeconomic environment and elevated levels of inflation.
Coca-Cola FEMSA (KOF) is well positioned to outperform the market, as it exhibits above-average growth in financials.
PepsiCo's (PEP) Q1 results reflect strong momentum across its international business, driven by at least high-single-digit organic revenue growth in all its international regions.
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