Aggregated price index with volume information
- The momentum of the sector is very strong.
- Building Products stocks down 0.8% on average while median return down 1.1% in a day
- Building Products stocks up 5.1% on average while median return up 5.6% in a week
- Building Products stocks up 15.9% on average while median return up 11.2% 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 $NSSC 68.8%, $JELD 32.2%, $IBP 22.8%, $SSD 22.3%, $AZEK 21.3%
- 1M losers are : Losers for past month are $PFIE -15.5%
- 1W winners are : Winners for past week are $AMWD 15.1%, $AZEK 9.5%, $TGLS 9.2%, $SSD 8.7%, $AWI 8.7%
- 1W losers are : Losers for past week are $ASPN -2.6%, $PFIE -9.2%
Index correlation analysis
Correlation for the past month is 57.3%, for the past 3 months is 46.8%
In the past month for a 5 days rolling window, the highest corrrelation is 87.8%, the lowest correlation is 16.2%, the latest correlation is 54.2%
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 91.3% between BLD and PATK
The lowest correlation is -37.8% between NSSC and TGLS
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