Aggregated price index with volume information
- Chemicals: Specialty stocks up 0.5% on average while median return up 0.2% in a day
- Chemicals: Specialty stocks up 1.6% on average while median return up -0.2% in a week
- Chemicals: Specialty stocks down 5.8% on average while median return down 5.6% 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 $LOOP 29.3%, $CDXS 7.4%, $REX 4.9%, $MEOH 4.3%, $FSI 4.2%
- 1M losers are : Losers for past month are $SCL -14.7%, $LTHM -16.1%, $DQ -17.7%, $AMTX -23.0%, $LWLG -31.7%
- 1W winners are : Winners for past week are $RYAM 25.5%, $CDXS 21.2%, $SES 16.4%, $FSI 10.0%, $CDXC 6.6%
- 1W losers are : Losers for past week are $KOP -2.2%, $ROG -2.3%, $BCPC -2.5%, $GPRE -3.5%, $LWLG -6.3%
Index correlation analysis
Correlation for the past month is 18.9%, for the past 3 months is 20.0%
In the past month for a 5 days rolling window, the highest corrrelation is 37.7%, the lowest correlation is -0.1%, the latest correlation is 26.4%
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 82.5% between AVNT and KWR
The lowest correlation is -61.9% between FF and LOOP
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