Aggregated price index with volume information
Summary:
- Chip Equipment stocks up 2.1% on average while median return up 2.1% in a day
- Chip Equipment stocks down 0.8% on average while median return down 1.8% in a week
- Chip Equipment stocks down 10.0% on average while median return down 11.1% 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
- 1M losers are : Losers for past month are $ASML -12.6%, $LRCX -15.3%
- 1W winners are : Winners for past week are $KLAC 3.3%
- 1W losers are : Losers for past week are $TSM -2.3%, $LRCX -2.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 91.6%, for the past 3 months is 86.7%
In the past month for a 5 days rolling window, the highest corrrelation is 97.7%, the lowest correlation is 38.5%, the latest correlation is 92.4%
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 98.3% between AMAT and LRCX
The lowest correlation is 84.8% between AMAT and TSM
These companies have more dominant roles in tech and are trading at a better value than AMD.
The market is too pessimistic on these stocks.
It was a bit of a head-scratcher, and could be a buying opportunity.
We recently published a list of 10 Best AI Stocks to Buy Based on New AI ETF. Since Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) ranks 7th on the list, it deserves a deeper look. Over the past few months the market has seen a massive influx of AI-related ETFs as investors look to ride the bandwagon […]
We recently published a list of 10 Best AI Stocks to Buy Based on New AI ETF. Since ASML Holding NV (AMS:ASML) ranks 8th on the list, it deserves a deeper look. Over the past few months the market has seen a massive influx of AI-related ETFs as investors look to ride the bandwagon of AI […]
Here are three technology stocks that should definitely be on your buy list.
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The latest trading day saw Lam Research (LRCX) settling at $959.69, representing a -1.78% change from its previous close.
In the closing of the recent trading day, Applied Materials (AMAT) stood at $219.65, denoting a -1.71% change from the preceding trading day.
Last Thursday, Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) reported its second quarter results, surpassing both top and bottom-line estimates. Surging demand for advanced chips used for developing gen-AI applications has boosted Taiwan listed shares of the world’s leading producer of advanced chips found in everything from smartphones to AI applications, whose clients are the titans Apple Inc (NASDAQ: AAPL) and Nvidia Corporation (NASDAQ: NVDA), among others, by almost 70% yea