Aggregated price index with volume information
Summary:
- Clean Energy Technology stocks up 0.5% on average while median return up 0.8% in a day
- Clean Energy Technology stocks up 3.8% on average while median return up 1.7% in a week
- Clean Energy Technology stocks down 10.8% on average while median return down 11.7% 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 $NOVA 19.8%, $ENPH 7.8%, $FSLR 5.5%, $CMI 1.1%
- 1M losers are : Losers for past month are $HY -17.9%, $BE -20.8%, $BLDP -21.3%, $PLUG -24.3%, $ARRY -38.8%
- 1W winners are : Winners for past week are $NOVA 24.0%, $SEDG 19.3%, $PLUG 12.2%, $CSIQ 8.9%, $TSLA 8.1%
- 1W losers are : Losers for past week are $SOL -1.9%, $BLDP -2.6%, $BEEM -3.3%, $DQ -7.1%, $ARRY -7.7%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 38.0%, for the past 3 months is 40.2%
In the past month for a 5 days rolling window, the highest corrrelation is 76.4%, the lowest correlation is 24.8%, the latest correlation is 49.6%
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 85.3% between BLDP and CSIQ
The lowest correlation is -19.3% between NOVA and SOL
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AGREEMENTS SECURE SEVEN YEARS OF FIXED REVENUESCOMBINED WITH RECENTLY ANNOUNCED 100MW/200MWH LOUISA PROJECT, ORMAT TO OWN AND OPERATE 253MW/473MWH BY END OF 2026 IN TEXAS RENO, Nev., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA), a leading renewable energy company, today announced the signing of two seven-year tolling agreements with Equilibrium Energy for the Lower Rio 60MW/120MWh and Bird Dog 60MW/120MWh Energy Storage facilities in Texas. This marks Ormat’s first toll
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