Aggregated price index with volume information
- The momentum of the sector is very strong.
- Coal stocks down 0.2% on average while median return down 0.2% in a day
- Coal stocks up 10.6% on average while median return up 10.1% in a week
- Coal stocks up 16.6% on average while median return up 20.2% 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 $METC 37.4%, $ARCH 32.9%, $HCC 30.1%, $AREC 28.5%, $HNRG 23.0%
- 1M losers are : Losers for past month are $CTRA -3.9%
- 1W winners are : Winners for past week are $AREC 25.6%, $METC 22.7%, $SES 16.4%, $HNRG 15.5%, $BTU 13.0%
- 1W losers are : Losers for past week are
Index correlation analysis
Correlation for the past month is 40.8%, for the past 3 months is 32.4%
In the past month for a 5 days rolling window, the highest corrrelation is 59.2%, the lowest correlation is 1.0%, the latest correlation is 51.6%
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 80.8% between BTU and CEIX
The lowest correlation is -9.6% between NRP and SES
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