Aggregated price index with volume information
Summary:
- Commercial Banking stocks down 0.8% on average while median return down 0.9% in a day
- Commercial Banking stocks down 2.9% on average while median return down 3.6% in a week
- Commercial Banking stocks down 0.4% on average while median return down 5.3% 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 $BMA 46.5%, $BBAR 42.2%, $SUPV 30.8%, $BCS 23.2%, $GGAL 23.0%
- 1M losers are : Losers for past month are $PNBK -18.0%, $CZFS -18.5%, $MCB -18.9%, $TBBK -20.2%, $NRGD -20.4%
- 1W winners are : Winners for past week are $SUPV 23.0%, $BMA 17.3%, $BBAR 15.0%, $RMBI 14.1%, $GGAL 13.8%
- 1W losers are : Losers for past week are $BRBS -11.3%, $NRGD -11.4%, $AVAL -11.6%, $FUSB -12.0%, $FFWM -16.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 30.1%, for the past 3 months is 33.0%
In the past month for a 5 days rolling window, the highest corrrelation is 50.1%, the lowest correlation is 3.3%, the latest correlation is 25.1%
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 97.1% between AMNB and AUB
The lowest correlation is -70.6% between ATLO and AVAL
In this article, we discuss the 11 best diversified bank stocks to invest in. If you want to skip our detailed analysis of these stocks, go directly to 5 Best Diversified Bank Stocks to Invest In. The coming months could prove to be challenging for banking stocks as the central bank in the United States […]
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