Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Commercial Banking stocks up 1.2% on average while median return up 1.0% in a day
- Commercial Banking stocks up 7.1% on average while median return up 5.3% in a week
- Commercial Banking stocks up 23.7% on average while median return up 22.7% 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 $VXX 330.0%, $VXZ 309.1%, $INBK 52.9%, $BMRC 52.0%, $TBBK 45.6%
- 1M losers are : Losers for past month are $HDB -6.7%, $GGAL -8.2%, $BMA -8.9%, $FNGO -9.0%, $FNGU -13.7%
- 1W winners are : Winners for past week are $VXX 305.7%, $VXZ 303.6%, $CFFI 18.5%, $FISI 16.8%, $COLB 15.8%
- 1W losers are : Losers for past week are $BRBS -4.8%, $BMA -5.3%, $FNGO -7.2%, $FNGU -10.7%, $AMTB -12.8%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 30.2%, for the past 3 months is 29.2%
In the past month for a 5 days rolling window, the highest corrrelation is 33.0%, the lowest correlation is 11.9%, the latest correlation is 24.8%
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 91.2% between ABCB and BANR
The lowest correlation is -56.5% between AMJ and BAL
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