Aggregated price index
Aggregated price index with volume information
Summary:
- Construction Materials stocks up 1.2% on average while median return up 0.2% in a day
- Construction Materials stocks up 1.1% on average while median return up -0.1% in a week
- Construction Materials stocks up 12.3% on average while median return up 13.1% 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 $USCR 49.2%, $SUM 23.1%, $AZEK 17.9%, $VMC 15.7%, $CX 15.1%
- 1M losers are : Losers for past month are $CPAC -1.0%, $SND -7.4%, $LOMA -10.4%
- 1W winners are : Winners for past week are $CX 7.7%, $SMID 7.4%, $USCR 5.7%, $CPAC 4.9%, $OC 4.8%
- 1W losers are : Losers for past week are $VMC -0.9%, $MLM -1.6%, $SND -2.0%, $CRH -6.0%, $LOMA -7.9%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 28.7%, for the past 3 months is 28.6%
In the past month for a 5 days rolling window, the highest corrrelation is 47.6%, the lowest correlation is -0.8%, the latest correlation is 13.8%
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 96.2% between MLM and VMC
The lowest correlation is -42.7% between JHX and USLM
Stock news
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