Aggregated price index with volume information
Summary:
- Consumer Services stocks up 2.0% on average while median return up 1.3% in a day
- Consumer Services stocks up 2.0% on average while median return up 1.8% in a week
- Consumer Services stocks up 5.9% on average while median return up 5.7% 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 $IHRT 67.6%, $EVRI 57.7%, $SSP 47.5%, $BALY 45.3%, $CHUY 45.0%
- 1M losers are : Losers for past month are $DPZ -19.6%, $CMG -24.3%, $MLCO -25.9%, $RRGB -25.9%, $KRUS -34.8%
- 1W winners are : Winners for past week are $EVRI 54.5%, $IHRT 27.6%, $BALY 23.0%, $SSP 19.2%, $TZOO 18.8%
- 1W losers are : Losers for past week are $WW -7.6%, $MGM -7.8%, $RCL -8.8%, $BJRI -13.1%, $LIND -14.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 18.6%, for the past 3 months is 11.7%
In the past month for a 5 days rolling window, the highest corrrelation is 28.4%, the lowest correlation is 0.5%, the latest correlation is 25.8%
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 95.6% between BATRA and BATRK
The lowest correlation is -53.4% between ARKR and CHH
Executives at the restaurant chain reported "encouraging" trends among diners buying entrees, add-ons and soft drinks—but an ongoing "negative" mix with alcoholic beverages.
Shares of american restaurant chain BJ’s Restaurants (NASDAQ:BJRI) fell 12.9% in the morning session after the company reported second-quarter earnings results. Overall sales were underwhelming as growth was flat, and revenue only narrowly beat analysts' expectations. The company noted that sales momentum didn't pick up fast in April. However, the momentum picked up in the latter part of the quarter, with the company adding, "Approximately half of our restaurants set sales records during the qua
Q2 2024 BJ's Restaurants Inc Earnings Call
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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