Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Digital Marketing stocks up 2.0% on average while median return up 1.8% in a day
- Digital Marketing stocks up 5.1% on average while median return up 2.1% in a week
- Digital Marketing stocks up 15.5% on average while median return up 10.7% 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 $ICLK 83.5%, $QNST 21.9%, $GHC 17.0%, $EVC 13.3%, $CREX 13.2%
- 1M losers are : Losers for past month are $TTD -5.4%
- 1W winners are : Winners for past week are $ICLK 46.1%, $EVC 9.4%, $GHC 7.1%, $IBEX 6.3%, $CREX 3.3%
- 1W losers are : Losers for past week are $CMPR -0.9%, $MGNI -3.7%, $TTD -3.7%, $RAMP -5.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 26.7%, for the past 3 months is 11.0%
In the past month for a 5 days rolling window, the highest corrrelation is 50.6%, the lowest correlation is -1.8%, the latest correlation is 38.8%
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 76.2% between EVC and GHC
The lowest correlation is -63.4% between ICLK and RAMP
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