Aggregated price index with volume information
Summary:
- Distribution Services stocks up 0.6% on average while median return up 0.0% in a day
- Distribution Services stocks up 3.2% on average while median return up 2.3% in a week
- Distribution Services stocks down 0.9% on average while median return down 1.0% 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 $NUZE 32.4%, $ASPN 25.5%, $ACET 24.4%, $NOVA 19.8%, $CAH 15.3%
- 1M losers are : Losers for past month are $EVI -18.3%, $BXC -18.5%, $HLF -28.2%, $SDIG -30.0%, $ALTG -43.2%
- 1W winners are : Winners for past week are $ASPN 36.9%, $GRWG 25.4%, $NOVA 24.0%, $ACET 14.2%, $PFGC 12.5%
- 1W losers are : Losers for past week are $TITN -7.1%, $SDIG -7.4%, $HFFG -7.9%, $DIT -8.5%, $NUZE -17.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 21.2%, for the past 3 months is 18.9%
In the past month for a 5 days rolling window, the highest corrrelation is 40.0%, the lowest correlation is 6.9%, the latest correlation is 28.8%
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 85.6% between FAST and GWW
The lowest correlation is -50.0% between FAST and HWKN
Softness in the analytical instrumentation, life sciences and semiconductor markets and increasing operating expenses weigh on IDEX (IEX). Unfavorable foreign currency movement is an added concern.
Applied Industrial's (AIT) fourth-quarter fiscal 2024 results benefit from contributions from acquisitions and solid growth across national accounts.
SpartanNash's (SPTN) Q2 revenues decline y/y. However, its execution of transformational initiatives has created a foundation for growth while contributing to margin gains.
Penske Automotive and Rush Enterprises are part of the Zacks Industry Outlook article.
GREENVILLE, S.C., August 16, 2024--ScanSource, Inc. (NASDAQ: SCSC), a leading hybrid distributor connecting devices to the cloud, today announced the creation of its Integrated Solutions and Services (ISS) group. The ISS group is focused on developing solutions and services that will provide hardware value-added resellers (VARs) the opportunity to wrap additional value around their hardware offerings.
Stocks like DoubleDown Interactive Co., Ltd. (DDI), Acme United Corporation (ACU), Traeger, Inc. (COOK) and Cinemark Holdings, Inc. (CNK) are likely to gain once the Fed starts its rate cuts.
CrossAmerica (CAPL) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.
The already-powerful company aims to bulk up even more through acquisitions.
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
HOUSTON, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY), the world’s largest food distributor, announced today that Roberto Marques will join Sysco’s Board of Directors effective August 15, 2024. Kevin Hourican, Sysco's chair of the board and CEO, said, "We are very pleased to welcome Roberto to our board. Sysco’s board and management team will benefit from Roberto’s extensive experience in global, consumer-focused businesses. Roberto has worked in a number of consumer sectors, i