Aggregated price index with volume information
Summary:
- Electric Vehicle stocks up 1.0% on average while median return up 1.0% in a day
- Electric Vehicle stocks up 4.5% on average while median return up 2.0% in a week
- Electric Vehicle stocks down 5.8% on average while median return down 8.7% 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 $NKLA 23.6%, $FSR 10.9%, $KNDI 7.1%, $RIVN 6.1%
- 1M losers are : Losers for past month are $BEEM -15.0%, $LI -15.1%, $NIO -15.3%, $FUV -20.0%, $BLNK -23.3%
- 1W winners are : Winners for past week are $NKLA 25.6%, $RIVN 17.9%, $FSR 14.0%, $XPEV 11.7%, $LCID 9.4%
- 1W losers are : Losers for past week are $NIU -0.4%, $FUV -0.5%, $BLNK -2.5%, $GP -8.4%, $LI -9.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 22.0%, for the past 3 months is 26.6%
In the past month for a 5 days rolling window, the highest corrrelation is 40.7%, the lowest correlation is 5.6%, the latest correlation is 5.6%
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 80.0% between IDRV and XPEV
The lowest correlation is -43.8% between ABB and TSLA
The company intends to accelerate deliveries and expedite its vehicle programs with the new investment.
The EV maker is offering $170 million in convertible notes at a discount that will bring about $150 million into the company's coffers.
Startup Flipturn really was named for the swimming maneuver. Now it wants to make trucking electrification just as smooth. The post Flipturn swims into fleet electrification integration appeared first on FreightWaves.
The EV company expects to use the proceeds to ramp up deliveries. Fisker earlier this month reiterated its plan to increase deliveries of its flagship Ocean sports utility vehicle to 300 units per day later this year. The new investment follows a previously announced convertible notes offering of $340 million in July to the unnamed investor.
LOS ANGELES, September 29, 2023--Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world’s most emotional and sustainable electric vehicles, announced today its intention to offer $170,000,000 in aggregate principal amount of 0% senior unsecured convertible notes due 2025 (the "Notes") to an existing institutional investor (the "Investor"), with such Notes having an original issue discount of approximately 12%, resulting in gross proceeds of $150,000,000 to Fisker.
Both Rivian and Lucid are now trying harder to find an edge in the electric vehicle market, but one stock looks more tempting now.
China's cyberspace regulator's proposal is seen as a move to boost business activity and is particularly good news for the country’s multinational companies.
The electric vehicle (EV) market is jam-packed with competitors ranging from younger entrants such as Tesla, Rivian, or Polestar to legacy automakers like Ford looking in new directions. One of the biggest end markets for EVs is China. BYD recently published its financial results for the first half of 2023, and the company did not disappoint.
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Rivian Automotive (RIVN) closed the most recent trading day at $23.08, moving +0.13% from the previous trading session.