Aggregated price index
Aggregated price index with volume information
- The momentum of the sector is very strong.
- Electric Vehicle stocks down 3.1% on average while median return down 1.5% in a day
- Electric Vehicle stocks up 40.8% on average while median return up 27.9% in a week
- Electric Vehicle stocks up 141.5% on average while median return up 125.5% 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 is based on equal weighted constituencies returns,Aggregated volume information is based on sum of all constituencies volumes
- 1M winners are : Winners for past month are $SOLO 241.0%, $XPEV 227.6%, $BLNK 216.0%, $AYRO 208.3%, $GP 183.6%
- 1M losers are : Losers for past month are
- 1W winners are : Winners for past week are $AYRO 102.1%, $BLNK 71.0%, $XPEV 52.4%, $FUV 46.9%, $GP 41.4%
- 1W losers are : Losers for past week are $NIU -2.8%
Index correlation analysis
Correlation for the past month is 32.1%, for the past 3 months is 28.5%
In the past month for a 5 days rolling window, the highest corrrelation is 83.5%, the lowest correlation is -4.8%, the latest correlation is -1.2%
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 73.8% between NIO and XPEV
The lowest correlation is -25.1% between GP and NIU
The Dow Jones Industrial Average dropped from record highs, as Tesla stock briefly skidded on a vehicle recall. Nio dived on a Chinese government investigation.
Shares of Nikola Corp. dropped 16.1% in premarket trading Wednesday, putting them on track to snap a record eight-day win streak in which the electric truck maker's stock rocketed 76.3%. In an interview late Tuesday on CNBC's "Mad Money with Jim Cramer," Chief Executive Mark Russell did not reassure investors that partnership with General Motors Corp. announced in September, which included GM receiving a $2 billion stake in Nikola, would still go through, as CNBC reported. Also in the intervie...
GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of zero emissions electric powered medium and heavy duty vehicles, announced via Green Commuter, that two EV Stars will be deployed in Los Angeles County in the Basset and Avocado Heights neighborhoods under a California Energy Commission Grant.
Nio Inc - ADR (NYSE: NIO) shares are up 2,610% over the last year, and some large option traders are betting the Nio rally still has legs.The Nio Trades: On Tuesday, Benzinga Pro subscribers received dozens of option alerts related to unusually large Nio trades Here are a handful of the largest: * At 10:49 a.m., a trader bought 205 Nio call options with a $20 strike price expiring on Feb. 10 near the ask price at $34.83. The trade represented a $714,015 bullish bet. * At 10:55 a.m., a trader s...
Shares of Arcimoto (NASDAQ: FUV), a maker of specialty electric three-wheeled vehicles, are trading down 15% as of 2 p.m. EST today. Today, Arcimoto announced it is offering 1 million shares of common stock directly to institutional investors. Shares are down along with those of competitor ElectraMeccanica Vehicles.
Shares of Switchback Energy Acquisition (NYSE: SBE) were trading sharply higher again on Tuesday afternoon. The special-purpose acquisition company, which plans to merge with electric-vehicle charging network ChargePoint, appeared to be benefiting from strong investor interest after a prominent short-seller attacked a ChargePoint rival. As of 2 p.m. EST, Switchback's shares were up about 9.2% from Monday's closing price, and up about 42% since the end of last week.
Shares of Canadian electric-vehicle maker ElectraMeccanica Vehicles (NASDAQ: SOLO) were trading lower on Tuesday, declining for a second day after a prominent short-seller called its business and valuation into question. As of 11:15 a.m. EST, ElectraMeccanica's shares were trading at $9.16, down about 10.2% from Monday's closing price. Investors excited about the potential for electric vehicles -- and mindful of the huge run-up in Tesla's shares over the last couple of years -- have bid up the...
Shares of electric vehicle charging company Blink Charging (BLNK) closed up 48% on Monday, continuing last week's sharp moves higher.