Aggregated price index with volume information
Summary:
- Electronic Equipment/Instruments stocks up 0.4% on average while median return up 0.1% in a day
- Electronic Equipment/Instruments stocks up 3.9% on average while median return up 4.5% in a week
- Electronic Equipment/Instruments stocks down 8.8% on average while median return down 6.6% 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 $FEIM 36.8%, $MRCY 23.9%, $GNSS 9.2%, $DAKT 7.2%, $VIAV 6.1%
- 1M losers are : Losers for past month are $ANVS -25.1%, $IDN -31.1%, $VUZI -34.6%, $DDD -36.0%, $BW -37.0%
- 1W winners are : Winners for past week are $COHR 21.0%, $MRCY 12.6%, $VIAV 11.2%, $ANVS 10.9%, $KEYS 10.1%
- 1W losers are : Losers for past week are $ITRI -1.4%, $LUNA -9.3%, $KE -9.5%, $BW -13.6%, $VUZI -16.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 23.2%, for the past 3 months is 17.5%
In the past month for a 5 days rolling window, the highest corrrelation is 34.9%, the lowest correlation is 12.2%, the latest correlation is 17.4%
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 88.6% between COHU and KEYS
The lowest correlation is -72.7% between FTV and HOLI
Where estimates-beating companies go, price target-raising analysts follow.
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