Aggregated price index with volume information
Summary:
- Environmental Services stocks down 0.1% on average while median return down 0.5% in a day
- Environmental Services stocks up 2.6% on average while median return up 1.6% in a week
- Environmental Services stocks up 1.2% on average while median return up 0.3% 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 $AWX 20.0%, $TTEK 12.1%, $PESI 5.8%, $CLH 4.1%, $SRCL 0.8%
- 1M losers are : Losers for past month are $RSG -0.6%, $CWST -1.2%, $QRHC -7.8%, $WM -7.9%, $HDSN -10.6%
- 1W winners are : Winners for past week are $AWX 13.8%, $QRHC 5.6%, $PESI 5.2%, $CWST 1.8%, $HDSN 1.7%
- 1W losers are : Losers for past week are
Correlation Analysis
Index correlation analysis
Correlation for the past month is 13.7%, for the past 3 months is 10.3%
In the past month for a 5 days rolling window, the highest corrrelation is 30.1%, the lowest correlation is -3.1%, the latest correlation is 12.6%
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 90.6% between RSG and WM
The lowest correlation is -33.3% between QRHC and SRCL
Investing in the stock market for the long term is always the most sound way to avoid losing money. However, identifying long-term stocks with robust business models and little risk can be somewhat tricky. Selecting the right long-term investing opportunities doesn’t always have to start with a company’s financial performance. While this is extremely important to consider, investors often look to stocks that operate in industries with more stability. They can hail from sectors including consumer
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