Aggregated price index with volume information
Summary:
- Finance/Rental/Leasing stocks up 0.8% on average while median return up 0.9% in a day
- Finance/Rental/Leasing stocks down 1.2% on average while median return down 0.7% in a week
- Finance/Rental/Leasing stocks down 3.3% on average while median return down 4.0% 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 $CPSS 17.2%, $SAND 9.7%, $FCFS 8.6%, $WINA 8.5%, $EZPW 5.4%
- 1M losers are : Losers for past month are $HTZ -20.3%, $ATLC -22.2%, $LX -23.8%, $EOSE -27.5%, $ASPS -34.7%
- 1W winners are : Winners for past week are $ASPS 11.9%, $WINA 11.3%, $GDOT 6.4%, $AXP 5.9%, $ALLY 4.9%
- 1W losers are : Losers for past week are $TREE -9.3%, $CAR -11.5%, $ATLC -11.8%, $HTZ -13.0%, $EOSE -16.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 20.0%, for the past 3 months is 14.6%
In the past month for a 5 days rolling window, the highest corrrelation is 25.7%, the lowest correlation is 8.6%, the latest correlation is 16.9%
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 90.0% between ALLY and DFS
The lowest correlation is -47.6% between ECPG and EMGC
Warren Buffett likes to buy companies that have moats. Where do you find them?
Key Insights from Corporate Earnings
American Express (AXP) released its first-quarter earnings showing a jump in revenue of 11% compared to the same period a year ago, posting $15.80 billion and just narrowly beating the Wall Street expectation of $15.77 billion. The credit card company also boasted that Gen Z and Millennial customers accounted for more than 60% of new account acquisitions globally in the quarter. Yahoo Finance Anchors Julie Hyman and Madison Mills break down the latest development for the company and what it coul...
American Express Co’s (NYSE:AXP) first-quarter revenue (net of interest expense) grew 11% year-on-year to $15.80 billion, marginally beating the consensus of $15.79 billion. The increase was primarily due to higher net interest income and increased Card Member spending. EPS of $3.33 beat the consensus of $2.95. Card Member spending or Billed Business grew 6% Y/Y to $367 million. Also Read: Mastercard Set to Increase Credit Card Fees, Adding Millions in Costs for Retailers After Visa Settlement U
The Dow and the S&P 500 edged higher on Friday on gains in American Express after upbeat earnings and as initial jitters about an escalation in the Middle East conflict subsided, while Netflix weighed on the Nasdaq following its dour forecast. Netflix slumped 6.6% following the streaming video pioneer's lackluster second-quarter forecast.
Market indices have stemmed the tide from triple-digit losses early this morning, but are still in the red.
Stock Market Today: The Dow Jones recovered after Israel's retaliatory strike on Iran. Netflix stock dived on weak sales forecasts.
Here is how Air Lease (AL) and Costamare (CMRE) have performed compared to their sector so far this year.
Although the revenue and EPS for American Express (AXP) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Get a deeper insight into the potential performance of United Rentals (URI) for the quarter ended March 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.