Aggregated price index with volume information
Summary:
- Food Retail stocks up 1.6% on average while median return up 1.8% in a day
- Food Retail stocks up 1.5% on average while median return up 1.2% in a week
- Food Retail stocks up 1.8% on average while median return up -1.3% 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 $NAII 11.5%, $SFM 4.6%, $WMK 1.0%, $IMKTA 0.1%
- 1M losers are : Losers for past month are $CASY -1.5%, $WMT -2.8%, $ACI -3.0%, $NGVC -4.2%, $GO -4.3%
- 1W winners are : Winners for past week are $WMK 4.7%, $SFM 4.2%, $IMKTA 3.2%, $GO 2.6%, $KR 2.5%
- 1W losers are : Losers for past week are $ACI -0.1%, $WMT -1.0%, $VLGEA -1.1%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 27.0%, for the past 3 months is 12.5%
In the past month for a 5 days rolling window, the highest corrrelation is 54.1%, the lowest correlation is -5.2%, the latest correlation is 42.3%
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 IMKTA and WMK
The lowest correlation is -31.4% between NAII and WMT
Higher freight costs and lower consumer buying power could hit retailers in the coming months.
The struggling home exercise brand quietly removed the free option, while the fast-fashion retailer saw sales plunge in the first half of the year.
Additionally, Alibaba.com debuted a logistics marketplace to match SMBs with freight forwarders that provide tailored logistics services.
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U.S. retail sales were better than expected in March after returning to a growth trajectory in February.
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