Aggregated price index
Aggregated price index with volume information
Summary:
- Forest Products stocks up 2.1% on average while median return up 2.1% in a day
- Forest Products stocks up 5.3% on average while median return up 3.4% in a week
- Forest Products stocks up 7.1% on average while median return up 6.1% 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 $LPX 13.6%, $BCC 12.2%, $OSB 7.9%
- 1M losers are : Losers for past month are
- 1W winners are : Winners for past week are $OSB 11.4%, $LPX 9.0%, $TREX 4.3%
- 1W losers are : Losers for past week are
Correlation Analysis
Index correlation analysis
Correlation for the past month is 56.8%, for the past 3 months is 59.2%
In the past month for a 5 days rolling window, the highest corrrelation is 83.9%, the lowest correlation is -0.9%, the latest correlation is -0.9%
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 80.4% between LPX and OSB
The lowest correlation is 34.0% between TREX and UFPI
Stock news
Moody's Investors Service, ("Moody's") says that West Fraser Timber Co. Ltd. (West Fraser, Baa3 negative) announcement yesterday that it has signed an agreement to acquire Norbord Inc. (Norbord, Ba1 stable), the world's largest oriented strand board (OSB) producer, in a stock-for-stock transaction valued at approximately $3.1 billion is credit positive. The deal is credit positive because Norbord's panel business will significantly improve West Fraser's scale, geographic and operational diversi...
(Bloomberg) -- A Canadian lumber giant agreed to spend about C$4 billion ($3.1 billion) to buy the world’s biggest maker of a plywood substitute, tapping into the high demand for wood products during a pandemic-fueled surge in homebuilding.West Fraser Timber Co. Ltd. has long sought to expand into oriented strand board, an inexpensive plywood substitute that’s mostly used in residential construction. The Vancouver-based company’s focus on the housing industry -- which drives wood consumption -- ...
Wood-products company Norbord definitively agreed to be bought by West Fraser in an all-stock deal valued at C$4 billion (US$3.1 billion).
West Fraser Timber Co. Ltd. ("West Fraser") (TSX: WFT) and Norbord Inc. ("Norbord") (TSX: OSB) (NYSE: OSB) today announced that they have entered into a strategic business combination pursuant to which West Fraser, a leading North American diversified wood products company will acquire all of the outstanding common shares of Norbord, the world's largest OSB producer, in an all-stock transaction valued at approximately C$4.0 billion (US $3.1 billion) (the "Transaction"). Following closing, the co...
GRAND RAPIDS, Mich., Nov. 16, 2020 (GLOBE NEWSWIRE) -- UFP Industries (Nasdaq: UFPI) today announced that affiliates of UFP Construction LLC acquired the assets of three companies: Atlantic Prefab, Inc.; Exterior Designs, LLC; and Patriot Building Systems, LLC. The companies, which had combined trailing 12-month sales through September of approximately $28 million, serve the commercial and multi-family construction markets in the Northeast. The operational leadership of the companies will remain...
Project expands longstanding recycling partnership which has transformed more than 200 million pounds of plastic film into durable, sustainable building material Medication bottles from Albertsons Companies pharmacies are prepped for recycling. The pharmacies have diverted more than 54,000 pounds of bulk medication dispensing bottles from landfills. Trex Company recycles the plastic to produce wood-alternative, environmentally friendly composite decking. The final product. Bulk medication dis...
Trex® Company (NYSE: TREX), the world’s 1 brand of wood-alternative decking and railing and leader in high-performance, low-maintenance outdoor living products, was named to FORTUNE Magazine’s 2020 list of the 100 fastest-growing companies worldwide. Trex captured spot 57 and was the highest-ranked building materials manufacturer on this year’s list.
GRAND RAPIDS, Mich., Nov. 05, 2020 (GLOBE NEWSWIRE) -- UFP Industries (Nasdaq: UFPI) today announced that its affiliate, UFP Global Holdings, has completed an equity investment in Enwrap Logistic & Packaging S.r.l. (Enwrap). Enwrap is a newly formed company dedicated to the logistics and packaging business of its predecessor, Job Service S.p.A. Headquartered in Milan, Italy, Enwrap provides high-value, mixed material industrial packaging and logistics services through eight locations in Italy. T...
Shares of Trex Co (NYSE:TREX) moved higher by 0.35% in after-market trading after the company reported Q3 results.Quarterly Results Earnings per share decreased 43.06% year over year to $0.41, which beat the estimate of $0.37.Revenue of $231,502,000 up by 18.99% from the same period last year, which beat the estimate of $221,650,000.Outlook Earnings guidance hasn't been issued by the company for now.Q4 revenue expected between $210,000,000 and $220,000,000.Details Of The Call Date: Nov 02, 2020V...
Trex Company, Inc. (NYSE:TREX), the world’s number-one brand of composite decking and railing and leader in high-performance, low-maintenance outdoor living products, and a leading national provider of custom-engineered railing and staging systems, today reported financial results for the third quarter ended September 30, 2020.