Aggregated price index with volume information
Summary:
- General Medical and Surgical Hospitals stocks up 0.2% on average while median return up 0.5% in a day
- General Medical and Surgical Hospitals stocks up 2.6% on average while median return up 3.5% in a week
- General Medical and Surgical Hospitals stocks up 9.1% on average while median return up 12.1% 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 (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 $MD 36.4%, $CYH 32.9%, $UHS 24.8%, $THC 18.9%, $PNTG 18.0%
- 1M losers are : Losers for past month are $SGRY -0.3%, $RHE -10.6%, $SEM -13.5%
- 1W winners are : Winners for past week are $UHS 5.2%, $PNTG 4.8%, $THC 4.4%, $ACHC 4.0%, $MD 3.9%
- 1W losers are : Losers for past week are $RHE -1.5%, $SGRY -2.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 26.5%, for the past 3 months is 28.2%
In the past month for a 5 days rolling window, the highest corrrelation is 53.4%, the lowest correlation is 1.1%, the latest correlation is 21.7%
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 72.2% between CYH and UHS
The lowest correlation is -27.1% between EHC and MD
Pediatrix Medical Group (MD) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
This year, The Joint (JYNT) intends to open 60-70 new franchised clinics compared with 104 opened last year.
Acadia Healthcare (ACHC) remains well-poised for growth on the back of the solid demand for behavioral healthcare services, continuous pursuit of expansion initiatives and a notable financial position.
If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Pediatrix Medical Group (MD) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.
The stock market is currently in a rotation. Traders are moving capital from aggressive growth and technology names to find safety in other sectors of the market. Healthcare has been one of the beneficiaries of this switch. People tend to get sick and need medical care regardless of what’s going on with the economy. In addition, America’s aging demographics will invariably lead to higher healthcare spending over time. While the long-term case for healthcare makes sense, valuations are starting t
Pediatrix Medical Group ( NYSE:MD ) Second Quarter 2024 Results Key Financial Results Revenue: US$504.3m (flat on 2Q...
Conference Call and Webcast scheduled for tomorrow, August 7, 2024 at 10:00 am MTEAGLE, Idaho, Aug. 06, 2024 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice and senior living companies, today announced its operating results for the second quarter of 2024, reporting GAAP diluted earnings per share of $0.18 for the second quarter of 2024. Pennant also reported adjusted diluted earnings per share of $0.24 for the
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FORT LAUDERDALE, Fla., August 06, 2024--Pediatrix Medical Group Reports Second Quarter Results
Acadia Healthcare's (ACHC) Q2 results reflect higher revenue per patient day and increased patient days. It currently estimates 2024 adjusted EPS within $3.45-$3.65 compared with the earlier view of $3.40-$3.70.