Aggregated price index with volume information
Summary:
- Gig Economy stocks up 0.3% on average while median return up 0.2% in a day
- Gig Economy stocks down 1.8% on average while median return down 0.9% in a week
- Gig Economy stocks down 6.1% on average while median return down 8.3% 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
- 1M losers are : Losers for past month are $UBER -9.1%
- 1W winners are : Winners for past week are
- 1W losers are : Losers for past week are $UBER -4.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 57.5%, for the past 3 months is 35.4%
In the past month for a 5 days rolling window, the highest corrrelation is 85.1%, the lowest correlation is -30.7%, the latest correlation is 46.8%
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 83.2% between LYFT and UBER
The lowest correlation is 43.1% between FVRR and LYFT
The California Supreme Court on Thursday upheld a ballot measure that allows app-based companies like Uber and Lyft to classify drivers as independent contractors. The court ruled that the state's 2020 Proposition 22 is constitutional. The ballot measure allows companies such as Uber, Lyft and DoorDash to classify their employees as independent contractors.
Finding stocks expected to beat quarterly earnings estimates becomes an easier task with our Zacks Earnings ESP.
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Lyft (NASDAQ:LYFT) and the rest of the gig economy stocks fared in Q1.
The California Supreme Court ruled Thursday that app-based ride-hailing and delivery services like Uber and Lyft can continue treating their drivers as independent contractors rather than employees. The unanimous decision by the state's top court is a big win for tech giants. It also ends a yearslong legal battle between labor unions and tech companies over a law dictating the status of app-based service workers in the state.
California’s top state court on Thursday upheld a measure approved by voters allowing app-based services such as Uber and Lyft to consider drivers in the most populous U.S. state as independent contractors rather than as employees entitled to greater benefits.
Fiverr International (FVRR) closed the most recent trading day at $22.11, moving -0.54% from the previous trading session.
You can now order Costco items through Uber Eats. Although convenient, it's a bad money move for most people. Find out why.
The California Supreme Court unanimously upheld the exemption from independent contractor law AB5 that Prop 22 granted to gig drivers. The post California Supreme Court upholds AB5 exemption for gig workers appeared first on FreightWaves.
The California Supreme Court on Thursday upheld a ballot measure that allows app-based companies like Uber and Lyft to classify drivers as independent contractors. The court ruled that the state's 2020 Proposition 22 was constitutional. The ballot measure allows companies such as Uber, Lyft and DoorDash to classify their employees as independent contractors.
Today, Everlance and Lyft announce a strategic partnership to better serve the rideshare driver ecosystem.