Aggregated price index with volume information
Summary:
- Gold Mining and Loyalty stocks up 0.9% on average while median return up 0.9% in a day
- Gold Mining and Loyalty stocks down 1.2% on average while median return down 1.6% in a week
- Gold Mining and Loyalty stocks up 6.5% on average while median return up 6.4% 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 $NG 41.3%, $CMCL 25.5%, $SSRM 20.1%, $SA 17.4%, $HL 16.5%
- 1M losers are : Losers for past month are $WRN -2.6%, $BVN -5.1%, $GLL -6.7%, $HBM -12.4%, $TGB -13.3%
- 1W winners are : Winners for past week are $SA 12.2%, $NG 9.9%, $CMCL 3.6%, $SSRM 3.4%, $WRN 2.8%
- 1W losers are : Losers for past week are $HL -4.2%, $EMX -4.8%, $NUGT -5.5%, $HMY -5.8%, $NGD -9.0%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 42.7%, for the past 3 months is 47.4%
In the past month for a 5 days rolling window, the highest corrrelation is 52.9%, the lowest correlation is 20.3%, the latest correlation is 39.6%
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 100.0% between GLD and GLDM
The lowest correlation is -99.9% between GLD and GLL
Osisko Gold (OR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Cameco's (CCJ) second-quarter results are likely to reflect gains from higher sales volumes and average realized prices as well as contribution from the Westinghouse acquisition.
Hanesbrands, Eldorado Gold and Kinross Gold are part of the Zacks Screen of the Week article.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here is how New Gold (NGD) and Equinox Gold (EQX) have performed compared to their sector so far this year.
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