Aggregated price index with volume information
- Gold Mining and Loyalty stocks down 1.8% on average while median return down 1.8% in a day
- Gold Mining and Loyalty stocks down 1.7% on average while median return down 1.7% in a week
- Gold Mining and Loyalty stocks up 7.1% on average while median return up 2.2% 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 $SILV 25.9%, $HMY 20.9%, $EGO 14.6%, $ASA 12.0%, $BVN 10.2%
- 1M losers are : Losers for past month are $BTG -3.9%, $SSRM -6.8%, $TGB -6.9%, $IAG -8.5%, $FNV -13.8%
- 1W winners are : Winners for past week are $USAU 7.5%, $SILV 7.2%, $ASA 3.4%, $DZZ 3.1%, $HBM 2.5%
- 1W losers are : Losers for past week are $SA -6.4%, $IAG -7.0%, $NGD -7.5%, $DRD -8.1%, $FNV -9.1%
Index correlation analysis
Correlation for the past month is 47.1%, for the past 3 months is 42.7%
In the past month for a 5 days rolling window, the highest corrrelation is 60.7%, the lowest correlation is 28.6%, the latest correlation is 54.3%
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 100.0% between GLD and GLDM
The lowest correlation is -99.9% between GLD and GLL
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The stock price has rallied in recent weeks as gold prices have been surging higher. The On-Balance-Volume (OBV) line has been rising for much of the past year and has made a new high for the move up. A strong OBV line tells me that buyers of EGO have been more aggressive than sellers.