Aggregated price index
Aggregated price index with volume information
Summary:
- Gun stocks down 3.0% on average while median return down 4.0% in a day
- Gun stocks down 1.1% on average while median return down 4.6% in a week
- Gun stocks up 6.1% on average while median return up -2.4% 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 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 $AAXN 23.7%
- 1M losers are : Losers for past month are $VSTO -3.4%
- 1W winners are : Winners for past week are $AAXN 7.0%
- 1W losers are : Losers for past week are $RGR -5.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 37.7%, for the past 3 months is 42.5%
In the past month for a 5 days rolling window, the highest corrrelation is 73.1%, the lowest correlation is -7.5%, the latest correlation is 48.5%
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 RGR and VSTO
The lowest correlation is 12.2% between AAXN and RGR
Stock news
Gun stock investors don't care about the vaccine -- it's the election that has them worried.
Shares of firearm and outdoor products-maker Vista Outdoor (NYSE: VSTO) are up 7% today as of 3:10 p.m. EST, after the company reported its fiscal year 2021 second-quarter results. For the quarter ended Sept. 27, 2020, Vista said sales in shooting sports rose 26% compared to the prior-year period, and jumped 35% in its outdoor-products category. Vista's brands include Bushnell, CamelBak, and Remington, which the company acquired last month.
With firearms sales this year obliterating all previous records, it's not surprising ammunition maker Vista Outdoor (NYSE: VSTO) saw sales jump in the fiscal second quarter. Because outdoor product sales also surged 35% to $195 million as people sought out entertainment activities that allowed them to socially distance, Vista notched an especially robust quarter even in the midst of a pandemic. The FBI has conducted over 32 million criminal background checks on potential gun buyers in 2020, al...
The final votes are being counted, and investors are on the edge of their seats, waiting to see who the next U.S. president will be. Despite the unclear outlook, stocks were up sharply on Wednesday, with the Nasdaq leading the way at 3.85%. Some view the race to the White House, regardless of the outcome, as a binary event, with stocks typically reacting negatively to these events. Thus, the election’s resolution could remove significant uncertainty that has been weighing on investors for the la...
Shares of gun makers rallied on election day, to outperform the broader stock market, which suggests investors may be anticipating a Biden victory.
According to a survey conducted by nonprofit Braver Angels, 70% of Americans believe that "If the wrong candidate wins, America will not recover." There are certain stocks that look poised to go up if President Donald Trump wins and another group that is likely to benefit if Democratic nominee Joe Biden wins. Investors fearing chaos and violence spiraling from the election should take a look at gun stocks like Sturm, Ruger (NYSE: RGR) and Smith & Wesson Brands (NASDAQ: SWBI), two publicly trad...
Fears of civil unrest, especially surrounding the November election, have triggered a run on guns and ammunition. With no sign of abating, it’s time to reset a trade we recommended in April.