Aggregated price index with volume information
Summary:
- Health Insurers stocks up 2.0% on average while median return up 1.0% in a day
- Health Insurers stocks up 4.9% on average while median return up 2.3% in a week
- Health Insurers stocks up 6.0% on average while median return up 4.0% 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 $UNH 17.7%, $EHTH 15.3%, $UHS 12.7%, $MOH 10.2%, $HUM 8.7%
- 1M losers are : Losers for past month are $HQY -2.2%
- 1W winners are : Winners for past week are $UHS 18.2%, $EHTH 17.3%, $MOH 16.3%, $CNC 10.4%, $HQY 10.4%
- 1W losers are : Losers for past week are
Correlation Analysis
Index correlation analysis
Correlation for the past month is 34.5%, for the past 3 months is 30.4%
In the past month for a 5 days rolling window, the highest corrrelation is 58.6%, the lowest correlation is 4.2%, the latest correlation is 13.0%
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 99.8% between CURE and XLV
The lowest correlation is -48.4% between RYH and THQ
Centene posted better-than-expected results and boosted its guidance as it made more from premiums and services and increased members.
UnitedHealth (UNH) is navigating its challenges effectively, maintaining a positive outlook for the future while demonstrating a strong commitment to its clients and shareholders.
HealthEquity's (HQY) sustained strength in HSAs raises optimism about the stock.
Centene's (CNC) second-quarter earnings suffer from rising operating expenses and a decline in Medicaid membership levels. Improved Marketplace membership growth partially offset the negatives.
DexCom's (DXCM) second-quarter 2024 earnings surpass expectations while revenues fall short. The Sensor segment and CGM system expansion drive growth. Shares fall.
Hologic (HOLX) acquires Endomag for $310M, enhancing its breast cancer surgery portfolio with innovative technologies like Magseed and Magtrace, aiming to improve patient care and outcomes globally.
CNC earnings call for the period ending June 30, 2024.
UnitedHealth, The Cigna and Centene are part of the Zacks Industry Outlook article.
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