Aggregated price index with volume information
Summary:
- Industrial Machinery stocks down 1.3% on average while median return down 1.0% in a day
- Industrial Machinery stocks up 0.2% on average while median return up 0.6% in a week
- Industrial Machinery stocks down 3.7% on average while median return down 4.4% 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 $NISN 73.8%, $TAYD 20.1%, $BMI 16.7%, $VTSI 11.8%, $HLIO 5.2%
- 1M losers are : Losers for past month are $GRC -18.4%, $DDD -19.3%, $FCEL -23.5%, $GTEC -27.3%, $BIMI -42.9%
- 1W winners are : Winners for past week are $NISN 55.1%, $TAYD 12.4%, $CARR 12.0%, $DOV 6.2%, $AAON 5.5%
- 1W losers are : Losers for past week are $VTSI -9.3%, $FCEL -9.5%, $GRC -12.7%, $BIMI -15.7%, $CREG -17.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 20.9%, for the past 3 months is 19.1%
In the past month for a 5 days rolling window, the highest corrrelation is 35.0%, the lowest correlation is 17.5%, the latest correlation is 26.4%
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 95.3% between GGG and GRC
The lowest correlation is -81.9% between CIR and GRC
CHICAGO, April 25, 2024--JBT Corporation (NYSE: JBT) will report first quarter 2024 financial results after the market closes on Wednesday, May 1, 2024. A conference call is scheduled for 09:30 a.m. ET on Thursday, May 2, 2024.
WESTFORD, Mass., April 25, 2024 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) announced it will release its 2024 first quarter results after the market closes on Tuesday, April 30, 2024 and will hold a webcast the next day, Wednesday, May 1, 2024 at 11:00 a.m. eastern time. During the call the Company will discuss its first quarter financial performance and future expectations. To listen to the live call and view the webcast, go to the “Investors” section of the Company’s website at www.kadant.com
Profitability improvements help push earnings higher in the quarter.
Carrier's (CARR) first-quarter 2024 results reflect strength in the HVAC segment.
Weakness in the Safety and Industrial unit is likely to dent 3M's (MMM) first-quarter 2024 results. However, strength in the Transportation and Electronics unit is expected to provide some relief.
Plexus's (PLXS) fiscal second-quarter performance is affected due to weakness in the Healthcare/Life Sciences and Industrial sectors.
Fortive's (FTV) first-quarter revenues increase year over year due to continued momentum in the Fortive Business System.
Stocks like Xerox Holdings Corporation (XRX), Lakeland Industries, Inc. (LAKE), Chart Industries, Inc. (GTLS), Applied Industrial Technologies, Inc. (AIT) and Hubbell Incorporated (HUBB) are likely to benefit from the rebound in manufacturing activity.
Texas Instrument's (TXN) first-quarter 2024 results reflect the impacts of widespread weakness in various end markets on the Analog segment.
Lam Research's (LRCX) fiscal third-quarter results reflect the impacts of sluggish memory spending.