Aggregated price index with volume information
Summary:
- Industrial Services stocks down 0.6% on average while median return down 0.5% in a day
- Industrial Services stocks up 2.0% on average while median return up 2.3% in a week
- Industrial Services stocks down 0.5% on average while median return down 1.0% 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 $NGS 25.4%, $AGX 21.1%, $GEL 16.7%, $ETRN 14.4%, $IESC 13.9%
- 1M losers are : Losers for past month are $RCMT -13.1%, $OIS -14.1%, $ORN -15.2%, $DRQ -23.3%, $BROG -50.5%
- 1W winners are : Winners for past week are $VTNR 45.9%, $AMRC 14.4%, $PESI 11.1%, $IESC 10.3%, $ETRN 9.5%
- 1W losers are : Losers for past week are $ESOA -4.8%, $RUN -7.6%, $BROG -8.0%, $NINE -11.9%, $DWSN -28.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 18.5%, for the past 3 months is 14.9%
In the past month for a 5 days rolling window, the highest corrrelation is 15.2%, the lowest correlation is 2.9%, the latest correlation is 3.2%
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 83.1% between DOV and DY
The lowest correlation is -47.6% between AGX and BKR
Waste Connections Edges Up After Hours as it Posts a Better than Expected Q1 Adjusted Profit
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