Aggregated price index with volume information
- Industrial Services stocks down 1.2% on average while median return down 1.2% in a day
- Industrial Services stocks up 0.6% on average while median return up -0.1% in a week
- Industrial Services stocks up 2.1% on average while median return up 0.4% 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 $GEOS 42.5%, $MTRX 38.3%, $KNOP 36.1%, $NGS 34.8%, $BROG 19.9%
- 1M losers are : Losers for past month are $DM -14.6%, $SDPI -16.5%, $RUN -18.6%, $PESI -22.0%, $MTZ -27.6%
- 1W winners are : Winners for past week are $NGS 16.6%, $RNGR 13.5%, $MTRX 12.9%, $BROG 12.6%, $HDSN 9.9%
- 1W losers are : Losers for past week are $AWX -5.4%, $MTZ -6.0%, $DWSN -6.8%, $AMRC -8.2%, $VSEC -11.5%
Index correlation analysis
Correlation for the past month is 21.8%, for the past 3 months is 15.5%
In the past month for a 5 days rolling window, the highest corrrelation is 31.1%, the lowest correlation is 0.6%, the latest correlation is 23.7%
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 80.8% between BKR and CHX
The lowest correlation is -60.8% between CCLP and CQP
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