Aggregated price index with volume information
Summary:
- Industrial Services stocks up 1.2% on average while median return up 0.9% in a day
- Industrial Services stocks up 1.8% on average while median return up 1.3% in a week
- Industrial Services stocks up 7.0% on average while median return up 5.3% 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 $SOI 55.6%, $NBR 46.2%, $RUN 40.6%, $OII 31.2%, $KLXE 30.4%
- 1M losers are : Losers for past month are $WM -7.4%, $NGL -7.9%, $ORN -8.8%, $KNOP -9.9%, $VTNR -15.1%
- 1W winners are : Winners for past week are $PESI 28.1%, $NBR 24.0%, $RES 17.6%, $TUSK 15.4%, $OII 15.0%
- 1W losers are : Losers for past week are $TDW -5.4%, $RSG -6.5%, $WM -11.6%, $NFE -21.2%, $ORN -24.8%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 20.7%, for the past 3 months is 18.5%
In the past month for a 5 days rolling window, the highest corrrelation is 29.6%, the lowest correlation is 2.8%, the latest correlation is 21.7%
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 89.7% between ACM and AMID
The lowest correlation is -51.6% between AQUA and DRQ
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
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