Aggregated price index with volume information
Summary:
- Information Technology Services stocks up 1.0% on average while median return up 1.0% in a day
- Information Technology Services stocks up 2.3% on average while median return up 2.9% in a week
- Information Technology Services stocks up 7.6% on average while median return up 8.8% 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 $NEON 38.1%, $TZOO 28.7%, $GDYN 26.2%, $INFY 25.1%, $DUOT 21.7%
- 1M losers are : Losers for past month are $PRO -9.5%, $HUBS -13.3%, $GROV -13.3%, $DTST -15.1%, $ACCD -33.4%
- 1W winners are : Winners for past week are $TZOO 18.8%, $ACCD 18.3%, $DUOT 14.7%, $PEGA 12.1%, $TRU 11.5%
- 1W losers are : Losers for past week are $APCX -8.3%, $ANY -9.3%, $SQ -11.6%, $DTST -11.6%, $APPF -12.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 19.1%, for the past 3 months is 10.5%
In the past month for a 5 days rolling window, the highest corrrelation is 33.8%, the lowest correlation is 1.7%, the latest correlation is 23.2%
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 82.2% between ALRM and FSLY
The lowest correlation is -44.7% between CLPS and FIVN
Leidos Holdings, Inc. (NYSE:LDOS) today announced that its Board of Directors has declared a quarterly cash dividend of $0.38 per outstanding share of common stock of Leidos Holdings, Inc. The cash dividend is payable on September 27, 2024, to stockholders of record as of the close of business on September 13, 2024.
Parsons' (PSN) second-quarter 2024 earnings and revenues are expected to increase year over year.
MediaAlpha (MAX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
CommVault's (CVLT) Q1 fiscal 2025 results are expected to benefit from steady demand for its cyber resilience and data protection solutions, as well as growth in subscription revenues.
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The stock market remained split, with small caps leading and the Nasdaq tumbling, led by Google and Tesla.
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Q2 2024 SS&C Technologies Holdings Inc Earnings Call
Shares of the German software giant hit a record high based on its cloud software sales, even as investors sour on flashier ‘Magnificent Seven’ group of technology stocks.