Aggregated price index with volume information
- Internet Software/Services stocks down 1.2% on average while median return down 1.0% in a day
- Internet Software/Services stocks up 0.5% on average while median return up 0.4% in a week
- Internet Software/Services stocks up 9.8% on average while median return up 4.2% 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 $CXDO 118.1%, $UCL 56.6%, $ANGI 44.3%, $CUEN 39.8%, $YRD 38.1%
- 1M losers are : Losers for past month are $DADA -24.8%, $LU -26.6%, $FTCH -31.4%, $CDLX -41.0%, $TRVG -57.4%
- 1W winners are : Winners for past week are $APPS 19.8%, $EVER 17.4%, $MSTR 14.2%, $DPSI 13.9%, $SNAP 13.7%
- 1W losers are : Losers for past week are $DADA -11.0%, $TRVG -13.6%, $BILI -14.5%, $WB -20.4%, $FTCH -43.8%
Index correlation analysis
Correlation for the past month is 13.1%, for the past 3 months is 14.5%
In the past month for a 5 days rolling window, the highest corrrelation is 50.2%, the lowest correlation is -0.1%, the latest correlation is 14.8%
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 78.4% between AKAM and CARG
The lowest correlation is -43.0% between CDLX and CUEN
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