Aggregated price index with volume information
- Iron Ore Mining stocks down 2.9% on average while median return down 2.8% in a day
- Iron Ore Mining stocks down 1.8% on average while median return down 1.8% in a week
- Iron Ore Mining stocks down 0.9% on average while median return down 3.6% 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 $CLF 10.4%
- 1M losers are : Losers for past month are $BHP -4.0%, $RIO -4.1%
- 1W winners are : Winners for past week are $CLF 0.1%
- 1W losers are : Losers for past week are $RIO -3.1%, $BHP -3.9%
Index correlation analysis
Correlation for the past month is 47.7%, for the past 3 months is 60.3%
In the past month for a 5 days rolling window, the highest corrrelation is 73.7%, the lowest correlation is -0.6%, the latest correlation is 71.6%
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 87.4% between BHP and RIO
The lowest correlation is 2.0% between CLF and VALE
In this piece, we will take a look at the 12 best gold mining stocks to buy according to analysts. If you want to skip our overview of the latest trends in the world of gold and minerals, then you can take a look at the 5 Best Gold Mining Companies to Invest In According […]
The world’s biggest miner says it could mothball its big Nickel West operation if prices of the battery metal don’t improve.
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According to the average brokerage recommendation (ABR), one should invest in Rio Tinto (RIO). It is debatable whether this highly sought-after metric is effective because Wall Street analysts' recommendations tend to be overly optimistic. Would it be worth investing in the stock?
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PERTH, Australia, February 08, 2024--Australia’s two largest iron ore producers and its biggest steelmaker have partnered in their efforts to accelerate the decarbonisation of steelmaking by agreeing to jointly investigate the development of the country’s first ironmaking Electric Smelting Furnace1 (ESF) pilot plant.