Aggregated price index with volume information
Summary:
- Lithium stocks up 0.7% on average while median return up 0.6% in a day
- Lithium stocks up 0.8% on average while median return up 1.1% in a week
- Lithium stocks up 11.4% on average while median return up 3.3% 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 $LAC 41.3%, $FMC 24.2%, $SQM 6.8%
- 1M losers are : Losers for past month are $ALB -0.2%, $PLL -4.1%, $SLI -5.6%
- 1W winners are : Winners for past week are $ALB 5.5%, $LAC 4.9%, $PLL 2.8%
- 1W losers are : Losers for past week are $SQM -0.7%, $FMC -1.9%, $SLI -6.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 36.5%, for the past 3 months is 34.6%
In the past month for a 5 days rolling window, the highest corrrelation is 68.3%, the lowest correlation is 23.0%, the latest correlation is 27.3%
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 85.2% between ALB and SQM
The lowest correlation is -15.8% between FMC and LTHM
Key Insights Given the large stake in the stock by institutions, Piedmont Lithium's stock price might be vulnerable to...
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