Aggregated price index with volume information
Summary:
- Medical Specialties stocks down -0.0% on average while median return down -0.4% in a day
- Medical Specialties stocks up 1.6% on average while median return up 1.3% in a week
- Medical Specialties stocks up 9.0% on average while median return up 6.0% 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 $PLSE 71.2%, $CDMO 45.9%, $LNTH 43.5%, $CERS 42.5%, $NTRB 40.0%
- 1M losers are : Losers for past month are $KRMD -13.6%, $IRTC -14.1%, $MASI -17.3%, $EW -31.9%, $DXCM -43.6%
- 1W winners are : Winners for past week are $NSPR 41.2%, $BWAY 22.3%, $CLDX 21.2%, $AXDX 16.1%, $BLFS 14.4%
- 1W losers are : Losers for past week are $ZYXI -11.6%, $ALGN -12.4%, $INSP -12.5%, $EW -27.9%, $DXCM -42.7%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 18.0%, for the past 3 months is 11.6%
In the past month for a 5 days rolling window, the highest corrrelation is 26.6%, the lowest correlation is -0.9%, the latest correlation is 6.5%
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 90.7% between A and BRKR
The lowest correlation is -59.4% between APEN and ATRC
Earnings and guidance disappointed, but the pullback could be an opportunity.
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