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Metal Fabrication$112.19
-1.24%4:00PM 10/19/2020

Aggregated price index

Aggregated price index with volume information

Summary:

  • Metal Fabrication stocks down 1.2% on average while median return down 0.3% in a day
  • Metal Fabrication stocks down 0.3% on average while median return down 2.4% in a week
  • Metal Fabrication stocks up 5.9% on average while median return up 2.0% 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 is based on equal weighted constituencies returns,Aggregated volume information is based on sum of all constituencies volumes

Index Constituencies
  • 1M winners are : Winners for past month are $AP 37.4%, $SGBX 36.7%, $SIM 19.9%, $PKOH 16.4%, $NWPX 12.0%
  • 1M losers are : Losers for past month are $BOOM -3.1%, $ROLL -3.7%, $HCHC -6.4%, $CIX -6.4%, $CRS -8.6%
  • 1W winners are : Winners for past week are $SGBX 26.0%, $AP 24.1%, $GIFI 5.2%, $ARNC 4.7%, $CVR 4.2%
  • 1W losers are : Losers for past week are $MATW -6.0%, $CIX -8.1%, $ROCK -8.2%, $CMC -9.1%, $INS -12.0%
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Correlation Analysis

Index correlation analysis

Correlation for the past month is 30.5%, for the past 3 months is 25.4%

In the past month for a 5 days rolling window, the highest corrrelation is 53.6%, the lowest correlation is 5.7%, the latest correlation is 21.6%

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 88.2% between HSC and MATW

The lowest correlation is -75.7% between CIX and SVT

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