Aggregated price index
Aggregated price index with volume information
- The momentum of the sector is very strong.
- Mineral Rights stocks up 0.3% on average while median return up -1.5% in a day
- Mineral Rights stocks up 6.5% on average while median return up 6.3% in a week
- Mineral Rights stocks up 15.4% on average while median return up 15.7% 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 $BSM 16.6%
- 1M losers are : Losers for past month are
- 1W winners are : Winners for past week are $DMLP 7.7%
- 1W losers are : Losers for past week are
Index correlation analysis
Correlation for the past month is 50.9%, for the past 3 months is 50.6%
In the past month for a 5 days rolling window, the highest corrrelation is 92.1%, the lowest correlation is 4.5%, the latest correlation is 83.0%
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 74.3% between DMLP and VNOM
The lowest correlation is 27.5% between BSM and DMLP
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