Aggregated price index with volume information
Summary:
- Motor Vehicles stocks down 1.5% on average while median return down 1.1% in a day
- Motor Vehicles stocks up 1.9% on average while median return up 1.7% in a week
- Motor Vehicles stocks down 1.9% on average while median return down 6.6% 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 $KNDI 29.3%, $NIU 20.6%, $REVG 10.3%, $F 4.8%, $GM 3.7%
- 1M losers are : Losers for past month are $HMC -9.7%, $TM -11.2%, $NIO -13.6%, $XPEV -17.1%, $HOG -22.3%
- 1W winners are : Winners for past week are $TSLA 13.5%, $F 8.1%, $GM 7.5%, $GP 4.0%, $NIO 3.2%
- 1W losers are : Losers for past week are $RACE -0.1%, $XPEV -1.3%, $HMC -2.3%, $TM -2.8%, $HOG -12.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 19.9%, for the past 3 months is 17.0%
In the past month for a 5 days rolling window, the highest corrrelation is 54.9%, the lowest correlation is -6.1%, the latest correlation is 28.6%
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 79.6% between HMC and TM
The lowest correlation is -46.3% between BLBD and KNDI
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Toyota Motor Corp said on Thursday it would invest $1.4 billion in its Princeton facility in Indiana to prepare for assembly of a three-row battery electric SUV. This brings up Toyota's total investment in Indiana to $8 billion and adds up to 340 new jobs at the Japanese automaker. The latest investment comes after the company had said in February it would invest $1.3 billion at its Kentucky facility for electrification efforts, including assembly of a new, three-row battery electric SUV for t...
The latest financing effort follows an additional $1.3 billion investment at its flagship Kentucky facility.
Honda plans to invest $11 billion, with the help of joint venture partners, to build out its electric vehicle efforts in Canada as it prepares for future demand in North America for the automobiles. Honda expects to add at least 1,000 more workers for the two new facilities. There's also plans for a cathode active material and precursor processing plant through a joint venture partnership with POSCO Future M Co. and a separator plant through a joint venture partnership with Asahi Kasei Corp.
Honda wants to sell only electric vehicles by 2040. It’s investing billions of dollars in Canada and the U.S. to make that happen.