Aggregated price index with volume information
Summary:
- NextGen Driving Tech stocks up 2.4% on average while median return up 1.4% in a day
- NextGen Driving Tech stocks down 2.8% on average while median return down 3.4% in a week
- NextGen Driving Tech stocks down 1.9% on average while median return down 2.5% 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 $TSLA 11.9%, $MVIS 4.7%, $ON 2.9%, $FRSX 1.5%
- 1M losers are : Losers for past month are $NXPI -5.4%, $ALV -8.8%, $NVDA -10.6%, $STM -14.6%, $VOXX -21.1%
- 1W winners are : Winners for past week are $VOXX 7.7%, $FRSX 1.5%, $ALV 1.4%
- 1W losers are : Losers for past week are $NVDA -4.1%, $NXPI -5.8%, $AMBA -6.5%, $TSLA -8.1%, $STM -14.9%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 34.1%, for the past 3 months is 24.1%
In the past month for a 5 days rolling window, the highest corrrelation is 64.9%, the lowest correlation is 0.4%, the latest correlation is 36.4%
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 92.3% between NXPI and ON
The lowest correlation is -33.6% between TSLA and VLDR
Tesla was handed a downgrade to a sell rating on Friday, marking the fourth rating downgrade since the EV giant announced late Tuesday that second-quarter earnings sank more than 40%, worse than expected. Revenue for the quarter topped views, fueled by surging regulatory credits. TSLA edged lower Friday.
This earnings season has provided some nasty surprises from Tesla, Alphabet and others, making it hard for investors to know what to do next.
Alphabet is a premium asset with growth catalysts trading at a discount valuation
On today's episode of Wealth!, host Madison Mills covers the biggest stories impacting the market, from June's PCE data to the Bitcoin 2024 Conference. June Personal Consumption Expenditures (PCE) data came in line with expectations, and Yahoo Finance Senior Reporter Jennifer Schonberger explains that the reading is good news for the Federal Reserve as it continues to tackle inflation. The print provided yet another data point strengthening the possibility of an interest rate cut in September. S...
The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, showed prices rising at its slowest rate in over three years while core PCE data came largely in-line with expectations. Seana Smith and Jared Blikre help investors start the day off right, highlighting the biggest market stories this morning as the three major averages (^DJI, ^IXIC, ^GSPC) digest the June PCE print. Bank of America Securities head of US economics Michael Gapen joins the program t...
The tech bull run riding the "AI tidal wave" is only getting started, Wedbush analysts said
The chip maker’s artificial-intelligence chip market is lackluster, says Bernstein analyst Stacy Rasgon
Billionaire Elon Musk is widely known for taking the lead on multiple ventures while juggling responsibilities as CEO of electric vehicle maker Tesla (TSLA). The Musk umbrella covers his private aerospace company SpaceX, the new AI startup xAI, infrastructure operator The Boring Company, and X which Musk rebranded from Twitter after acquiring it in October 2022. Musk often makes headlines for reasons beyond his business achievements due to his controversial public persona and, more recently, his...
(Bloomberg) -- Mexico’s peso crashed into some formidable global forces this week — Elon Musk, Donald Trump and the Japanese yen.Most Read from BloombergTrump Risks Losing Voters He Needs With Loaded Attacks on HarrisParis Sticks to Olympics Opening Event Plans After Rail SabotageFed’s Favored Price Gauge Rises at Mild Pace, Spending Holds UpHarris Just Showed Why Trump Is So Afraid of HerUS Accuses Famed Short-Seller Andrew Left of Securities FraudThe currency shed more than 2% in the past five
US equities (GSPC, DJI, IXIC) are jumping on Friday as Big Tech seems to be rebounding after a week that saw many investors rotate to small and mid-caps. With new economic data, the Personal Consumption Expenditures Index (PCE), signaling inflation may be under control, many expect the Federal Reserve to make its first interest rate cut in September. Catalyst Funds Co-Founder and CIO David Miller joins Catalysts to give insight into what recent economic data suggests for the Fed, the tech sector...