Aggregated price index with volume information
Summary:
- Oil & Gas Production stocks down 0.0% on average while median return down -0.1% in a day
- Oil & Gas Production stocks down 1.4% on average while median return down 1.6% in a week
- Oil & Gas Production stocks up 0.4% on average while median return up 0.6% 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 $PVL 43.0%, $REI 20.0%, $EGY 14.3%, $VNOM 13.3%, $WTI 13.3%
- 1M losers are : Losers for past month are $GPRK -8.2%, $GTE -8.8%, $EQT -9.1%, $AR -10.0%, $BPT -32.1%
- 1W winners are : Winners for past week are $BRN 7.8%, $EGY 7.5%, $PARR 7.4%, $FRHC 3.3%, $HUSA 2.5%
- 1W losers are : Losers for past week are $BATL -5.5%, $MXC -7.3%, $VIST -7.5%, $BTE -7.5%, $BPT -24.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 20.0%, for the past 3 months is 23.0%
In the past month for a 5 days rolling window, the highest corrrelation is 39.5%, the lowest correlation is 1.6%, the latest correlation is 17.3%
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 90.4% between APA and DVN
The lowest correlation is -56.6% between CPG and CRT
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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