Aggregated price index with volume information
Summary:
- Oil Refining/Marketing stocks up 1.1% on average while median return up 0.7% in a day
- Oil Refining/Marketing stocks up 2.9% on average while median return up 3.5% in a week
- Oil Refining/Marketing stocks up 0.4% on average while median return up 1.5% 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 $VLO 3.6%, $UGP 3.3%, $TRGP 3.2%, $CVI 2.3%, $PARR 1.8%
- 1M losers are : Losers for past month are $MPC -0.9%, $TGS -2.7%, $DK -3.1%, $PBF -10.6%
- 1W winners are : Winners for past week are $CVI 11.0%, $DK 10.6%, $PARR 7.4%, $VLO 7.3%, $MPC 4.5%
- 1W losers are : Losers for past week are $UGP -2.6%, $AE -2.9%, $TRGP -3.5%, $WES -5.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 18.8%, for the past 3 months is 27.9%
In the past month for a 5 days rolling window, the highest corrrelation is 36.7%, the lowest correlation is -2.1%, the latest correlation is 11.5%
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 88.6% between PARR and PBF
The lowest correlation is -38.9% between CVI and WES
Valero's (VLO) Q2 earnings and revenues beat estimates on soaring refining throughput volumes, partially offset by lower margins.
Refining turnaround costs and higher input expenses are likely to have hurt Phillips 66's (PSX) Q2 earnings.
Income investors hunting for a steady income stream should consider including high-yielding energy stocks in their portfolios considering that the sector remains the cheapest in the U.S. market
CVR (CVI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Higher crude oil prices outpaced refined product price increases in Q2, potentially squeezing Valero Energy's (VLO) margins and affecting its quarterly performance.
Investors need to pay close attention to Marathon Petroleum (MPC) stock based on the movements in the options market lately.
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