Aggregated price index
Aggregated price index with volume information
- Oilfield Services/Equipment stocks down 2.8% on average while median return down 3.4% in a day
- Oilfield Services/Equipment stocks up 4.7% on average while median return up 2.0% in a week
- Oilfield Services/Equipment stocks up 19.1% on average while median return up 12.5% 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 $ENG 293.7%, $TTI 69.3%, $NR 46.2%, $OII 40.4%, $KLXE 37.8%
- 1M losers are : Losers for past month are $MIND -12.1%, $NGS -14.6%, $FTK -20.2%
- 1W winners are : Winners for past week are $ENG 45.7%, $TTI 23.8%, $CCLP 20.2%, $KLXE 18.3%, $PFIE 15.4%
- 1W losers are : Losers for past week are $DOV -3.1%, $PUMP -4.5%, $NGS -6.8%, $WHD -7.8%, $RCON -14.6%
Index correlation analysis
Correlation for the past month is 31.3%, for the past 3 months is 36.7%
In the past month for a 5 days rolling window, the highest corrrelation is 51.8%, the lowest correlation is 9.5%, the latest correlation is 44.4%
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 85.0% between HLX and LBRT
The lowest correlation is -80.4% between CKH and MIND
Energy stocks used to make up more than 10% of the S&P 500. After trailing again in 2020, energy stocks are up 18% in the first two weeks of 2021, even though the S&P 500 is only up 1%. Thomas Lee, head of research at Fundstrat Global Advisors, thinks that energy stocks could benefit from the same change in investor sentiment that helped drive (TSLA) (ticker: TSLA) in 2020—a “fear of missing out,” or FOMO, on a new investment theme after a long period of underinvestment.
Halliburton (HAL) deploys the industry's first electric grid-powered fracturing operation for Cimarex (XEC) and aims to offer low carbon-intensive solutions for the entire energy industry.
The Zacks Analyst Blog Highlights: Kinder Morgan, Apache Corp, Whiting Petroleum, Oceaneering International and Petrobras
Energy infrastructure provider Kinder Morgan's (KMI) Permian Highway Pipeline entered service, while upstream operator Apache (APA) announced the creation of a new holding-company structure.
FLIR Systems, Inc. (NASDAQ: FLIR) - Teledyne Technologies Incorporated (NYSE: TDY)
The SPACs Attack show airs live on Benzinga YouTube Monday through Friday at 11 a.m. EST breaking down SPAC news and deals, and interviewing CEOs. Here is a look back at some of the important SPAC news for the week ending January 8.SPAC Deals: The big deal of the week was SoFi announcing a merger with Social Capital Hedosophia Holdings Corp V (NYSE: IPOE). The show confirmed the deal live on air Thursday.SoFi offers loan refinancing, mortgages, personal loans, credit cards, insurance, investing ...
Even if the main trend changes to down, traders know that OPEC+ has their back and will adjust production to combat any signs of weaker demand.
Stocks closed at records on Friday as a weaker-than-expected jobs report raised expectations for more economic stimulus. TripAdvisor rose after Deutsche Bank analyst Lloyd Walmsley placed a "Catalyst Call: Buy Idea" on the online travel company while keeping a hold rating.
RPC, Inc. (NYSE: RES) announced today that it will release its financial results for the fourth quarter ended December 31, 2020 on Wednesday, January 27, 2021 before the market opens. In conjunction with its earnings release, the Company will host a conference call to review the Company's financial and operating results on Wednesday, January 27, 2021 at 9:00 a.m. Eastern Time.
Shares of Cardtronics (NASDAQ: CATM) were up more than 15% on Friday afternoon after the nonbank ATM operator said it had received a new, higher buyout offer. The company at that time announced it had received an offer from funds associated with Apollo Global Management (NYSE: APO) and Hudson Executive Capital (NASDAQ: HEC) to acquire its shares for $31 each in cash. Weeks later, the buyers sweetened that offer to $35, valuing Cardtronics at $2.3 billion including debt.