Aggregated price index with volume information
- Packaged Software stocks up 0.5% on average while median return up 0.3% in a day
- Packaged Software stocks up 0.4% on average while median return up 0.5% in a week
- Packaged Software stocks down 5.9% on average while median return down 6.1% 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 $ESTC 33.7%, $AYX 28.0%, $NTNX 13.2%, $VSTA 12.8%, $CRWD 12.2%
- 1M losers are : Losers for past month are $XAIR -28.5%, $SMSI -30.5%, $PHR -33.9%, $FTHM -36.2%, $RNLX -47.7%
- 1W winners are : Winners for past week are $TLS 23.8%, $ZDGE 14.7%, $PLTR 13.2%, $ICAD 11.6%, $DAO 10.1%
- 1W losers are : Losers for past week are $FTHM -10.5%, $CREX -12.9%, $OPRA -13.0%, $XAIR -13.2%, $RNLX -26.6%
Index correlation analysis
Correlation for the past month is 13.2%, for the past 3 months is 16.2%
In the past month for a 5 days rolling window, the highest corrrelation is 34.3%, the lowest correlation is 1.5%, the latest correlation is 14.3%
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 77.6% between ADBE and CDNS
The lowest correlation is -60.6% between ALIT and APPN
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