Aggregated price index
Aggregated price index with volume information
- Permian Producers and Pipelines stocks down 2.0% on average while median return down 1.8% in a day
- Permian Producers and Pipelines stocks down 4.2% on average while median return down 3.2% in a week
- Permian Producers and Pipelines stocks down 8.2% on average while median return down 8.2% 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 is based on equal weighted constituencies returns,Aggregated volume information is based on sum of all constituencies volumes
- 1M winners are : Winners for past month are $AR 25.9%, $ARES 12.3%, $MCF 2.3%, $TRGP 0.2%
- 1M losers are : Losers for past month are $OXY -17.1%, $PSX -18.9%, $LPI -24.6%, $APA -27.1%, $SM -28.3%
- 1W winners are : Winners for past week are $CXO 5.6%, $ARES 2.5%, $PAA 1.3%, $PAGP 0.6%, $XEC 0.5%
- 1W losers are : Losers for past week are $LPI -9.1%, $DVN -10.2%, $FANG -10.2%, $SM -11.1%, $WPX -11.3%
Index correlation analysis
Correlation for the past month is 58.4%, for the past 3 months is 53.6%
In the past month for a 5 days rolling window, the highest corrrelation is 72.5%, the lowest correlation is 27.2%, the latest correlation is 66.2%
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 99.0% between PAA and PAGP
The lowest correlation is -49.4% between AR and NBL
ConocoPhillips will buy Permian Basin shale company Concho Resources in the largest energy deal so far this year.
(Bloomberg) -- Oil in New York fell slightly under $41 a barrel after the OPEC+ Joint Ministerial Monitoring Committee made no mention of any changes to a plan to further ease oil-output cuts from January.Still, Saudi Oil Minister Prince Abdulaziz Bin Salman called on the OPEC+ alliance to be proactive in the face of uncertain demand, providing some reassurance for the market. Traders also are looking for signs that lawmakers in Washington can agree on a stimulus deal ahead of the election while...
Concho Resources is an independent oil and natural gas company with operations primarily in the Permian Basin of western Texas and southeastern New Mexico. At the end of 2019, it reported proved reserves of 1.0 billion barrels of oil equivalent. Net production averaged about 331 thousand boe per day in 2018, of which 63% was oil (with natural gas and natural gas liquids making up the remainder).
Enbridge is an energy generation, distribution, and transportation company in the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company. Additionally, Enbridge generates renewable and alternative energy with 2,000 megawatts of capacity.
HOUSTON, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Targa Resources Corp. (“Targa” or the “Company”) (NYSE: TRGP) announced its quarterly dividend on common shares and its quarterly dividend on Series A preferred shares with respect to the third quarter of 2020. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.10 per common share, or $0.40 per common share on an annualized basis, for the third quarter of 2020. This cash dividend will be paid November 16, 202...