Aggregated price index with volume information
Summary:
- Radio Networks stocks up 2.2% on average while median return up 2.1% in a day
- Radio Networks stocks up 1.1% on average while median return up 1.9% in a week
- Radio Networks stocks down 8.7% on average while median return down 6.4% 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 $TGNA 8.4%, $TME 6.2%
- 1M losers are : Losers for past month are $IHRT -7.4%, $SSP -15.4%, $CMLS -16.1%, $UONE -26.4%, $UONEK -35.7%
- 1W winners are : Winners for past week are $UONE 16.7%, $IHRT 6.5%, $TV 5.4%, $TGNA 3.6%, $SSP 2.6%
- 1W losers are : Losers for past week are $SGA -0.7%, $TSQ -0.8%, $TME -5.4%, $AMCX -6.5%, $CMLS -12.0%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 16.6%, for the past 3 months is 17.6%
In the past month for a 5 days rolling window, the highest corrrelation is 37.7%, the lowest correlation is -7.6%, the latest correlation is 12.2%
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 64.6% between UONE and UONEK
The lowest correlation is -41.0% between AMCX and SGA
Tencent Music Entertainment Group ( NYSE:TME ) Full Year 2023 Results Key Financial Results Revenue: CN¥27.8b (down...
Tencent Music Entertainment Group ("TME", or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced that Mr. Zhenyu Xie has tendered his resignation from his executive positions as the Company's President, Chief Technology Officer and other relevant roles, along with his position as a member of the board of directors (the "Board"). These resignations, submitted for personal reasons, will take effect on March 31, 2024.
It's been a pretty great week for Tencent Music Entertainment Group ( NYSE:TME ) shareholders, with its shares surging...
Tencent Music Entertainment Group (NYSE: TME) defied expectations with its fourth quarter report. A strong profit growth despite a slight revenue dip is a testament to the company’s strategic agility as growth in paid subscriptions helped offset mixed results in its social media business and the regulatory hit. Moreover, Tencent Music gathered almost as many paid subscribers as both Spotify Technology S.A. (NYSE: SPOT) and Apple Music combined have in the U.S. According to Music Watch’s latest a
Wells Fargo downgraded, Best Buy upgraded: Wall Street's top analyst calls
Q4 2023 Tencent Music Entertainment Group Earnings Call
China's Tencent Music Entertainment Group beat fourth-quarter revenue estimates on Tuesday, driven by growth in paid subscription on its Spotify-like music streaming platform. The audio entertainment platform reported revenue of 6.89 billion yuan ($957.06 million) for the quarter, marking a 7.2% decline as compared to the same period last year. In an earnings call on Wednesday, Cussion Pang, the company’s executive chairman, attributed the growth in subscribers to "the efficient execution of T...
HONG KONG (Reuters) -China's Tencent Music Entertainment Group beat fourth-quarter revenue estimates on Tuesday, driven by growth in paid subscription on its Spotify-like music streaming platform. The audio entertainment platform reported revenue of 6.89 billion yuan ($957.06 million) for the quarter, marking a 7.2% decline as compared to the same period last year. In an earnings call on Wednesday, Cussion Pang, the company’s executive chairman, attributed the growth in subscribers to "the eff...
Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023.
Key Insights The projected fair value for Tencent Music Entertainment Group is US$11.33 based on 2 Stage Free Cash Flow...