Aggregated price index with volume information
Summary:
- Railroads stocks up 3.7% on average while median return up 2.1% in a day
- Railroads stocks up 0.1% on average while median return up -1.1% in a week
- Railroads stocks up 5.9% on average while median return up 4.0% 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 $NSC 16.3%, $UNP 7.5%
- 1M losers are : Losers for past month are $CNI -2.4%
- 1W winners are : Winners for past week are $NSC 8.5%
- 1W losers are : Losers for past week are $CP -1.5%, $CNI -4.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 64.7%, for the past 3 months is 60.0%
In the past month for a 5 days rolling window, the highest corrrelation is 93.4%, the lowest correlation is -4.3%, the latest correlation is 80.6%
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 79.3% between CSX and UNP
The lowest correlation is 44.9% between CP and NSC
A pick up in intermodal and vehicle shipment volumes combined with higher pricing are expected to blunt the impact from slowing coal demand on second-quarter earnings for US railroad companies. There has been a sequential improvement in industry carloads, led by intermodal, which involves shipping goods via two or more modes of transportation, and automotive shipments, analysts said, even as the industry grapples with an overall freight downturn underway since 2022. "International intermodal a...
Canadian National's (CNI) Q2 results benefit from higher volumes.
Analysts Lower Price Targets on CN Rail, Stock Declines 5% Following Q2 Results
MONTREAL, July 24, 2024 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) today announced a commitment of $1.5 million through a three-year partnership with Hockey Helps the Homeless (HHTH). Starting with the 2024-2025 hockey season, CN will become the new Premier National Partner for HHTH to help raise awareness and financial support for people experiencing homelessness through education, fundraising, and partnering with solutions-based local shelters and services. In addition to assuming the role
Union Pacific, Norfolk Southern, Southwest Airlines and American Airlines are part of the Zacks Top Analyst Blog.
CN Rail Price Target Lowered to $170 at CIBC
Freight transportation company Union Pacific (NYSE:UNP) will be reporting results tomorrow before market hours. Here's what to expect.
Freight transportation company Norfolk Southern (NYSE:NSC) will be reporting earnings tomorrow after market close. Here's what investors should know.
CN Rail Down 4% After Hours as Q2 Results Miss Expectations and It Trims its Guidance
MONTREAL, July 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved a third-quarter 2024 dividend on the Company’s common shares outstanding. A quarterly dividend of eighty-four and a half cents (C$0.8450) per common share will be paid on September 27, 2024, to shareholders of record at the close of business on September 6, 2024. About CNCN powers the economy by safely transporting more than 300 million tons of natural resources, manufac