Aggregated price index with volume information
Summary:
- Railroads stocks up 0.5% on average while median return up 0.4% in a day
- Railroads stocks down 1.6% on average while median return down 1.6% in a week
- Railroads stocks down 4.4% on average while median return down 5.8% 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
- 1M losers are : Losers for past month are $NSC -7.6%, $CSX -8.7%
- 1W winners are : Winners for past week are
- 1W losers are : Losers for past week are $NSC -1.8%, $CSX -2.8%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 70.9%, for the past 3 months is 58.7%
In the past month for a 5 days rolling window, the highest corrrelation is 88.6%, the lowest correlation is 15.5%, the latest correlation is 72.0%
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 88.6% between CNI and CP
The lowest correlation is 57.0% between CNI and CSX
American Airlines' (AAL) passenger revenues are likely to have been high in Q1, boosting the top line.
A top federation of U.S. labor unions has urged Norfolk Southern shareholders to vote against Ancora's director candidates, arguing the hedge fund's plans for the railroad would compromise safety and improvements being considered. "Ancora's proposed strategy for Norfolk Southern is "not fit for purpose" and the election of Ancora's proposed directors will derail the safety and service improvements that are currently underway at Norfolk Southern," the American Federation of Labor and Congress of...
JACKSONVILLE, Fla., April 16, 2024 (GLOBE NEWSWIRE) -- CSX (NASDAQ: CSX) has unveiled its first hydrogen-powered locomotive, marking a significant milestone in sustainable freight transportation. This pioneering achievement is the result of a successful partnership between CSX and Canadian Pacific Kansas City (CPKC) and demonstrates the company’s commitment to innovation and environmental stewardship.The hydrogen locomotive was converted from an existing diesel locomotive using a hydrogen conver
Canadian National's (CNI) Q1 bottom line is expected to benefit from lower costs.
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JACKSONVILLE, Fla., April 15, 2024 (GLOBE NEWSWIRE) -- CSX (NASDAQ: CSX) has announced its latest group of high-ranking properties to receive CSX Select Site designation under the industrial development program. Fourteen sites in eight states have earned a Silver or Bronze rating based on an evaluation of a wide range of site characteristics. CSX worked with more than 40 communities over the past several months to gather information and identify top candidates for the Select Site program, which
A year after the East Palestine disaster, Norfolk Southern CEO Alan Shaw is under attack by activist investor Ancora.
PepsiCo, Canadian Pacific Kansas City, MercadoLibre, Lululemon Athletica, and Manulife Financial are included in this Analyst Blog.
Canadian National Railway, Canadian Pacific Kansas City and CSX have been highlighted in this Industry Outlook article.
CLEVELAND, April 15, 2024--Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, "Ancora" or "we"), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) ("Norfolk Southern" or the "Company"), today issued a presentation on the urgent need for leadership, safety and strategy changes at Norfolk Southern. The presentation also showcases the comprehensive plan prepared by Ancora’s nominees and proposed management team to transform Norfolk Southern and meanin