Aggregated price index with volume information
Summary:
- Real Estate Broker stocks down 0.2% on average while median return down 0.2% in a day
- Real Estate Broker stocks up 3.7% on average while median return up 6.3% in a week
- Real Estate Broker stocks down 5.1% on average while median return down -5.2% 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 (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 $FTHM 27.3%, $RMAX 9.1%, $COMP 5.4%
- 1M losers are : Losers for past month are $RDFN -7.3%, $EXPI -12.7%, $OPEN -30.4%
- 1W winners are : Winners for past week are $COMP 10.3%, $RMAX 8.3%, $OPEN 7.8%
- 1W losers are : Losers for past week are $FTHM -12.7%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 57.0%, for the past 3 months is 47.2%
In the past month for a 5 days rolling window, the highest corrrelation is 75.5%, the lowest correlation is 16.9%, the latest correlation is 73.4%
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 80.7% between EXPI and RDFN
The lowest correlation is 17.3% between EXPI and FTHM
Equities Close Higher as Consumer Sentiment Rises
The stock market had its best week of 2024, led by Nvidia. Fed chief Jerome Powell's Jackson Hole speech and key earnings loom.
Equity Markets Close Higher as Consumer Sentiment Rises
The S&P 500 rose 0.2% Friday, extending its winning streak to a seventh day. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite gained 0.2%. Treasury yields eased a bit following a couple mixed reports on the U.S. economy.
Last week, global markets entered a rout after the Bank of Japan raised interest rates for the second time this year and a dismal July jobs report in the US sparked fears of a recession. Stocks and bond yields plunged as the yen carry trade, in which investors borrowed ultra-cheap yen to buy other higher-yielding assets, unraveled.
The Nasdaq Composite was up 0.2%. The yield on the 2-year Treasury note was up to 4.064% this week. The 10-year yield was up to 3.891%.“Risk markets have snapped back in an uninterrupted fashion based on a slew of better-than-expected data releases that caused recession fears to recede,” writes Michael Darda, Chief Economist & Market Strategist at Roth MKM.
The major indexes look to keep winning streaks alive. Two retail stocks add to Thursday's large gains.
Equity Markets Higher as Consumer Sentiment Grows
Stocks surged higher on Thursday as retail sales showed gains and Fed cues of interest rate cuts.
The Dow Jones Industrial Average was up 118 points, or 0.3%, in a breezy Friday afternoon session. The Nasdaq Composite was up 0.2%. Within the S&P, 308 stocks were rising, while 20 of the 30 Dow stocks were up on the day.