Aggregated price index with volume information
- The momentum of the sector is very strong.
- Real Estate Broker stocks down 1.0% on average while median return down 0.4% in a day
- Real Estate Broker stocks up 7.4% on average while median return up 5.7% in a week
- Real Estate Broker stocks up 14.2% on average while median return up 16.9% 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 $OPEN 61.7%, $RDFN 21.8%, $Z 17.5%
- 1M losers are : Losers for past month are $EXPI -6.3%, $RMAX -19.4%, $FTHM -28.6%
- 1W winners are : Winners for past week are $OPEN 17.0%, $COMP 14.3%, $RDFN 6.4%
- 1W losers are : Losers for past week are $FTHM -2.2%
Index correlation analysis
Correlation for the past month is 53.1%, for the past 3 months is 47.0%
In the past month for a 5 days rolling window, the highest corrrelation is 89.5%, the lowest correlation is -2.9%, the latest correlation is 54.7%
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 85.8% between COMP and RDFN
The lowest correlation is -10.3% between FTHM and RMAX
Apple broke out and closed back above a $3 trillion valuation. MongoDB and Toll Brothers led overnight earnings.
Large and megacap stocks outperformed on the stock market today as the Dow Jones Industrial Average slipped, but fell much less than the Russell 2000. One large stock, Microsoft, got support at a key technical level while testing a 366.78 buy point, as concert venue upstart Sphere Entertainment sold off and hit five-month lows. The S&P 500 traded practically at the break-even point, off by just 2.6 points at 4,567.
Technology stocks led the way on Tuesday on a mixed day for the broader market. The Dow Jones Industrial Average fell about 80 points, or 0.2%. The S&P 500 was down 0.1%. The Nasdaq Composite rose 0.3%.
Wall Street finished mixed on Tuesday after fresh employment data bolstered bets that the U.S. Federal Reserve will cut interest rates as soon as March. Apple and other megacaps gained while consumer staples stocks dipped after data showed U.S. job openings dropped in October to the lowest level since early 2021, indicating that the labor market was easing. "As interest rates rise and as demand slows, companies are pulling back on job openings, which is essentially what the Fed wants," said Sa...
A gauge of global stocks was poised for a second straight decline and U.S. Treasury yields fell on Tuesday, as investors attempted to assess the policy path of major central banks and the pace of slowing economic growth. Softening economic data and recent comments from Federal Reserve officials, including Chair Jerome Powell, have heightened expectations that the U.S. central bank has ended its interest rate hiking cycle and will begin to cut rates as soon as March. In addition, expectations h...
The European Commission is set to recommend postponing a controversial tariff on electric cars traded between the UK and Europe by three years, according to a Bloomberg report.
Government bond yields tumbled on both sides of the Atlantic on Tuesday as investors upped their bets that big central banks had finished raising interest rates. The rally for bonds — whose prices move inversely to yields — began after European Central Bank policymaker Isabel Schnabel said the region’s “remarkable” inflation slowdown has made further rate rises “rather unlikely”. The dovish comments sent benchmark German Bund yields down 0.1 percentage points to 2.24 per cent, the lowest level...
Prices will decline 1% nationally in 2024’s second and third quarters—typically a popular time of the year for home buying, Redfin estimated in a report published Tuesday. One key factor in the projected decline is an increase in the number of homes for sale. Prices will fall as home supply rises more than demand, Redfin said.
Wall Street's main indexes were mixed on Tuesday as investors assessed a fresh batch of economic data, including a jobs report, to gauge the probability of rate cuts by the Federal Reserve early next year, while megacap stocks rebounded from the previous day's losses. U.S. job openings dropped in October to the lowest level since early 2021, indicating that the labor market was easing, while U.S. services sector activity picked up in November. "The data is better than expected, meaning that th...
US job openings fell to their lowest level in more than two years in October, another sign of a cooling labour market that sparked a rally in government debt as traders bet on less aggressive monetary policy from the Federal Reserve. The job-openings data offers more evidence that the US central bank’s efforts to damp demand with high interest rates is working — although officials insist cuts to rates are not on the cards in the near term. US businesses advertised 8.7mn job vacancies in Octobe...