Aggregated price index with volume information
Summary:
- Real Estate Investment Trusts stocks up 1.9% on average while median return up 1.8% in a day
- Real Estate Investment Trusts stocks up 1.6% on average while median return up 0.9% in a week
- Real Estate Investment Trusts stocks up 15.6% on average while median return up 10.0% 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 $BHR 54.2%, $ILPT 42.4%, $UNIT 36.2%, $OPI 28.0%, $GNL 27.6%
- 1M losers are : Losers for past month are $ABR -4.4%, $CHMI -5.5%, $FPI -8.5%, $IHT -14.8%, $GIPR -24.5%
- 1W winners are : Winners for past week are $KREF 13.0%, $CUZ 12.8%, $FSP 12.4%, $CIO 11.9%, $MPW 10.6%
- 1W losers are : Losers for past week are $DLR -6.1%, $IHT -8.2%, $FPI -8.6%, $BXMT -10.7%, $GIPR -15.8%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 34.3%, for the past 3 months is 27.1%
In the past month for a 5 days rolling window, the highest corrrelation is 59.8%, the lowest correlation is -0.9%, the latest correlation is 47.4%
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 89.1% between AMT and CCI
The lowest correlation is -30.7% between ALEX and BRMK
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UDR's Q2 earnings are likely to have gained from portfolio diversification and technological initiatives, though high supply and elevated interest rates are likely to have acted as dampeners.
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