Aggregated price index with volume information
Summary:
- Remote Working stocks down 1.0% on average while median return down 0.9% in a day
- Remote Working stocks up 1.2% on average while median return up 1.5% in a week
- Remote Working stocks down 4.1% on average while median return down 3.6% 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 $GOOG 4.1%, $TEAM 3.3%
- 1M losers are : Losers for past month are $BOX -4.7%, $MSFT -5.4%, $ZM -8.0%, $CRWD -9.7%, $RNG -12.0%
- 1W winners are : Winners for past week are $DBX 5.1%, $RNG 2.6%, $TEAM 2.5%, $BOX 1.9%, $ZM 1.8%
- 1W losers are : Losers for past week are $MSFT -1.3%, $AMZN -3.1%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 43.9%, for the past 3 months is 31.0%
In the past month for a 5 days rolling window, the highest corrrelation is 74.4%, the lowest correlation is -4.0%, the latest correlation is 56.4%
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 78.3% between AMZN and MSFT
The lowest correlation is -0.0% between DBX and DOCU
Microsoft and Google jumped on earnings late after the market rally attempt showed resilience Wednesday amid Meta's sell-off.
Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms. Three other Magnificent Seven stocks, including Alphabet, Amazon.com and Microsoft, finished lower. However, shares of Alphabet and Microsoft were advancing in extended hours trading after both companies reported quarterly results that beat Wall ...
Microsoft Third-Quarter Result Beat Expectations on Strong Cloud Perfomance
Alphabet (GOOGL, GOOG) declares a cash dividend of $0.20 per share to investors while reporting a first-quarter earnings beat; the Google parent company topped expectations on the top and bottom lines, posting adjusted earnings of $1.89 per share (against estimates of $1.53) and $67.59 billion (against estimates of $66.07 billion). And Alphabet's stock is overjoyed, surging as high as 13% in Thursday's after-hours trading session. Yahoo Finance Markets Reporter Josh Schafer joins Julie Hyman and...
Google’s corporate parent Alphabet Inc. on Thursday released a quarterly report showing it’s still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence. The results for the first three months of the year provided the latest evidence that Google has regained its momentum after an unprecedented downturn in 2022 coming out of the pandemic. In the January-March period, Alphabet’s revenue rose 15% from the sa...
Google stock soared after parent Alphabet reported first-quarter earnings and revenue that handily beat consensus estimates.
Alphabet shares were trading sharply higher late Thursday on strong March quarter financial results. For the quarter, the parent of Google and YouTube posted revenue of $80.5 billion, up 15% from the year-earlier period and well above Street consensus at $78.7 billion. Profits were $1.89 a share, blowing past the Street consensus as tracked by FactSet at $1.51 a share.
IT project management software company, Atlassian (NASDAQ:TEAM) reported Q1 CY2024 results exceeding Wall Street analysts' expectations, with revenue up 29.9% year on year to $1.19 billion. Guidance for next quarter's revenue was also optimistic at $1.13 billion at the midpoint, 2% above analysts' estimates. It made a non-GAAP profit of $0.89 per share, improving from its profit of $0.54 per share in the same quarter last year.
Microsoft (MSFT) reported third quarter earnings of $2.94 per share. Revenue of $61.9 billion topped estimates of $60.8 billion. The company's cloud business was a standout, with revenue of $35.1 billion versus an estimate of $33.9 billion. Yahoo Finance's Julie Hyman Jared Blikre, and Josh Schafer break down the tech giant's quarterly results. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Steph...
Software kingpin Microsoft beat estimates for its fiscal third quarter, thanks to healthy cloud computing business.