Aggregated price index
Aggregated price index with volume information
- Remote Working stocks up 0.2% on average while median return up 0.7% in a day
- Remote Working stocks up 2.8% on average while median return up 1.3% in a week
- Remote Working stocks up 0.5% on average while median return up -0.6% 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 is based on equal weighted constituencies returns,Aggregated volume information is based on sum of all constituencies volumes
- 1M winners are : Winners for past month are $CRWD 10.3%, $GOOG 7.8%, $BOX 6.6%, $WORK 2.9%, $TEAM 2.4%
- 1M losers are : Losers for past month are $MSFT -1.1%, $DOCU -1.2%, $AMZN -2.7%, $DBX -6.6%, $ZM -16.4%
- 1W winners are : Winners for past week are $WORK 10.6%, $TEAM 8.7%, $CRWD 8.5%, $ZM 6.5%, $DOCU 2.5%
- 1W losers are : Losers for past week are $GOOG -0.1%, $MSFT -0.3%, $AMZN -0.6%, $DBX -0.7%, $RNG -4.0%
Index correlation analysis
Correlation for the past month is 53.1%, for the past 3 months is 46.9%
In the past month for a 5 days rolling window, the highest corrrelation is 74.8%, the lowest correlation is 2.3%, the latest correlation is 15.2%
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 87.3% between CRWD and DOCU
The lowest correlation is 6.5% between GOOG and TEAM
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