Aggregated price index with volume information
Summary:
- SP Equal Weight stocks up 1.6% on average while median return up 1.3% in a day
- SP Equal Weight stocks up 1.1% on average while median return up 0.9% in a week
- SP Equal Weight stocks up 3.6% on average while median return up 3.9% 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 $NBR 46.2%, $NWL 39.7%, $PBI 36.2%, $BEAM 33.4%, $DHI 26.1%
- 1M losers are : Losers for past month are $NKE -22.9%, $MU -23.1%, $CMG -24.3%, $EW -31.9%, $BIG -41.3%
- 1W winners are : Winners for past week are $NWL 39.0%, $BEAM 27.8%, $NBR 24.0%, $MMM 22.4%, $BMY 18.3%
- 1W losers are : Losers for past week are $UPS -11.3%, $WM -11.6%, $TER -13.6%, $F -20.0%, $EW -27.9%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 17.5%, for the past 3 months is 15.9%
In the past month for a 5 days rolling window, the highest corrrelation is 29.8%, the lowest correlation is 3.0%, the latest correlation is 15.8%
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 81.2% between ADSK and ALTR
The lowest correlation is -52.0% between AAPL and AEE
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