Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Savings Institutions stocks up 1.2% on average while median return up 1.0% in a day
- Savings Institutions stocks up 5.2% on average while median return up 5.6% in a week
- Savings Institutions stocks up 23.4% on average while median return up 23.1% 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 $NYCB 266.7%, $CARV 46.0%, $NFBK 42.8%, $PFS 42.3%, $AX 39.7%
- 1M losers are : Losers for past month are $HSBC -1.0%, $CNF -33.1%
- 1W winners are : Winners for past week are $FMAO 12.9%, $OPBK 12.6%, $MVBF 12.6%, $NECB 12.5%, $HIFS 12.1%
- 1W losers are : Losers for past week are $FNWB -0.7%, $FCAP -0.9%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 25.7%, for the past 3 months is 20.9%
In the past month for a 5 days rolling window, the highest corrrelation is 32.5%, the lowest correlation is 8.0%, the latest correlation is 16.7%
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 87.9% between BWB and FFIC
The lowest correlation is -43.5% between BKU and FCAP
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