Aggregated price index with volume information
Summary:
- Semiconductors stocks up 0.5% on average while median return up 0.3% in a day
- Semiconductors stocks up 0.8% on average while median return up 0.1% in a week
- Semiconductors stocks up 2.8% on average while median return up 2.9% 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 $SMTC 34.0%, $MU 31.4%, $SGH 26.5%, $NVDA 16.3%, $ASX 15.3%
- 1M losers are : Losers for past month are $SOL -13.1%, $MRAM -13.3%, $MX -16.6%, $CAN -17.8%, $KOPN -25.9%
- 1W winners are : Winners for past week are $NEOV 28.3%, $SMTC 19.3%, $BOSC 12.1%, $INVE 9.8%, $XPER 7.9%
- 1W losers are : Losers for past week are $MRAM -5.3%, $FN -8.6%, $PXLW -10.4%, $KOPN -12.6%, $GSIT -13.0%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 34.4%, for the past 3 months is 29.7%
In the past month for a 5 days rolling window, the highest corrrelation is 49.5%, the lowest correlation is 17.8%, the latest correlation is 31.6%
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 88.4% between AOSL and DIOD
The lowest correlation is -28.6% between ASX and INVE
Chipmaker Semtech posted mixed results for its fiscal fourth quarter but signaled growing end-market demand.
Semiconductor company Semtech (NASDAQ:SMTC) reported Q4 CY2023 results beating Wall Street analysts' expectations, with revenue up 15.2% year on year to $192.9 million. Guidance for next quarter's revenue was also optimistic at $200 million at the midpoint, 2.4% above analysts' estimates. It made a non-GAAP loss of $0.06 per share, down from its profit of $0.47 per share in the same quarter last year.
CAMARILLO, Calif., March 28, 2024--Semtech Announces Fourth Quarter and Fiscal Year 2024 Results
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