Aggregated price index with volume information
- Solar stocks down 2.1% on average while median return down 2.8% in a day
- Solar stocks up 4.3% on average while median return up 5.1% in a week
- Solar stocks up 4.3% on average while median return up 1.8% 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 $ENPH 36.1%, $NOVA 13.6%, $SPWR 8.8%, $TSLA 8.5%, $SEDG 8.3%
- 1M losers are : Losers for past month are $JKS -7.6%, $DQ -9.2%, $ARRY -11.1%, $BEEM -12.7%, $MAXN -25.8%
- 1W winners are : Winners for past week are $SPWR 22.4%, $ENPH 11.0%, $NOVA 8.5%, $ARRY 8.1%, $MAXN 7.4%
- 1W losers are : Losers for past week are $DQ -1.2%, $TSLA -3.2%, $BEEM -13.2%
Index correlation analysis
Correlation for the past month is 55.3%, for the past 3 months is 51.0%
In the past month for a 5 days rolling window, the highest corrrelation is 79.5%, the lowest correlation is 19.9%, the latest correlation is 58.4%
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 92.9% between ENPH and TAN
The lowest correlation is -8.5% between CSIQ and TSLA
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