Aggregated price index
Aggregated price index with volume information
- Sports Betting stocks down 4.5% on average while median return down 3.4% in a day
- Sports Betting stocks down 1.4% on average while median return down 0.7% in a week
- Sports Betting stocks up 0.1% on average while median return up 1.0% 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 $BYD 23.5%, $SGMS 10.6%, $CHDN 4.6%
- 1M losers are : Losers for past month are $BJK -2.6%, $PENN -11.2%, $IGT -17.9%
- 1W winners are : Winners for past week are $BYD 5.6%, $SGMS 2.1%
- 1W losers are : Losers for past week are $BJK -1.3%, $CHDN -2.6%, $IGT -7.5%
Index correlation analysis
Correlation for the past month is 56.9%, for the past 3 months is 50.8%
In the past month for a 5 days rolling window, the highest corrrelation is 87.1%, the lowest correlation is 9.0%, the latest correlation is 66.2%
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 79.2% between BYD and IGT
The lowest correlation is 19.4% between CHDN and SGMS
The moves bring its BetAmerica sports betting and iGaming platform presence to a total of six states.
(Bloomberg) -- Penn National Gaming Inc. shares rose as much as 4.5% in early trading Tuesday after Morgan Stanley said Penn’s minority owned Barstool Sportsbook betting app achieved a record 21,000 downloads per day in its first weekend, breaking DraftKings Inc.’s and Flutter Entertainment Plc’s FanDuel’s daily records.Preliminary data from market intelligence firm Sensor Tower show Barstool sportsbook app, which soft launched in Pennsylvania on Sept. 15, had 63,000 downloads in its first weeke...
Scientific Games Corp (NASDAQ: SGMS) has recently gone through a change in ownership and leadership, which offers prospects for value creation not seen in the last two decades, according to Jefferies.The Scientific Games Analyst: David Katz upgraded Scientific Games from Hold to Buy, while raising the price target from $20 to $50.The Scientific Games Thesis: On Sept. 14, MacAndrews & Forbes sold its 39% stake in Scientific Games to a group led by Caledonia, which suggests "a sea change in o...