identifies themes and clusters of stock market movements
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Sports Betting$157.50
-4.45%4:00PM 10/19/2020
NEW YORK (AP) — Investors and sports betting companies are running up the score when it comes to sports betting, predicting the fast-growing industry will be a $7 billion to $8 billion business in the U.S. within five years.

Aggregated price index

Aggregated price index with volume information

Summary:

  • 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

Index Constituencies

Related Stocks

Related ETFs

  • 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%
Pick two stocks to compare:

Correlation Analysis

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

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