Aggregated price index with volume information
- Sports and Online Betting stocks up 0.5% on average while median return up 0.5% in a day
- Sports and Online Betting stocks up 0.9% on average while median return up 0.3% in a week
- Sports and Online Betting stocks down 5.4% on average while median return down 6.4% 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
- 1M losers are : Losers for past month are $CHDN -8.0%, $BJK -8.3%, $BYD -8.5%
- 1W winners are : Winners for past week are $DKNG 6.1%, $PENN 2.6%, $CHDN 0.5%
- 1W losers are : Losers for past week are $IGT -2.0%, $BJK -2.0%
Index correlation analysis
Correlation for the past month is 51.9%, for the past 3 months is 41.9%
In the past month for a 5 days rolling window, the highest corrrelation is 80.6%, the lowest correlation is -4.0%, the latest correlation is 51.6%
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 78.7% between BYD and PENN
The lowest correlation is 20.8% between DKNG and PENN
The market landscape for 4Q23 is starting to emerge through the fog, and some of the experts at banking giant J.P. Morgan are pleased with what they’re seeing. Despite an end-of-September sell-off sparked by the Fed’s indications of ‘higher rates for longer,’ JPMorgan Global Wealth Management global investment strategist, AJ Oden, believes the S&P 500 will hit a record high next year. According to Oden, the S&P may gain as much as 11% by the middle of next year, to reach above 4,800. Backing his
The Dow Jones Industrial Average rallied 200 points Friday on a cool inflation report. Nike stock surged on strong earnings results.
DraftKings (DKNG) plans to introduce its online sportsbook in Kentucky on Sep 28.
The Dow Jones reversed Thursday on initial jobless claims and weak GDP. Used-car retailer CarMax dived on earnings.
DraftKings was upgraded to buy as a strong name in an "appealing" gambling sector. DKNG stock jumped. Meanwhile, Cathie Wood, ARK Invest are taking profits.
Among the best Cathie Wood stocks to buy and watch in today's stock market are Coinbase, Roku, Tesla stock and Zoom Video.
The Dow Jones Industrial Average reversed lower Wednesday after key economic data. Costco stock rallied on strong earnings results.
Pure-play growth stocks have run into a brick wall in the second half of 2023. Despite a surge in growth stock prices in the opening months of the year resulting from the excitement over artificial intelligence, investors have grown increasingly cautious about this particular asset class, and for good reason. Online gaming and sports betting specialist DraftKings (NASDAQ: DKNG) has been an outlier in this regard.
Finding stocks expected to beat quarterly earnings estimates becomes an easier task with our Zacks Earnings ESP.
Ceremonial First Bet Celebration to Include Kentucky Sports Radio Host Matt JonesBOSTON, Sept. 27, 2023 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) announced today plans to launch its top-rated mobile sportsbook in Kentucky on September 28, 2023. Last month, DraftKings reached an agreement with ECL Corbin, LLC, a wholly owned subsidiary of ECL Entertainment, LLC, dba The Mint Gaming Hall at Cumberland (“Williamsburg”) and Cumberland Run (“Corbin”) giving the digital sports entertainment a