Aggregated price index
Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Steel stocks up 3.2% on average while median return up 2.7% in a day
- Steel stocks up 7.1% on average while median return up 6.8% in a week
- Steel stocks up 18.2% on average while median return up 18.4% 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.
Click on + to show price series and click on ticker for stock detail page
* P/E and MarketCap are refreshed daily using IEX Cloud service. P/B, P/S, PEG, growth, short%, HelbyInstitute are refreshed weekly using Yahoo feeds. For latest stock stats please visit Yahoo Finance.
* Price Patter: / is upward trend, \ is downward trend, - is sideway. Click on the ticker to go to stock page to see Bayesian Trend model plot of the time series.
* Channel and change points are derived from Bayesian Trend model, where the channel slope is the growth rate while change points are those the model partition the time series.
- 1M winners are : Winners for past month are $SID 33.8%, $TX 31.1%, $ZEUS 28.8%, $CLF 25.9%, $NUE 24.8%
- 1M losers are : Losers for past month are $IPSC -19.8%
- 1W winners are : Winners for past week are $RYI 14.9%, $TX 13.3%, $STLD 13.1%, $NUE 12.6%, $MSB 10.7%
- 1W losers are : Losers for past week are
Correlation Analysis
Index correlation analysis
Correlation for the past month is 36.3%, for the past 3 months is 32.8%
In the past month for a 5 days rolling window, the highest corrrelation is 47.3%, the lowest correlation is 10.8%, the latest correlation is 41.3%
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 95.4% between NUE and STLD
The lowest correlation is -43.5% between MTL and RS
Stock news
Nucor's (NUE) earnings and sales beat expectations in Q4 despite lower average sales prices and shipments.
Higher selling prices across business segments drive Q4 performance of Sherwin-Williams (SHW) amid headwinds from lower sales volume outside of North America & input cost inflation.
Here is how Nexa Resources S.A. (NEXA) and Steel Dynamics (STLD) have performed compared to their sector so far this year.
Lower prices and reduced volumes driven by weakness in consumer durables, and building & construction applications hurt Dow's (DOW) performance in Q4. It announces actions to deliver $1 billion in cost savings in 2023.
Steel Dynamics' (STLD) Q4 performance in steel operations reflects headwinds from sequentially lower shipments, reduced selling prices & higher raw material costs.
Bumble and Stanley Black & Decker are part of the Zacks Bull and Bear of the Day article.
The impacts of weaker prices and seasonally lower shipment volumes are likely to reflect on Nucor's (NUE) Q4 results.
The rising earnings estimate revisions make the possibility of beating Q4 expectations quite plausible for Freeport McMoRan, Nucor, and Steel Dynamic stock and could continue supporting their strong performances.
United Rentals, Freeport-McMoRan, Halliburton, Steel Dynamics and Ameriprise Financial are part of the Zacks top Analyst Blog.
Freeport (FCX) is likely to have gained from higher operating rates across PT Freeport Indonesia and South America operations amid headwinds from lower year over year copper prices.