Aggregated price index with volume information
Summary:
- Supermarkets and Grocery Stores stocks up 2.8% on average while median return up 1.8% in a day
- Supermarkets and Grocery Stores stocks up 4.0% on average while median return up 5.4% in a week
- Supermarkets and Grocery Stores stocks up 9.5% on average while median return up 9.9% 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 $NGVC 20.9%, $WMK 19.7%, $VLGEA 19.6%, $IMKTA 16.5%
- 1M losers are : Losers for past month are $GO -6.6%
- 1W winners are : Winners for past week are $VLGEA 13.0%, $NGVC 7.3%, $SFM 5.7%, $IMKTA 5.7%
- 1W losers are : Losers for past week are $KR -0.4%, $SYY -1.0%, $GO -3.6%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 34.7%, for the past 3 months is 23.7%
In the past month for a 5 days rolling window, the highest corrrelation is 57.4%, the lowest correlation is -5.7%, the latest correlation is 24.6%
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 90.9% between IMKTA and WMK
The lowest correlation is -21.0% between GO and VLGEA
Kroger and Albertsons announced that the two companies agreed to temporarily pause their $25 billion merger as a lawsuit filed by Colorado challenging their merger goes to trial.
Deal between the two grocery-store operators has faced regulatory scrutiny since it was announced in October 2022.
Kroger and Albertsons, who are looking to merge, have identified the 579 locations across the country that they intend to offload from their combined grocery store count.
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Supermarket giant Kroger Co. announced plans to offload more than 60 supermarkets in California as part of its planned merger with Albertsons.
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