Aggregated price index with volume information
Summary:
- Textiles stocks up 1.2% on average while median return up -1.3% in a day
- Textiles stocks up 1.3% on average while median return up 0.5% in a week
- Textiles stocks down 0.4% on average while median return down 1.8% 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 $AIN 0.5%
- 1M losers are : Losers for past month are $UFI -3.2%, $NNDM -9.7%
- 1W winners are : Winners for past week are $CULP 7.1%, $AIN 2.8%
- 1W losers are : Losers for past week are $NNDM -1.7%, $UFI -3.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 19.2%, for the past 3 months is 6.7%
In the past month for a 5 days rolling window, the highest corrrelation is 70.6%, the lowest correlation is -11.6%, the latest correlation is 0.6%
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 49.3% between AIN and UFI
The lowest correlation is -7.9% between CULP and NNDM
Despite the ongoing demand softness, Culp's (CULP) fiscal second-quarter 2024 results benefit from strong Mattress Fabrics segment contribution and improved pricing and margin.
Culp, Inc. (CULP) delivered earnings and revenue surprises of 5% and 1.58%, respectively, for the quarter ended October 2023. Do the numbers hold clues to what lies ahead for the stock?
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Softened demand in the domestic mattress and residential home furnishings industries and inflationary pressure are likely to affect Culp's (CULP) Q2 performance.
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