Aggregated price index with volume information
Summary:
- Transportation stocks up 0.3% on average while median return up -0.1% in a day
- Transportation stocks down 0.8% on average while median return down 1.8% in a week
- Transportation stocks down 1.8% on average while median return down 2.8% 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 $GLBS 67.4%, $PSHG 44.3%, $KNOP 36.3%, $NM 15.8%, $GPP 15.8%
- 1M losers are : Losers for past month are $GOL -18.9%, $ALGT -19.9%, $HA -25.8%, $JBLU -28.1%, $MESA -36.4%
- 1W winners are : Winners for past week are $GLBS 55.2%, $DHT 11.1%, $GPP 10.9%, $FRO 10.2%, $EURN 9.8%
- 1W losers are : Losers for past week are $VLRS -10.8%, $ALGT -11.0%, $SMHI -11.7%, $HA -14.1%, $MESA -20.9%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 15.6%, for the past 3 months is 15.0%
In the past month for a 5 days rolling window, the highest corrrelation is 45.3%, the lowest correlation is -0.3%, the latest correlation is -0.2%
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 91.0% between CNI and CP
The lowest correlation is -48.6% between AAWW and ALGT
GREENEVILLE, Tenn., September 22, 2023--Forward Air Corporation (NASDAQ: FWRD) ("Forward," "we," "our," or "us") today announced the pricing of the previously announced private offering (the "Notes Offering") of $725 million of 9.50% senior secured notes due 2031 by GN Bondco, LLC (the "Escrow Issuer"), a Delaware limited liability company and wholly owned subsidiary of Omni Newco, LLC ("Omni"), which was downsized by $200 million from the previously announced offering size of $925 million in co
The autoworkers are continuing their strikes against the Big Three automakers, Ford (F), General Motors (GM), and Stellantis (STLA). Most economists expect for there to be some ripple effects across the U.S. economy. One industry that could feel the impact is railroads. Cowen Senior Research Analyst Jason Seidl tells Yahoo Finance Live that "autos have been one of the few brights spots" for railroads in what has been an overall "tough" year for the industry. Seidl says he does expect the strikes...
OMAHA, Neb., September 22, 2023--Werner Enterprises (Nasdaq: WERN), a premier transportation and logistics provider, is excited to announce Operations Supervisor, Caty Simandl, and Director of Learning & Development at ReedTMS Logistics, Eileen Dabrowski, were selected as recipients of Supply & Demand Chain Executive’s 2023 Women in Supply Chain Award.
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