Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Alternative Power Generation stocks down 2.0% on average while median return down 0.9% in a day
- Alternative Power Generation stocks up 8.2% on average while median return up 2.9% in a week
- Alternative Power Generation stocks up 22.9% on average while median return up 18.3% 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 $MAXN 53.6%, $NEP 25.0%, $AY 24.0%, $CWEN 19.1%
- 1M losers are : Losers for past month are
- 1W winners are : Winners for past week are $MAXN 35.9%, $NEP 7.6%, $RUN 5.6%, $ORA 3.1%
- 1W losers are : Losers for past week are $BIP -0.3%, $CWEN -1.0%, $AY -1.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 19.1%, for the past 3 months is 28.6%
In the past month for a 5 days rolling window, the highest corrrelation is 57.8%, the lowest correlation is -1.1%, the latest correlation is 10.3%
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 71.1% between NEP and RUN
The lowest correlation is -37.4% between AY and ELLO
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