Aggregated price index with volume information
Summary:
- Aluminum stocks up 2.4% on average while median return up 2.3% in a day
- Aluminum stocks up 3.2% on average while median return up 0.5% in a week
- Aluminum stocks up 5.8% on average while median return up 5.0% 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 $HWM 20.4%, $KALU 5.7%
- 1M losers are : Losers for past month are
- 1W winners are : Winners for past week are $HWM 18.8%, $KALU 1.3%
- 1W losers are : Losers for past week are $AA -0.3%, $CENX -6.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 26.5%, for the past 3 months is 19.6%
In the past month for a 5 days rolling window, the highest corrrelation is 66.2%, the lowest correlation is -19.3%, the latest correlation is 33.8%
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 71.8% between AA and CENX
The lowest correlation is -15.8% between AA and ARNC
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CHICAGO, May 01, 2024 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced its first quarter 2024 results. Business Highlights Net sales of $489.5 millionRealized LME aluminum price of $2,190/T in first quarter is up $8/T from prior quarterReported net income attributable to Century stockholders of $246.8 million and adjusted EBITDA attributable to Century stockholders of $25.0 million1Cash and cash equivalents of $93.5 million and strong liquidity of $302.0 million as of
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