Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Alzheimer Treatment stocks up 0.3% on average while median return up 0.2% in a day
- Alzheimer Treatment stocks up 10.4% on average while median return up 5.6% in a week
- Alzheimer Treatment stocks up 14.4% on average while median return up 16.5% 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 $ACIU 33.6%, $WVE 30.4%, $DNLI 23.6%, $ATHA 22.3%, $AVXL 19.7%
- 1M losers are : Losers for past month are $IONS -8.6%, $ACAD -13.4%, $ANVS -15.6%
- 1W winners are : Winners for past week are $ANVS 40.1%, $ACIU 37.7%, $AVXL 19.4%, $ATHA 18.9%, $SAVA 14.3%
- 1W losers are : Losers for past week are $VYGR -0.1%, $ACAD -3.0%, $IONS -4.5%, $CYTH -4.8%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 6.9%, for the past 3 months is 11.9%
In the past month for a 5 days rolling window, the highest corrrelation is 42.5%, the lowest correlation is -1.7%, the latest correlation is 11.1%
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 54.2% between VYGR and WVE
The lowest correlation is -53.0% between ANVS and CYTH
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