Aggregated price index with volume information
Summary:
- Apple Suppliers stocks down 0.5% on average while median return down 0.4% in a day
- Apple Suppliers stocks up 2.5% on average while median return up 2.6% in a week
- Apple Suppliers stocks up 9.0% on average while median return up 11.7% 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 $CRUS 32.2%, $TER 31.6%, $NXPI 22.1%, $QCOM 20.1%, $TXN 19.2%
- 1M losers are : Losers for past month are $SWKS -4.1%, $QRVO -8.7%, $INTC -9.2%, $JBL -11.2%
- 1W winners are : Winners for past week are $AMD 8.3%, $TER 7.3%, $AMBA 6.9%, $INTC 6.6%, $QCOM 6.5%
- 1W losers are : Losers for past week are $ACLS -0.5%, $ASML -0.6%, $LPL -1.0%, $JBL -2.5%, $AXTI -9.1%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 37.0%, for the past 3 months is 41.4%
In the past month for a 5 days rolling window, the highest corrrelation is 70.9%, the lowest correlation is 3.8%, the latest correlation is 31.3%
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 94.8% between AMAT and KLAC
The lowest correlation is -54.0% between GLW and MRVL
The Dow Jones closed above 40,000 for the first time. Nvidia earnings loom large, especially for AI stocks.
Nvidia (NVDA) will post its first quarter earnings for the 2024 fiscal year next week, with many on Wall Street watching closely as the tech giant led recent rallies in the tech sector. One of the chip giant's competitors, AMD (AMD), has just partnered with Microsoft (MSFT) to offer its products to Microsoft's cloud computing customers. Wedbush Equity Research SVP Matt Bryson and Truist Securities Managing Director William Stein join Market Domination to give insight into what investors should ...
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