Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Clean Energy Technology stocks down 3.1% on average while median return down 2.0% in a day
- Clean Energy Technology stocks up 7.7% on average while median return up 4.3% in a week
- Clean Energy Technology stocks up 11.9% on average while median return up 13.1% 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%, $TPIC 46.8%, $HY 28.0%, $BE 26.5%, $SPWR 26.1%
- 1M losers are : Losers for past month are $CMI -2.0%, $BEEM -4.5%, $FCEL -13.7%, $SEDG -15.6%, $DQ -17.6%
- 1W winners are : Winners for past week are $MAXN 35.9%, $PLUG 27.0%, $SPWR 23.9%, $FCEL 14.7%, $BE 10.5%
- 1W losers are : Losers for past week are $BEEM -1.6%, $SEDG -2.1%, $HY -3.2%, $CMI -4.4%, $ARRY -14.1%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 31.5%, for the past 3 months is 35.3%
In the past month for a 5 days rolling window, the highest corrrelation is 65.3%, the lowest correlation is 9.4%, the latest correlation is 47.9%
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 86.8% between MAXN and SPWR
The lowest correlation is -31.0% between ARRY and HY
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