Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Electronics/Appliance Stores stocks down 5.7% on average while median return down 0.4% in a day
- Electronics/Appliance Stores stocks up 18.9% on average while median return up 3.1% in a week
- Electronics/Appliance Stores stocks up 40.7% on average while median return up -0.3% 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 $GME 115.4%
- 1M losers are : Losers for past month are $BBY -3.5%
- 1W winners are : Winners for past week are $GME 27.2%
- 1W losers are : Losers for past week are $BBY -1.1%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 2.7%, for the past 3 months is 0.8%
In the past month for a 5 days rolling window, the highest corrrelation is 65.6%, the lowest correlation is -23.9%, the latest correlation is -13.2%
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 32.4% between BBY and GME
The lowest correlation is -24.6% between GME and RCII
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GME stock, AMC lead rallying meme stocks after the return of Roaring Kitty Keith Gill. Short sellers lost nearly $2.2 billion on GME already.
Two stocks at the heart of the pandemic-era trading craze, GameStop (GME) and AMC Entertainment (AMC), extended Monday's surge today. Millions of shares in both companies changed hands even as trading in GameStop was frequently halted. GameStop rose 60%, logging its highest close since November 2021, while AMC was up 32%; they closed Monday up 74% and 78% respectively.
Meme stocks GameStop (GME) and AMC Entertainment (AMC) have spiked in trading after a contributor to Reddit's "WallStreetBets" forum, Keith Gill ("Roaring Kitty"), returned to social media. Could this be another short-lived trend like 2021's meme stock craze, or will this time be different? Yahoo Finance Reporter Josh Schafer joins Market Domination to share Wall Street insight on the current meme stock rally. For more expert insight and the latest market action, click here to watch this full ep...
Rising shares of meme stocks GameStop and AMC have fueled activity in the options market this week. Calls tied to AMC surging to $8, $12.50 or $20 were among the most popular for that stock, which traded below $7.
GameStop and AMC Entertainment shares continue their tremendous surge, Home Depot’s first-quarter earnings top estimates, and Alibaba misses expectations for fiscal fourth-quarter profit.
(Bloomberg) -- Traders betting against some of the most heavily-shorted stocks are racking up paper losses in an unexpected revival of the meme trade this week. Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindBiden Accuses China of ‘Cheating’ on Trade, Imposes New TariffsFlood of China Used Cooking Oil Spurs Call to Hike US LeviesMacron Puts French Banks in Play With Plan to Transform EuropeHow One of the World's Oldest Hedge Funds Went BankruptA Goldman Sachs
GameStop was up 45% in afternoon trading Tuesday. AMC Entertainment Holdings was ahead 35%. Instead, the return of meme stock guru Roaring Kitty, whose real name is Keith Gill, appears to be sparking a rally across the meme universe.
(Bloomberg) -- The stock market is having a sleepy trading session Tuesday ahead of Wednesday’s critical inflation data. But in the more obscure, speculative corners of the investing world the casino is rocking.Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindBiden Accuses China of ‘Cheating’ on Trade, Imposes New TariffsFlood of China Used Cooking Oil Spurs Call to Hike US LeviesMacron Puts French Banks in Play With Plan to Transform EuropeHow One of the World
Retail investor flows into GameStop and AMC are still a far cry from the 2021 meme stock craze.