Aggregated price index with volume information
Summary:
- Iron Ore Mining stocks up 1.2% on average while median return up 1.1% in a day
- Iron Ore Mining stocks up 0.5% on average while median return up 0.4% in a week
- Iron Ore Mining stocks down 4.6% on average while median return down -1.6% 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 $RIO 8.9%, $VALE 5.8%
- 1M losers are : Losers for past month are $BHP -2.6%, $CLF -21.5%
- 1W winners are : Winners for past week are $VALE 2.7%, $RIO 1.0%
- 1W losers are : Losers for past week are $BHP -0.3%, $CLF -1.6%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 56.7%, for the past 3 months is 53.5%
In the past month for a 5 days rolling window, the highest corrrelation is 95.3%, the lowest correlation is 7.2%, the latest correlation is 95.3%
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 83.8% between RIO and VALE
The lowest correlation is 26.9% between BHP and CLF
Barrick Gold Corp is not interested in bidding for Anglo American and is building its own copper portfolio, CEO of Canadian miner Mark Bristow told Reuters on Wednesday. "We are not interested in bidding for Anglo American, as we are building one of our own," Bristow said. Last week Anglo rejected BHP Group Ltd's $39 billion offer, saying it was opportunistic, significantly undervaluing the company and its future prospects.
Most readers would already be aware that Rio Tinto Group's (LON:RIO) stock increased significantly by 9.1% over the...
Update: BHP Considers Sweetening Rejected $39 Billion Offer for Anglo American
(Bloomberg) -- A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP Group Ltd. offered last week, according to analysts and traders surveyed by Bloomberg. Most Read from BloombergHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsTesla Soars on Tentative China Approval for Driving SystemStocks Trade for 390 Minutes a Day. Increasingly, Only 10 MatterBinance and CZ’s Fortunes Are Set to Grow, Jail or no JailCocoa Price Swing
(Bloomberg) -- BHP Group Ltd.’s proposal for Anglo American Plc to spin off platinum and iron ore units before a takeover would likely require approval from South African regulators, according to a government agency.Most Read from BloombergHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsTesla Soars on Tentative China Approval for Driving SystemStocks Trade for 390 Minutes a Day. Increasingly, Only 10 MatterBinance and CZ’s Fortunes Are Set to Grow, Jail or no JailCocoa Price Swings Sh
BHP Group can't cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, concerned that they stand to lose heavily by holding shares in South African subsidiaries. The world's No. 1 miner is weighing up its next move after its initial $39 billion takeover proposal for smaller rival Anglo was rejected last week. BHP has proposed that Anglo sell its shares in units Anglo Platinum (Amplats) and Kumba Iron Ore as an option to exit the South African assets it ...
(Bloomberg) -- Mining giants BHP Group and Vale SA offered to pay Brazil about $25.7 billion in total compensation for a 2015 tailings dam disaster at their joint-venture iron ore complex.Most Read from BloombergHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsTesla Soars on Tentative China Approval for Driving SystemStocks Trade for 390 Minutes a Day. Increasingly, Only 10 MatterBinance and CZ’s Fortunes Are Set to Grow, Jail or no JailUS Warns ICC Action on Israel Would Hurt Cease-Fi
In this article, we will be discussing the Top 20 Copper Producing Countries in The World. If you want to skip our detailed analysis of the global copper sector, along with all-share buyout proposal by BHP Group, go directly to the Top 5 Copper Producing Countries In The World. Copper; the first metal manipulated by […]
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Update: BHP Group, Vale, Samarco Propose $25.7 Billion Settlement for 2015 Brazillian Dam Disaster