Aggregated price index with volume information
Summary:
- SP Equal Weight stocks up 0.1% on average while median return up 0.2% in a day
- SP Equal Weight stocks up 1.6% on average while median return up 1.1% in a week
- SP Equal Weight stocks up 6.0% on average while median return up 5.7% 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 $GME 115.4%, $FOSL 67.9%, $GCI 48.8%, $THC 41.1%, $HCP 39.8%
- 1M losers are : Losers for past month are $CLF -15.9%, $CVS -16.9%, $TRIP -28.3%, $LEG -31.7%, $DV -35.2%
- 1W winners are : Winners for past week are $FOSL 35.1%, $GME 27.2%, $PLL 22.9%, $LIFE 18.3%, $GCI 15.9%
- 1W losers are : Losers for past week are $FMC -5.3%, $CLX -5.4%, $LEG -5.4%, $X -5.5%, $SAI -15.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 13.2%, for the past 3 months is 17.0%
In the past month for a 5 days rolling window, the highest corrrelation is 33.7%, the lowest correlation is 4.5%, the latest correlation is 9.3%
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 83.4% between ADI and AMAT
The lowest correlation is -57.0% between ALL and AMAT
McDonald’s (NYSE:MCD) showed signs of a slowdown in its Q1 results, leading to shares sliding lower in recent weeks. While the company entered FY2024 with a softer growth trajectory compared to last year, I don’t believe this necessarily sets a new trend. With this year’s numbers facing tough comps from FY2023, a breather in McDonald’s growth is to be expected. In the meantime, a rebound is likely to occur from FY2025 onwards, suggesting that the recent stock dip offers a buying opportunity. Thu
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Hershey is facing a renewed, larger lawsuit claiming it misled consumers about the amount of artistic detail they would find on several Reese's peanut butter candies after opening the packaging. In a proposed class action on Friday, four Reese's consumers in southern Florida said they were "very disappointed" that the candies they bought late last year looked plain, and lacked the "explicit carved out artistic designs" shown on the packaging. The nine candies included several with Halloween an...
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