Aggregated price index with volume information
Summary:
- Aircraft Engine and Engine Parts Manufacturing stocks down 0.1% on average while median return down 0.8% in a day
- Aircraft Engine and Engine Parts Manufacturing stocks up 2.8% on average while median return up 1.0% in a week
- Aircraft Engine and Engine Parts Manufacturing stocks up 2.0% on average while median return up -1.0% 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 $AIR 12.4%, $RTX 5.9%
- 1M losers are : Losers for past month are $HON -4.0%, $GE -7.1%
- 1W winners are : Winners for past week are $AIR 7.0%, $GE 5.4%
- 1W losers are : Losers for past week are $B -0.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 26.5%, for the past 3 months is 21.4%
In the past month for a 5 days rolling window, the highest corrrelation is 68.6%, the lowest correlation is -10.3%, the latest correlation is 11.4%
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 51.3% between B and HON
The lowest correlation is -1.6% between GE and RTX
Honeywell's (HON) first-quarter 2024 revenues increase approximately 3%, driven by strong momentum in the Aerospace Technologies segment.
Robust Performance Driven by Aerospace and Sustainability Solutions
Honeywell International (HON) delivered earnings and revenue surprises of 3.21% and 1.14%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
Honeywell (NASDAQ: HON) today announced results for the first quarter that met or exceeded the company's guidance. The company also reiterated its full-year sales, segment margin2, adjusted earnings per share2,3, and cash flow guidance ranges.
Thursday morning, Honeywell reported adjusted first-quarter earnings of $2.25 from sales of $9.1 billion. Wall Street was looking for EPS of $2.17 from sales of $9 billion,
Sinead Colton Grant, chief investment officer at BNY Mellon Wealth Management, favors the U.S. over international markets. And muni bonds look attractive.
Washington is spending another $61 billion to help Ukraine. But most of the money will flow through the US economy first.
Honeywell (Nasdaq: HON) today announced its hydrocracking technology can be used to produce sustainable aviation fuel (SAF) from biomass, helping to make sustainable aviation fuel (SAF) that is 90% less carbon intensive than traditional fossil-based jet fuels1. The new technology produces 3-5% more SAF2,3, enables a cost reduction of up to 20%3,4 and reduces by-product waste streams as compared to other commonly used hydroprocessing technologies.
GE stock rallied 5% early Tuesday as GE Aerospace topped quarterly results and raised its operating profit outlook.
GE Aerospace (GE) has reported its first quarterly results since becoming an independent company after its spin-off from General Electric. The aerospace developer raised its 2024 profit forecast, buoyed by strong sales for jet engine parts and services. GE Aerospace shares are boosted in Tuesday's trading session after topping first-quarter earnings and revenue estimates. Argus Research President John Eade joins the Morning Brief to provide insights into GE Aerospace's performance. Eade describe...