Aggregated price index with volume information
Summary:
- Airlines stocks up 0.3% on average while median return up -0.1% in a day
- Airlines stocks down 1.7% on average while median return down 1.7% in a week
- Airlines stocks down 4.4% on average while median return down 5.3% 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 $VLRS 17.3%, $UAL 11.9%, $SKYW 6.0%, $DAL 5.5%, $ALK 4.6%
- 1M losers are : Losers for past month are $AAL -9.3%, $JBLU -22.0%, $SAVE -23.4%, $ALGT -25.2%, $AZUL -33.4%
- 1W winners are : Winners for past week are $VLRS 10.5%, $VTOL 7.0%, $SKYW 6.6%, $DAL 4.9%, $UAL 2.8%
- 1W losers are : Losers for past week are $HA -5.3%, $LUV -8.0%, $ALGT -8.5%, $SAVE -12.4%, $JBLU -18.7%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 30.4%, for the past 3 months is 26.5%
In the past month for a 5 days rolling window, the highest corrrelation is 57.4%, the lowest correlation is 6.8%, the latest correlation is 24.6%
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 85.2% between AAL and UAL
The lowest correlation is -48.5% between GOL and UAL
Delta Air Lines' (NYSE: DAL) board of directors today announced Maria Black and Willie CW Chiang as its newest members.
"We're making these adjustments now to ensure we're able to re-accommodate customers on affected flights," the company said. The move comes a day after peer Southwest Airlines said that it will shut operations at some airports as a result of the 787 delivery issues. Reuters reported earlier this month that the output of Boeing's 737 MAX had fallen sharply on increased production checks by U.S. regulators.
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Alaska Air (ALK) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
American Airlines (AAL) reports a 3.1% year-over-year increase in first-quarter revenues. JetBlue (JBLU) expects second-quarter capacity to decline in the 2-5% band.
ALK vs. RYAAY: Which Stock Is the Better Value Option?
Companies in The News Are:NOC,LUV,UNP,IP
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here is how Alaska Air Group (ALK) and International Seaways (INSW) have performed compared to their sector so far this year.
SkyWest's (SKYW) Q1 revenues increase 16.2% year over year.