Aggregated price index with volume information
Summary:
- Alternative Power Generation stocks up 2.7% on average while median return up 2.2% in a day
- Alternative Power Generation stocks up 7.2% on average while median return up 8.4% in a week
- Alternative Power Generation stocks down 5.4% on average while median return down 1.7% 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 $CWEN 10.5%, $AY 9.6%, $NEP 1.8%
- 1M losers are : Losers for past month are $BIP -5.3%, $RUN -9.5%, $MAXN -36.8%
- 1W winners are : Winners for past week are $AY 16.1%, $BIP 11.2%, $ORA 8.7%
- 1W losers are : Losers for past week are $RUN -0.6%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 18.0%, for the past 3 months is 30.2%
In the past month for a 5 days rolling window, the highest corrrelation is 36.1%, the lowest correlation is -2.0%, the latest correlation is 6.2%
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 76.6% between CWEN and NEP
The lowest correlation is -68.6% between ELLO and MAXN
Investors are getting more comfortable with NextEra Energy Partners' long-term cash flow plans.
Sector Update: Energy Stocks Rise in Late Tuesday Afternoon Trading
NEE earnings call for the period ending March 31, 2024.
NEP earnings call for the period ending March 31, 2024.
NextEra (NEE) delivered earnings and revenue surprises of 13.75% and 11.41%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
NextEra Energy (NEE) continues to benefit from Florida economy, adding 100,000 new customers to its existing volumes in the first quarter. Earnings per share are better than expectation.
NextEra Energy Partners' (NEP) first-quarter 2024 earnings and revenues increase year over year. Total operating expenses decrease during the same period.
While the top- and bottom-line numbers for NextEra (NEE) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Surpasses Analyst Net Income Estimates with Strategic Focus on Renewable Energy Growth
Strong Performance Driven by Renewable Energy Growth and Utility Expansion