Aggregated price index with volume information
Summary:
- Aluminum stocks down 0.1% on average while median return down 0.1% in a day
- Aluminum stocks down 0.6% on average while median return down 1.7% in a week
- Aluminum stocks up 15.9% on average while median return up 16.7% 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 $CENX 48.5%, $AA 19.5%
- 1M losers are : Losers for past month are $HWM -5.5%
- 1W winners are : Winners for past week are $CENX 4.1%
- 1W losers are : Losers for past week are $AA -2.1%, $HWM -3.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 29.0%, for the past 3 months is 19.7%
In the past month for a 5 days rolling window, the highest corrrelation is 54.2%, the lowest correlation is 11.3%, the latest correlation is 31.9%
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 87.9% between AA and CENX
The lowest correlation is -36.3% between ARNC and HWM
Stock pickers are generally looking for stocks that will outperform the broader market. And in our experience, buying...
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While the market has taken a small breather as of late, there have been many big-time winners throughout the last month, including these three. Analysts are bullish on their outlooks, with all three carrying a favorable Zacks Rank.
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