Aggregated price index with volume information
Summary:
- Alzheimer Treatment stocks down 0.7% on average while median return down 0.9% in a day
- Alzheimer Treatment stocks up 1.1% on average while median return up -0.4% in a week
- Alzheimer Treatment stocks down 9.4% on average while median return down 7.5% 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 $ANVS 7.1%, $SAVA 5.3%, $MRK 1.3%
- 1M losers are : Losers for past month are $VYGR -18.3%, $ACIU -18.3%, $ATHA -20.9%, $DNLI -21.7%, $AVXL -25.1%
- 1W winners are : Winners for past week are $ANVS 41.7%, $WVE 4.6%, $IONS 3.8%, $AMGN 3.4%, $ABBV 2.2%
- 1W losers are : Losers for past week are $SAVA -2.5%, $ACAD -3.5%, $ATHA -4.7%, $DNLI -7.5%, $AVXL -16.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 25.1%, for the past 3 months is 16.0%
In the past month for a 5 days rolling window, the highest corrrelation is 44.0%, the lowest correlation is 7.2%, the latest correlation is 20.9%
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 64.7% between AVXL and DNLI
The lowest correlation is -50.5% between ACIU and VYGR
SAN DIEGO, April 24, 2024--Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that it will report first quarter financial results on Wednesday, May 8, 2024, after the close of the U.S. financial markets. Acadia’s management team will also host a conference call and webcast on May 8, 2024, at 4:30 p.m. Eastern Time to discuss financial results and operations.
While the healthcare sector is expected to benefit from cutting-edge medicines, new drug approvals, technological advancements, and deal activities, it is expected to witness a modest earnings decline of 5.6% in the first quarter.
Drug and biotech companies are likely to see significant innovation. In the Large-Cap Pharmaceuticals industry, Eli Lilly (LLY), Novo Nordisk (NVO), Merck (MRK) and AbbVie (ABBV) are worth retaining in one's portfolio.
The mean of analysts' price targets for Annovis Bio (ANVS) points to a 198% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Let's look at five biotech/drug companies, MRK, SNY, BMY, GILD and ABBV, slated to release their first quarter 2024 earnings results this week.
Smart Beta ETF report for PJP
“We believe earnings growth is set for a healthier runway through 2024,” Morgan Stanley’s analysts wrote.
Lilly (LLY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Viewing insider transactions for Athira Pharma, Inc.'s ( NASDAQ:ATHA ) over the last year, we see that insiders were...
Get a deeper insight into the potential performance of AbbVie (ABBV) for the quarter ended March 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.