Aggregated price index with volume information
Summary:
- Auto Parts: OEM stocks up 0.6% on average while median return up 0.0% in a day
- Auto Parts: OEM stocks up 0.7% on average while median return up 0.6% in a week
- Auto Parts: OEM stocks up 0.1% on average while median return up 1.2% 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 $CPS 19.1%, $BWA 12.9%, $CAAS 12.4%, $AXL 11.2%, $LEA 6.0%
- 1M losers are : Losers for past month are $STRT -3.0%, $SYPR -6.4%, $MPAA -9.8%, $SUP -14.2%, $LI -33.1%
- 1W winners are : Winners for past week are $STRT 11.3%, $CAAS 6.5%, $CPS 5.3%, $BWA 4.0%, $SRI 3.9%
- 1W losers are : Losers for past week are $ADNT -2.4%, $MGA -2.5%, $LI -4.0%, $SYPR -6.4%, $MOD -7.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 28.3%, for the past 3 months is 31.3%
In the past month for a 5 days rolling window, the highest corrrelation is 50.6%, the lowest correlation is 5.8%, the latest correlation is 32.9%
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 77.9% between ADNT and APTV
The lowest correlation is -54.6% between MPAA and SYPR
Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.
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.
In this article, we discuss 10 best momentum ETFs to buy. If you want to skip our discussion on momentum investing and the stock market outlook, head over to 5 Best Momentum ETFs To Buy. What is Momentum Investing? Momentum investing refers to a strategy that increases portfolio exposure to stocks with robust performance while […]
Artisan Partners, an investment management company, released its “Artisan Mid Cap Value Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTQX returned 11.21%, Advisor Class fund APDQX posted a return of 11.20%, and Institutional Class fund APHQX returned 11.17%, compared to […]
Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.
If you are looking for stocks that are well positioned to maintain their recent uptrend, Modine Manufacturing (MOD) could be a great choice. It is one of the several stocks that passed through our "Recent Price Strength" screen.
Gentex (NASDAQ:GNTX) has had a great run on the share market with its stock up by a significant 10% over the last three...
Long term investing can be life changing when you buy and hold the truly great businesses. And highest quality...
It is hard to get excited after looking at Adient's (NYSE:ADNT) recent performance, when its stock has declined 10...
The latest trading day saw BorgWarner (BWA) settling at $33.20, representing a -0.6% change from its previous close.