Aggregated price index with volume information
Summary:
- Broadcasting stocks up 0.3% on average while median return up 1.0% in a day
- Broadcasting stocks down 6.1% on average while median return down 5.2% in a week
- Broadcasting stocks up 1.0% 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 $EVC 35.6%, $FENG 17.9%, $TSQ 9.8%, $FOX 4.4%, $SGA 4.2%
- 1M losers are : Losers for past month are $NXST -1.3%, $TGNA -5.2%, $UONEK -15.6%, $CMLS -19.8%, $SIRI -23.3%
- 1W winners are : Winners for past week are $SSP 6.6%, $SGA 3.4%, $GTN 1.9%, $FOX 0.2%, $FOXA 0.1%
- 1W losers are : Losers for past week are $CMLS -12.3%, $IHRT -14.6%, $TV -14.7%, $UONEK -15.6%, $UONE -18.6%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 27.4%, for the past 3 months is 26.1%
In the past month for a 5 days rolling window, the highest corrrelation is 39.6%, the lowest correlation is 9.0%, the latest correlation is 29.7%
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 97.8% between FOX and FOXA
The lowest correlation is -24.1% between FOX and UONEK
NEW YORK, April 18, 2024--iHeartMedia, Inc. (NASDAQ: IHRT) announced today that on Thursday May 9th, 2024, it will issue financial results for the quarter ending March 31, 2024. The company will conduct a conference call at 8:00 a.m. (ET), following the release of its earnings announcement, to discuss its financial results and business outlook.
The E.W. Scripps Company (NASDAQ: SSP) will report first-quarter 2024 operating results after the markets close on Thursday, May 9. The call with the company's senior management team will take place at 9:30 a.m. Eastern time on Friday, May 10.
NEW YORK, April 18, 2024--OutKick, the national multimedia sports platform, continued its growth trajectory in Q1 of 2024 versus Q4 of 2023 with 81 million total multiplatform views, up 10%, and 78 million total multiplatform minutes, up 7%, according to Comscore. The platform also saw 6.1 million average monthly multiplatform unique visitors.
ATLANTA, April 18, 2024 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS) (the “Company” or “Cumulus”) today announced that its subsidiary, Cumulus Media New Holdings Inc. (the “Issuer”), has further extended the Expiration Time in its previously-announced Exchange Offer and Consent Solicitation (the “Exchange Offer and Consent Solicitation”), in which the Issuer offered to exchange any and all of the Issuer’s outstanding 6.750% Senior Secured First-Lien Notes due 2026 (the “Old Notes”) for
ATLANTA, April 18, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray” or the “Company”) (NYSE: GTN) announced today that its daily, 30-minute news magazine InvestigateTV+ is renewed for a second season in 2024-2025. The renewal is the direct result of impressive, double-digit ratings growth in the show’s debut season. InvestigateTV+ built audience throughout its first season with an average of 25% growth with Adults 18+ across all Gray markets since its launch in September 2023 (Source: Niel
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NEW YORK, April 17, 2024--FOX News Digital finished the first 1Q 2024 marking twelve consecutive quarters leading news brands with multiplatform minutes, while seeing double-digit year-over-year growth in the category, according to Comscore. Meanwhile, CNN saw a 10% decrease with multiplatform minutes year-over-year. FOX News Digital also led news brands with multiplatform views, marking seven consecutive quarters leading this metric and closing out the first quarter reaching 9.8 billion total m
Sirius XM (SIRI) closed the most recent trading day at $3.10, moving -1.59% from the previous trading session.
IRVING, Texas, April 17, 2024--Nexstar Media Group executive management will participate in the MoffettNathanson and the JPMorgan Technology and Media Conferences in May.