Aggregated price index with volume information
Summary:
- Finance/Rental/Leasing stocks up 0.9% on average while median return up 0.7% in a day
- Finance/Rental/Leasing stocks up 2.4% on average while median return up 1.9% in a week
- Finance/Rental/Leasing stocks down 2.1% on average while median return down 2.8% 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 $OPRT 30.6%, $SAND 9.5%, $RM 9.5%, $CPSS 6.8%, $SYF 5.7%
- 1M losers are : Losers for past month are $WSC -16.0%, $CAR -18.2%, $EOSE -20.4%, $FPAY -26.4%, $HTZ -45.6%
- 1W winners are : Winners for past week are $OPRT 38.0%, $ASPS 19.4%, $ATLC 12.9%, $R 12.2%, $TREE 11.1%
- 1W losers are : Losers for past week are $AAN -5.5%, $WINA -6.2%, $CPSS -6.3%, $FCFS -11.3%, $HTZ -26.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 18.4%, for the past 3 months is 14.5%
In the past month for a 5 days rolling window, the highest corrrelation is 20.9%, the lowest correlation is 4.6%, the latest correlation is 14.5%
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 81.4% between ALLY and DFS
The lowest correlation is -60.2% between CACC and CNF
United Rentals' (URI) first-quarter results reflect benefit from the strength of its core rental business.
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Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.
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