Aggregated price index with volume information
Summary:
- Forest Products stocks down 0.4% on average while median return down 0.8% in a day
- Forest Products stocks up 2.1% on average while median return up 1.8% in a week
- Forest Products stocks down 8.2% on average while median return down 8.9% 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
- 1M losers are : Losers for past month are $BCC -9.0%, $TREX -10.9%
- 1W winners are : Winners for past week are $JELD 4.3%, $LPX 3.4%
- 1W losers are : Losers for past week are $BCC -0.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 66.8%, for the past 3 months is 65.0%
In the past month for a 5 days rolling window, the highest corrrelation is 87.8%, the lowest correlation is 20.9%, the latest correlation is 43.0%
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 78.7% between JELD and TREX
The lowest correlation is 51.9% between LPX and TREX
FSM, LPX and ERAS made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on April 23, 2024.
Louisiana-Pacific (LPX) could produce exceptional returns because of its solid growth attributes.
Louisiana-Pacific (LPX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
WINCHESTER, Va., April 18, 2024--Trex Company, Inc. [NYSE:TREX], the world’s #1 brand of high-performance, low-maintenance and eco-friendly composite decking and railing and a leader in outdoor living products, will issue its first quarter 2024 earnings release on Thursday, May 9, 2024, after the close of the U.S. market.
DFLI, ALSN, HURN, LPX and PSBD have been added to the Zacks Rank #1 (Strong Buy) List on April 18, 2023.
ALSN and LPX made it to the Zacks Rank #1 (Strong Buy) income stocks list on April 18, 2023.
HURN, LPX and ALSN made it to the Zacks Rank #1 (Strong Buy) value stocks list on April 18, 2023.
Louisiana-Pacific (LPX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Trex Company (NYSE:TREX) has had a great run on the share market with its stock up by a significant 12% over the last...
Shares of homebuilders and building products firms are tumbling after the Census Bureau's tally of housing starts showed a big decline in March. Housing starts fell 14.7% from February to a seasonally adjusted annual rate of 1.47 million, a bad sign heading into the spring building season that suggests mortgage rates' recent climb toward 7% is taking a toll on demand. It has been a sharp reversal for shares of homebuilders and companies that manufacture and distribute building products.