Aggregated price index with volume information
Summary:
- Genetic Testing Firms stocks down 2.3% on average while median return down 2.7% in a day
- Genetic Testing Firms stocks up 1.0% on average while median return up -0.1% in a week
- Genetic Testing Firms stocks down 7.2% on average while median return down 7.2% 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 $DGX 5.1%, $CODX 2.2%, $NTRA 1.4%
- 1M losers are : Losers for past month are $FLGT -7.4%, $VCYT -7.9%, $MYGN -16.3%, $NEOG -20.3%
- 1W winners are : Winners for past week are $DGX 7.6%, $NTRA 4.6%, $VCYT 1.5%, $NEOG 0.3%
- 1W losers are : Losers for past week are $FLGT -0.4%, $LH -0.6%, $CODX -1.7%, $MYGN -2.9%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 43.1%, for the past 3 months is 33.1%
In the past month for a 5 days rolling window, the highest corrrelation is 68.6%, the lowest correlation is -10.2%, the latest correlation is 46.3%
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 74.2% between FLGT and MYGN
The lowest correlation is 5.0% between FLGT and NEOG
Quest Diagnostics Incorporated (NYSE:DGX) Q1 2024 Earnings Call Transcript April 23, 2024 Quest Diagnostics Incorporated beats earnings expectations. Reported EPS is $2.04, expectations were $1.86. DGX isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Welcome to the Quest Diagnostics First […]
Labcorp (LH) sets a strong foundation for the year ahead with its impressive performance in the first quarter of 2024.
Although the revenue and EPS for Labcorp (LH) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today it will release its first quarter 2024 financial results on Thursday, May 9, 2024, after the market close. The Company will also host a conference call and webcast on the same day at 4:30 p.m. ET to discuss its financial results with analysts and institutional investors. Management on the call will include Dwight Egan, Chief Exec
Robust Performance Amid Expansions and Strategic Acquisitions
Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, today announced results for the first quarter ended March 31, 2024 and updated full-year guidance.
Labcorp will acquire all of the bankrupt firm's assets on a going concern basis for $239 million in cash consideration and other non-cash consideration, the companies said in separate statements. In February, Invitae filed for voluntary Chapter 11 protection in a U.S. bankruptcy court and said that it intended to pursue a sale process. Invitae's estimated assets were in the $500 million - $1 billion range, while its liabilities were in the $1 billion - $10 billion range, according to the bankr...
Laboratory service provider Labcorp said on Wednesday it will acquire Softbank-backed Invitae Corp's assets auctioned through a voluntary bankruptcy protection process, a few months after the genetic test maker filed for bankruptcy. Labcorp will acquire all of the bankrupt firm's assets on a going concern basis for $239 million in cash consideration and other non-cash consideration, the companies said in separate statements. In February, Invitae filed for voluntary Chapter 11 protection in a U...
Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, announced today that it has been selected as the winning bidder for select assets of Invitae, a leading medical genetics company. Before the transaction can proceed, the court overseeing the process must issue an approval order following a hearing currently scheduled for May 6, 2024.
Invitae (OTC:NVTA), a leading medical genetics company, announced that Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, has been selected as the winning bidder in the Company's auction in its sale process under Section 363 of the U.S. Bankruptcy Code. Labcorp will acquire substantially all of the Company's assets on a going concern basis for $239 million in cash consideration, plus other non-cash consideration.