Aggregated price index with volume information
Summary:
- Gold Mining and Loyalty stocks up 2.5% on average while median return up 2.1% in a day
- Gold Mining and Loyalty stocks up 0.8% on average while median return up 0.5% in a week
- Gold Mining and Loyalty stocks up 11.4% on average while median return up 12.2% 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 $SSRM 33.5%, $MUX 31.6%, $NUGT 30.3%, $SILV 28.7%, $NEM 27.7%
- 1M losers are : Losers for past month are $WRN -0.3%, $CMCL -3.9%, $EQX -4.4%, $DZZ -7.6%, $GLL -12.2%
- 1W winners are : Winners for past week are $NEM 12.6%, $SILV 12.4%, $MUX 8.2%, $SSRM 7.3%, $BVN 5.6%
- 1W losers are : Losers for past week are $DGP -4.1%, $UGL -4.2%, $HL -4.4%, $NG -5.5%, $EQX -10.4%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 36.7%, for the past 3 months is 36.8%
In the past month for a 5 days rolling window, the highest corrrelation is 50.3%, the lowest correlation is 4.3%, the latest correlation is 38.7%
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 100.0% between AAAU and GLD
The lowest correlation is -99.9% between GLDM and GLL
COEUR D'ALENE, Idaho, April 25, 2024--Hecla First Quarter 2024 Results Conference Call/Webcast and Virtual Investor Event
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