Aggregated price index with volume information
Summary:
- Motor Vehicles stocks down 0.3% on average while median return down 1.1% in a day
- Motor Vehicles stocks down 4.9% on average while median return down 6.8% in a week
- Motor Vehicles stocks down 3.3% on average while median return down 2.0% 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 $NIU 19.2%, $REVG 14.6%, $BLBD 5.0%, $KNDI 4.8%, $GM 4.0%
- 1M losers are : Losers for past month are $HMC -4.7%, $HOG -6.8%, $TSLA -10.6%, $XPEV -24.4%, $NIO -29.4%
- 1W winners are : Winners for past week are $KNDI 15.4%
- 1W losers are : Losers for past week are $F -7.8%, $HOG -8.2%, $XPEV -9.0%, $TSLA -9.5%, $NIO -14.8%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 15.1%, for the past 3 months is 14.7%
In the past month for a 5 days rolling window, the highest corrrelation is 42.9%, the lowest correlation is -5.2%, the latest correlation is 23.9%
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 85.9% between HMC and TM
The lowest correlation is -48.7% between BLBD and KNDI
A U.S. government investigation into unexpected automatic braking involving nearly 3 million Hondas is a step closer to a recall. The National Highway Traffic Safety Administration said Wednesday it has upgraded a probe opened in February of 2022 to an engineering analysis after it received 1,294 complaints about the problem, mainly from consumers and through the company. An engineering analysis is the last step before the agency can seek a recall, although the vehicles are not being recalled ...
Ford recalled the popular pickup and SUV for an issue that could cause a loss of drive power and 12-volt accessory failure.
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The U.S. National Highway Traffic Safety Administration (NHTSA) said on Wednesday it had upgraded its probe into reports of unexpected activation of automatic emergency braking systems in around 3 million Honda Motor vehicles to an engineering analysis. An engineering analysis is a mandatory requirement before the auto safety regulator can potentially demand a recall. The probe includes the Japanese automaker's popular Accord sedans and CR-V crossover SUVs.
JD.com, Owens Corning, Royal Caribbean Cruises, Toyota Motor and Pilgrim's Pride have been highlighted in this Value Investor article.
An engineering analysis is a mandatory requirement before the auto safety regulator can potentially demand a recall. The probe includes the Japanese automaker's popular Accord sedans and CR-V crossover SUVs. The NHTSA said it had received 2,876 consumer complaints, and reports of 93 injury incidents and 47 crashes involving Honda cars with unique vehicle identification numbers that may be related to the issue.