Aggregated price index with volume information
Summary:
- Property/Casualty Insurance stocks up 0.7% on average while median return up 0.5% in a day
- Property/Casualty Insurance stocks up 2.9% on average while median return up 1.9% in a week
- Property/Casualty Insurance stocks up 5.5% on average while median return up 4.5% 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 $MHLD 86.0%, $HRTG 54.3%, $HCI 18.9%, $OXBR 15.1%, $PLMR 11.6%
- 1M losers are : Losers for past month are $GLRE -0.1%, $ERIE -2.6%, $KFS -4.5%, $UFCS -7.6%, $JRVR -10.3%
- 1W winners are : Winners for past week are $MHLD 16.6%, $JRVR 10.1%, $THG 6.8%, $ALL 6.7%, $CNFR 5.8%
- 1W losers are : Losers for past week are $UFCS -0.5%, $WTM -0.6%, $ERIE -1.4%, $KFS -1.7%, $OXBR -5.3%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 14.4%, for the past 3 months is 11.7%
In the past month for a 5 days rolling window, the highest corrrelation is 25.6%, the lowest correlation is -1.0%, the latest correlation is 16.6%
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 72.7% between ACGL and L
The lowest correlation is -61.8% between ERIE and LMND
American Financial (AFG) is well-poised to gain from rate increases, a rise in average renewal pricing, stronger underwriting profit, improved guidance and effective capital deployment.
If you want to compound wealth in the stock market, you can do so by buying an index fund. But if you pick the right...
Progressive (PGR) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
The Progressive, Strategic Education, Lancaster Colony and Sprouts Farmers Market are part of the Zacks Screen of the Week article.
Safety Insurance Group's (NASDAQ:SAFT) stock is up by 7.1% over the past three months. Given that the markets usually...
Chubb Limited (NYSE: CB) will hold its first quarter earnings conference call on Wednesday, April 24, 2024, at 8:30 a.m. Eastern.
RenaissanceRe shows rising price performance, earning an upgrade to its IBD Relative Strength Rating from 79 to 82.
CNO Financial (CNO) remains well-poised for growth on a diversified product portfolio, technology investments and sustained record to return value to shareholders.
Oxbridge Re Holdings Limited (NASDAQ:OXBR) Q4 2023 Earnings Call Transcript March 26, 2024 Oxbridge Re Holdings Limited isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good afternoon. Welcome to Oxbridge Re’s Fourth Quarter and Year End 2023 Earnings Call. My […]
Chubb Limited (CB) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.