Aggregated price index with volume information
Summary:
- Real Estate Broker stocks down 2.7% on average while median return down 2.8% in a day
- Real Estate Broker stocks down 0.9% on average while median return down 1.2% in a week
- Real Estate Broker stocks down 12.9% on average while median return down 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 $EXPI 2.9%
- 1M losers are : Losers for past month are $RDFN -12.2%, $FTHM -22.1%, $OPEN -28.9%
- 1W winners are : Winners for past week are $Z 2.7%, $RMAX 1.0%
- 1W losers are : Losers for past week are $RDFN -2.4%, $FTHM -2.6%, $OPEN -3.7%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 53.1%, for the past 3 months is 48.9%
In the past month for a 5 days rolling window, the highest corrrelation is 74.3%, the lowest correlation is 2.3%, the latest correlation is 48.6%
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 82.4% between EXPI and OPEN
The lowest correlation is 12.1% between EXPI and FTHM
Microsoft and Google jumped on earnings late after the market rally attempt showed resilience Wednesday amid Meta's sell-off.
Meta Selloff, GDP Data Drag Equity Markets Lower
Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms. Three other Magnificent Seven stocks, including Alphabet, Amazon.com and Microsoft, finished lower. However, shares of Alphabet and Microsoft were advancing in extended hours trading after both companies reported quarterly results that beat Wall ...
Stocks closed lower on worries about a potentially toxic cocktail for financial markets, one where inflation remains stubbornly high but the economy’s growth flags. The Dow Jones Industrial Average lost 1%, and the Nasdaq composite gave back 0.6%. The Nasdaq composite fell 100.99 points, or 0.6%, to 15,611.76.
Big spending on the part of tech giants equals big-time revenue for these three companies.
The major U.S. indexes fell on Thursday, as investors found risks to the inflation outlook in the latest economic data. The S&P 500 was off 0.5%, while the tech-heavy Nasdaq Composite declined 0.6%. Both the S&P 500 and the Nasdaq broke their three-day winning streaks.
Meta Selloff, GDP Report Drag Equity Markets Lower
Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990. Tepid U.S. GDP data pushed Wall Street lower at its open, and Meta's slump also soured the mood. U.S. Treasury yields rose after the data showed signs of persistent inflation, lowering hopes that the Federal Reserve will cut interest rates anytime soon.
Meta Selloff, GDP Report Weigh on Equity Markets Intraday
David Donabedian, CIO of CIBC Private Wealth U.S., warned the spike in core inflation seen in the latest GDP report is a major setback for the economy and the Fed.