Aggregated price index with volume information
Summary:
- Silver Ore Mining stocks down 0.1% on average while median return down -0.3% in a day
- Silver Ore Mining stocks down 3.1% on average while median return down 4.2% in a week
- Silver Ore Mining stocks up 10.4% on average while median return up 10.3% 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 $EXK 23.1%, $SSRM 20.1%, $HL 16.5%, $MAG 12.0%
- 1M losers are : Losers for past month are $AG -1.7%, $FSM -4.5%
- 1W winners are : Winners for past week are $SSRM 3.4%
- 1W losers are : Losers for past week are $AG -4.4%, $PAAS -4.7%, $EXK -5.3%, $FSM -7.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 78.5%, for the past 3 months is 73.9%
In the past month for a 5 days rolling window, the highest corrrelation is 92.1%, the lowest correlation is 38.3%, the latest correlation is 38.5%
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 89.3% between MAG and WPM
The lowest correlation is 61.2% between FSM and SSRM
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In the closing of the recent trading day, Fortuna Silver Mines (FSM) stood at $5.02, denoting a -0.4% change from the preceding trading day.
Fortuna (FSM) possesses solid growth attributes, which could help it handily outperform the market.
MAG Silver (MAG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
First Majestic's (AG) Q2 production gains from improved performances at La Encantada and Santa Elena mines, offset by lower production at San Dimas.
Here is how Fortuna Silver Mines (FSM) and Kinross Gold (KGC) have performed compared to their sector so far this year.
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Fortuna (FSM) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).