Aggregated price index with volume information
Summary:
- Wireless Telecommunications stocks up 1.4% on average while median return up 1.2% in a day
- Wireless Telecommunications stocks up 3.8% on average while median return up 2.8% in a week
- Wireless Telecommunications stocks up 1.9% on average while median return up -0.3% 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 $IRDM 19.3%, $TKC 18.2%, $GOGO 5.3%, $USM 2.2%, $TIGO 1.7%
- 1M losers are : Losers for past month are $S -4.9%, $SKM -4.9%, $TIMB -5.2%, $GSAT -5.8%, $RCI -7.9%
- 1W winners are : Winners for past week are $IRDM 14.5%, $GOGO 9.3%, $S 7.5%, $SPOK 5.7%, $TKC 4.2%
- 1W losers are : Losers for past week are $RCI -1.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 24.4%, for the past 3 months is 15.7%
In the past month for a 5 days rolling window, the highest corrrelation is 42.3%, the lowest correlation is 0.2%, the latest correlation is 7.0%
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 77.0% between TDS and USM
The lowest correlation is -59.3% between AMX and PTNR
TMUS appears to be a better pick now compared to T, given the solid EPS growth in recent quarters, greater 5G coverage and robust demand for postpaid services.
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