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Correlation & Beta Chart Help Page



Indices


Sector Index:

  The market cap. weighted price index of the displayed sector and region (Global, US, Non-US) based on shares outstanding. (Right-hand scale.)

Advance-Decline Line:

  A measure of breadth within the sector. This index-line increases by 1 point per day for every stock in the sector that rises and declines by one point for every stock that depreciates. The Advance-Decline Line can indicate underlying strength or weakness in a sector. (Left-hand scale.)

Vs All Stocks Index


Correlation 3m:

  The 3-month correlation of the displayed sector versus the broad market regionally referenced, and measured on the left hand scale  This is with the exception of the US- and Non-US All Stocks Indices, as well as the US Index Proxies where the correlation shown is relative to the Global All Stocks Index. 

Beta 3m:

  The 3-month beta of the displayed sector versus the broad market regionally referenced, and measured on the right hand scale  This is with the exception of the US- and Non-US All Stocks Indices, as well as the US Index Proxies where the beta shown is relative to the Global All Stocks Index. 

Vs Parent Sector (for subsectors and industry groups only)


Correlation 3m:

  Where applicable the 3-month correlation of the displayed sector versus the top level parent sector regionally referenced, and measured on the left hand scale 

Beta 3m:

  Where applicable the 3-month beta of the displayed sector versus the top level parent sector, and measured on the right hand scale.

Key Statistics Table


M’Cap:

  The aggregate market cap of sector stock constituents.

Stock Count:

  Number of stocks in the sector index.

1-Day Breadth:

  The number of advancing issues divided by the number of declining issues (or vice-versa if negative). “Max” denotes that all stocks in the sector traded up and “Min” denotes that all stocks traded down.

Sector Performance:

  The price change in the cap. weighted price index for the sector.

Beta:

  The Beta of the sector price index against the price-index of the total market (US sector against US market index but Non-US sector against Global market index) measured over 60 trading days. The Beta could be positive even if the correlation were zero, as random movements in the same direction could happen more often on days with larger price movements in the sector index than on days with smaller price movements.

Correlation:

  The correlation between the sector price index and that of the total market for the same region measured in the same way as Beta. A correlation of 1.0 would imply that the sector and the total market were perfectly correlated, i.e. they move in lock-step each trading day (although possibly at different rates of change as measured by the Beta), a value of zero would imply no correlation, and a value of -1.0 would imply a perfect inverse daily correlation.

Note that our definition of “Non-US” only refers to non-US domiciled stocks trading on US exchanges. “Global” refers to US traded stocks of all domiciles.

 


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