Statistics of Price Movements of Chinaamc Sme-Chn Vaneck ETF (CNXT)

The price movements of Chinaamc Sme-Chn Vaneck ETF (ticker CNXT) are summarized in five ways:

• Table 1. Statistics of daily price changes using the closing prices
• Table 2. Statistics of daily price changes using the closing and opening prices
• Table 3 – 7. Statistics of daily price changes when CNXT opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
• Table 8 – 10. Statistics of stock price changes in the 20 days after CNXT had a big price move
• Table 11. Statistics of daily price changes in the 20 days after CNXT moved 5% with twice the 30-day average volume

The statistics are calculated using CNXT's price data across 1,550 trading days from 2015 to 2020.

Table 1. Statistics of CNXT one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 1,550 trading days, 49.9% of the time (773 days), CNXT closed above the previous day's closing price. 46.0% of the time (713 days), it closed below the previous day's closing price. 4.1% of the time (63 days), it did not change.

Also see: VIX price movement study.

CNXT Price Change (%)	Number of Days	% of Total Sessions
27 – 28%	1	0.06%
23 – 24%	1	0.06%
13 – 14%	1	0.06%
10 – 11%	1	0.06%
9 – 10%	2	0.13%
8 – 9%	3	0.19%
7 – 8%	5	0.32%
6 – 7%	8	0.52%
5 – 6%	10	0.65%
4 – 5%	29	1.87%
3 – 4%	47	3.03%
2 – 3%	91	5.87%
1 – 2%	209	13.49%
0 – 1%	365	23.56%
0%	63	4.07%
0 – -1%	357	23.05%
-1 – -2%	165	10.65%
-2 – -3%	88	5.68%
-3 – -4%	45	2.91%
-4 – -5%	24	1.55%
-5 – -6%	11	0.71%
-6 – -7%	6	0.39%
-7 – -8%	1	0.06%
-8 – -9%	5	0.32%
-9 – -10%	4	0.26%
-10 – -11%	1	0.06%
-11 – -12%	2	0.13%
-12 – -13%	1	0.06%
-14 – -15%	1	0.06%
-15 – -16%	2	0.13%

Table 2. Statistics of CNXT: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of CNXT.

46.8% of the time (725 days), CNXT closed above the opening price. 47.8% of the time (741 days), it closed below the opening price. 5.4% of the time (84 days), it closed where it started.

Closing - Open (%)	Number of Days	% of Total Sessions
7 – 8%	1	0.06%
6 – 7%	3	0.19%
5 – 6%	2	0.13%
4 – 5%	3	0.19%
3 – 4%	6	0.39%
2 – 3%	19	1.23%
1 – 2%	76	4.90%
0 – 1%	615	39.68%
0%	84	5.42%
0 – -1%	616	39.74%
-1 – -2%	84	5.42%
-2 – -3%	26	1.68%
-3 – -4%	8	0.52%
-4 – -5%	4	0.26%
-5 – -6%	1	0.06%
-7 – -8%	1	0.06%
-8 – -9%	1	0.06%

Table 3. One-day performance when CNXT opened 5% higher than previous close

In the past 1,550 trading days, CNXT opened more than 5% higher than the previous day's closing price 20 times. Of these days, 75.0% (15 days) had closing prices above the opening price, and 25.0% (5 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
7 – 8%	1	5.00%
6 – 7%	1	5.00%
3 – 4%	1	5.00%
2 – 3%	4	20.00%
1 – 2%	1	5.00%
0 – 1%	7	35.00%
0 – -1%	4	20.00%
-5 – -6%	1	5.00%

Table 4. Closing vs. open when CNXT opened 4–5% higher

On 24 days, CNXT opened 4–5% higher than the previous day's closing price. Of these days, 62.5% (15 days) had closing prices above the opening price, and 33.3% (8 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
4 – 5%	1	4.17%
2 – 3%	1	4.17%
1 – 2%	4	16.67%
0 – 1%	9	37.50%
0%	1	4.17%
0 – -1%	4	16.67%
-1 – -2%	2	8.33%
-3 – -4%	1	4.17%
-8 – -9%	1	4.17%

Table 5. Closing vs. open when CNXT open 3 – 4% higher

45 times CNXT opened 3 – 4% higher than the previous day's closing price. Among these days, 64.4% (29 days) closed above the opening price, 35.6% (16 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
2 – 3%	1	2.22%
1 – 2%	6	13.33%
0 – 1%	22	48.89%
0 – -1%	11	24.44%
-1 – -2%	2	4.44%
-2 – -3%	3	6.67%

Table 6. Closing vs. open when CNXT open 2 – 3% higher

83 times CNXT opened 2 – 3% higher than the previous day's closing price. Among these days, 53.0% (44 days) closed above the opening price, 43.4% (36 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
5 – 6%	1	1.20%
2 – 3%	1	1.20%
1 – 2%	5	6.02%
0 – 1%	37	44.58%
0%	3	3.61%
0 – -1%	33	39.76%
-1 – -2%	2	2.41%
-2 – -3%	1	1.20%

Table 7. Closing vs. open when CNXT open 1 – 2% higher

208 times CNXT opened 1 – 2% higher than the previous day's closing price. Among these days, 52.9% (110 days) closed above the opening price, 45.7% (95 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
4 – 5%	1	0.48%
2 – 3%	1	0.48%
1 – 2%	15	7.21%
0 – 1%	93	44.71%
0%	3	1.44%
0 – -1%	79	37.98%
-1 – -2%	10	4.81%
-2 – -3%	5	2.40%
-4 – -5%	1	0.48%

Table 8. Periods when CNXT moved 15% or more

In this table, we track the price movements in the 20 days after CNXT had a one-day price change of at least 15%.

Date	Price Change	Price Change after 15% Move
Days after:		1	4	7	10	13	16	19
20150709	27%	23.3	2.6	17.8	25.8	9.0	8.8	9.5
20150710	23.3%	-4.3	-9.2	-2.9	-3.2	-7.3	-14.5	-12.4
20150707	-15.7%	-9.5	35.7	28.6	37.6	37.2	31.4	21.1
20150824	-15.8%	2.2	8.8	-6.3	-6.8	5.6	-7.7	-2.1

Table 8a. CNXT average price changes following a 15% up day

Of the 1,550 trading days from 2015 to 2020, there were 2 days in which CNXT was up more than 15%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 15%	9.5	-3.3	7.5	11.3	.9	-2.9	-1.5

Table 8b. CNXT average price changes following a 15% down day

Of the 1,550 trading days from 2015 to 2020, there were 2 days in which CNXT was down more than -15%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -15%	-3.7	22.2	11.1	15.4	21.4	11.8	9.5

Table 9. Periods when CNXT moved 10% or more

In this table, we track the price movements in the 20 days after CNXT had a one-day price change of at least 10%.

Date	Price Change	Price Change after 10% Move
Days after:		1	4	7	10	13	16	19
20150709	27%	23.3	2.6	17.8	25.8	9.0	8.8	9.5
20150710	23.3%	-4.3	-9.2	-2.9	-3.2	-7.3	-14.5	-12.4
20150908	13.2%	-1.1	-8.2	-5.0	-1.9	-3.2	-.8	5.4
20150630	10%	-3.4	-12.8	-15.5	-2.9	1.1	2.1	-10.9
20150715	-10.7%	9.1	16.8	16.4	11.5	2.7	5.3	11.2
20150727	-11.6%	3.3	3.1	3.7	13.0	7.3	-1.8	-9.0
20200316	-11.7%	4.8	.2	4.6	2.9	6.0	9.0	10.4
20160104	-12.1%	.9	-8.5	-15.7	-15.5	-12.5	-17.3	-17.1
20150626	-14.8%	-4.8	-2.8	-23.0	9.1	-9.2	4.3	11.3
20150707	-15.7%	-9.5	35.7	28.6	37.6	37.2	31.4	21.1
20150824	-15.8%	2.2	8.8	-6.3	-6.8	5.6	-7.7	-2.1

Table 9a. CNXT average price changes following a 10% up day

Of the 1,550 trading days from 2015 to 2020, there were 4 days in which CNXT was up more than 10%. This table shows the average price changes over the 4 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 10%	3.7	-6.9	-1.4	4.5	-.1	-1.1	-2.1

Table 9b. CNXT average price changes following a 10% down day

Of the 1,550 trading days from 2015 to 2020, there were 7 days in which CNXT was down more than -10%. This table shows the average price changes over the 7 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -10%	.8	7.6	1.2	7.4	5.3	3.3	3.7

Table 10. Periods when CNXT moved 5% or more

In this table, we track the price movements in the 20 days after CNXT had a one-day price change of at least 5%.

Date	Price Change	Price Change after 5% Move
Days after:		1	4	7	10	13	16	19
20150709	27%	23.3	2.6	17.8	25.8	9.0	8.8	9.5
20150710	23.3%	-4.3	-9.2	-2.9	-3.2	-7.3	-14.5	-12.4
20150908	13.2%	-1.1	-8.2	-5.0	-1.9	-3.2	-.8	5.4
20150630	10%	-3.4	-12.8	-15.5	-2.9	1.1	2.1	-10.9
20160216	9.5%	3.2	4.1	-6.1	-8.9	-7.5	-8.4	-5.9
20150716	9%	7.0	8.0	-5.7	-2.7	.2	-.8	-1.8
20150827	8.7%	-.7	-14.5	-14.9	-3.6	-15.8	-10.6	-4.8
20200706	8.7%	.6	6.5	7.6	4.6	5.6	1.7	6.5
20151116	8%	-3.8	-.9	.6	-6.2	-4.7	-7.9	-10.4
20200204	7.9%	1.4	2.6	3.9	7.3	10.5	8.8	8.5
20150916	7.6%	1.0	4.3	2.9	5.5	12.0	13.9	19.1
20160119	7.6%	-1.7	-3.4	-13.5	-8.6	-7.7	-8.8	-10.5
20150921	7.4%	-1.5	-2.8	-.4	5.8	7.5	12.4	19.4
20150810	7.3%	-4.4	-4.9	-11.4	-32.2	-25.8	-35.8	-36.8
20150717	6.9%	-1.6	5.1	-9.0	-9.1	-8.6	-.4	-5.4
20151104	6.6%	-.3	3.8	-1.6	1.8	4.0	7.0	-1.1
20150804	6.4%	-2.4	6.3	1.0	-7.6	-14.3	-27.4	-24.9
20151022	6.3%	4.2	-1.7	-2.1	3.6	7.8	2.3	5.7
20200313	6.3%	-11.7	-8.5	-9.7	-11.0	-10.5	-4.5	-2.6
20150601	6%	5.1	1.2	2.6	-.0	-5.8	-10.2	-27.5
20160114	6%	-5.5	.1	-1.6	-11.9	-6.9	-6.0	-7.2
20190225	6%	.0	-.1	6.7	7.1	1.1	5.1	2.8
20151015	5.9%	2.3	-5.0	1.4	.9	-1.5	8.6	10.8
20160318	5.9%	1.0	-.4	-1.4	1.1	4.5	3.3	5.3
20181022	5.7%	-1.7	-4.6	-3.9	1.3	-2.8	1.6	4.2
20190311	5.6%	1.9	-4.0	-2.4	-4.4	-5.6	2.0	4.3
20200310	5.6%	-4.0	-16.9	-13.8	-15.0	-16.2	-15.7	-10.1
20150508	5.5%	4.8	8.2	13.8	21.3	26.7	26.8	30.5
20160129	5.2%	-2.9	4.2	-.4	-1.7	11.1	12.1	1.0
20150602	5.1%	-.7	-5.9	-.9	-8.4	-16.6	-14.2	-34.4
20151012	5.1%	-.2	6.0	-1.5	5.1	4.5	2.1	12.6
20160317	5%	6.0	7.4	6.5	7.8	8.7	8.0	11.6
20150618	-5%	-6.9	-4.3	-26.8	-25.2	-40.7	-16.0	-30.1
20150724	-5.1%	-11.6	-8.8	-6.1	-7.0	-7.9	-4.7	-13.5
20200327	-5.1%	2.0	5.1	8.1	9.5	7.8	9.9	9.8
20160229	-5.3%	3.0	4.6	3.6	6.4	10.9	18.1	17.0
20160420	-5.3%	-2.4	.6	-.2	1.2	-6.1	-5.7	-5.1
20160115	-5.4%	.0	3.6	-2.1	-1.9	-.0	-1.6	-4.8
20190513	-5.5%	3.0	.6	1.7	-1.5	1.5	1.2	-1.4
20150625	-5.6%	-14.8	-13.7	-22.2	-24.6	-13.3	-9.8	-8.9
20161212	-5.7%	1.0	-.2	.2	-1.2	-1.3	-.5	1.7
20200716	-5.8%	1.0	3.3	-.1	3.2	8.0	5.2	2.2
20160126	-5.9%	-1.3	-2.7	4.3	-.2	-1.6	11.3	12.3
20150706	-6%	-15.7	19.4	-.6	14.1	21.9	5.6	5.4
20160113	-6.1%	6.0	7.9	5.3	-3.1	-4.5	2.4	-2.1
20150528	-6.6%	1.1	11.9	6.0	11.6	3.2	-6.1	-3.4
20190506	-6.6%	-3.1	-.9	-2.4	-6.8	-7.3	-5.2	-5.0
20150619	-6.9%	.9	-2.9	-13.4	-19.6	-42.4	-13.6	-18.1
20150821	-6.9%	-15.9	-7.9	-20.3	-21.6	-12.1	-18.5	-15.6
20200312	-7.7%	6.4	-4.8	-7.8	-.2	-3.8	-.9	2.5
20151021	-8%	6.3	7.5	5.1	10.5	13.1	13.3	13.1
20150417	-8.2%	4.9	13.8	12.2	15.4	12.4	23.6	27.7
20160225	-8.2%	-.4	1.0	-1.0	-4.7	.0	10.7	12.2
20160107	-8.3%	-.6	-8.4	-8.1	-4.9	-10.1	-9.9	-8.2
20150818	-8.9%	1.9	-22.0	-14.6	-26.1	-27.3	-18.5	-24.4
20150901	-9.1%	-1.1	-1.6	11.4	-2.6	3.4	10.1	9.3
20150914	-9.1%	-4.8	1.1	7.6	6.8	9.4	14.3	16.3
20151127	-9.2%	2.7	4.4	.9	-1.8	4.7	7.3	5.5
20150708	-9.5%	27.0	46.0	52.1	53.5	34.0	38.3	42.5
20150715	-10.7%	9.1	16.8	16.4	11.5	2.7	5.3	11.2
20150727	-11.6%	3.3	3.1	3.7	13.0	7.3	-1.8	-9.0
20200316	-11.7%	4.8	.2	4.6	2.9	6.0	9.0	10.4
20160104	-12.1%	.9	-8.5	-15.7	-15.5	-12.5	-17.3	-17.1
20150626	-14.8%	-4.8	-2.8	-23.0	9.1	-9.2	4.3	11.3
20150707	-15.7%	-9.5	35.7	28.6	37.6	37.2	31.4	21.1
20150824	-15.8%	2.2	8.8	-6.3	-6.8	5.6	-7.7	-2.1

Table 10a. CNXT average price changes following a 5% up day

Of the 1,550 trading days from 2015 to 2020, there were 32 days in which CNXT was up more than 5%. This table shows the average price changes over the 32 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 5%	.3	-1.0	-1.8	-1.3	-1.4	-1.2	-1.5

Table 10b. CNXT average price changes following a 5% down day

Of the 1,550 trading days from 2015 to 2020, there were 34 days in which CNXT was down more than -5%. This table shows the average price changes over the 34 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -5%	-.2	3.1	.0	.9	-.3	2.5	1.8

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Also see: VIX price movement study.