Statistics of Price Movements of Arcturus Therapeutics Ltd (ARCT)

The price movements of Arcturus Therapeutics Ltd (ticker ARCT) 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 ARCT 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 ARCT had a big price move
• Table 11. Statistics of daily price changes in the 20 days after ARCT moved 5% with twice the 30-day average volume

The statistics are calculated using ARCT's price data across 797 trading days from 2017 to 2020.

Table 1. Statistics of ARCT 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 797 trading days, 48.0% of the time (382 days), ARCT closed above the previous day's closing price. 46.2% of the time (368 days), it closed below the previous day's closing price. 5.8% of the time (46 days), it did not change.

Also see: VIX price movement study.

ARCT Price Change (%)	Number of Days	% of Total Sessions
36 – 37%	1	0.13%
35 – 36%	1	0.13%
31 – 32%	1	0.13%
25 – 26%	1	0.13%
24 – 25%	1	0.13%
23 – 24%	1	0.13%
21 – 22%	1	0.13%
20 – 21%	1	0.13%
19 – 20%	4	0.50%
18 – 19%	2	0.25%
17 – 18%	2	0.25%
16 – 17%	3	0.38%
15 – 16%	2	0.25%
14 – 15%	2	0.25%
13 – 14%	5	0.63%
12 – 13%	3	0.38%
11 – 12%	4	0.50%
10 – 11%	11	1.38%
9 – 10%	6	0.75%
8 – 9%	9	1.13%
7 – 8%	14	1.76%
6 – 7%	21	2.64%
5 – 6%	23	2.89%
4 – 5%	33	4.15%
3 – 4%	44	5.53%
2 – 3%	61	7.66%
1 – 2%	56	7.04%
0 – 1%	69	8.67%
0%	46	5.78%
0 – -1%	68	8.54%
-1 – -2%	73	9.17%
-2 – -3%	53	6.66%
-3 – -4%	48	6.03%
-4 – -5%	36	4.52%
-5 – -6%	22	2.76%
-6 – -7%	18	2.26%
-7 – -8%	13	1.63%
-8 – -9%	6	0.75%
-9 – -10%	8	1.01%
-10 – -11%	3	0.38%
-11 – -12%	4	0.50%
-12 – -13%	3	0.38%
-13 – -14%	3	0.38%
-14 – -15%	1	0.13%
-16 – -17%	2	0.25%
-17 – -18%	1	0.13%
-18 – -19%	1	0.13%
-19 – -20%	2	0.25%
-24 – -25%	1	0.13%
-28 – -29%	1	0.13%
-37 – -38%	1	0.13%

Table 2. Statistics of ARCT: 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 ARCT.

45.4% of the time (362 days), ARCT closed above the opening price. 49.2% of the time (392 days), it closed below the opening price. 5.4% of the time (43 days), it closed where it started.

Closing - Open (%)	Number of Days	% of Total Sessions
27 – 28%	1	0.13%
24 – 25%	1	0.13%
23 – 24%	1	0.13%
22 – 23%	1	0.13%
21 – 22%	1	0.13%
17 – 18%	2	0.25%
16 – 17%	3	0.38%
15 – 16%	6	0.75%
14 – 15%	2	0.25%
13 – 14%	5	0.63%
11 – 12%	1	0.13%
10 – 11%	4	0.50%
9 – 10%	14	1.76%
8 – 9%	12	1.51%
7 – 8%	11	1.38%
6 – 7%	18	2.26%
5 – 6%	29	3.64%
4 – 5%	36	4.52%
3 – 4%	34	4.27%
2 – 3%	56	7.03%
1 – 2%	64	8.03%
0 – 1%	60	7.53%
0%	43	5.40%
0 – -1%	76	9.54%
-1 – -2%	63	7.90%
-2 – -3%	73	9.16%
-3 – -4%	43	5.40%
-4 – -5%	32	4.02%
-5 – -6%	25	3.14%
-6 – -7%	22	2.76%
-7 – -8%	10	1.25%
-8 – -9%	11	1.38%
-9 – -10%	8	1.00%
-10 – -11%	8	1.00%
-11 – -12%	3	0.38%
-12 – -13%	1	0.13%
-13 – -14%	3	0.38%
-14 – -15%	4	0.50%
-15 – -16%	3	0.38%
-16 – -17%	3	0.38%
-21 – -22%	1	0.13%
-26 – -27%	1	0.13%
-27 – -28%	1	0.13%
-39 – -40%	1	0.13%

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

In the past 797 trading days, ARCT opened more than 5% higher than the previous day's closing price 25 times. Of these days, 36.0% (9 days) had closing prices above the opening price, and 64.0% (16 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
22 – 23%	1	4.00%
21 – 22%	1	4.00%
17 – 18%	1	4.00%
14 – 15%	1	4.00%
9 – 10%	1	4.00%
6 – 7%	1	4.00%
5 – 6%	2	8.00%
0 – 1%	1	4.00%
-1 – -2%	2	8.00%
-2 – -3%	1	4.00%
-3 – -4%	1	4.00%
-4 – -5%	1	4.00%
-5 – -6%	3	12.00%
-8 – -9%	1	4.00%
-9 – -10%	1	4.00%
-11 – -12%	2	8.00%
-12 – -13%	1	4.00%
-14 – -15%	1	4.00%
-15 – -16%	1	4.00%
-21 – -22%	1	4.00%

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

On 11 days, ARCT opened 4–5% higher than the previous day's closing price. Of these days, 27.3% (3 days) had closing prices above the opening price, and 72.7% (8 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
7 – 8%	1	9.09%
5 – 6%	1	9.09%
0 – 1%	1	9.09%
-2 – -3%	3	27.27%
-3 – -4%	1	9.09%
-8 – -9%	1	9.09%
-9 – -10%	1	9.09%
-10 – -11%	1	9.09%
-27 – -28%	1	9.09%

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

28 times ARCT opened 3 – 4% higher than the previous day's closing price. Among these days, 39.3% (11 days) closed above the opening price, 53.6% (15 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
15 – 16%	1	3.57%
13 – 14%	1	3.57%
9 – 10%	2	7.14%
8 – 9%	1	3.57%
7 – 8%	1	3.57%
6 – 7%	1	3.57%
4 – 5%	1	3.57%
3 – 4%	1	3.57%
1 – 2%	1	3.57%
0 – 1%	1	3.57%
0%	2	7.14%
-1 – -2%	2	7.14%
-2 – -3%	2	7.14%
-3 – -4%	2	7.14%
-5 – -6%	3	10.71%
-6 – -7%	2	7.14%
-8 – -9%	1	3.57%
-14 – -15%	2	7.14%
-39 – -40%	1	3.57%

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

54 times ARCT opened 2 – 3% higher than the previous day's closing price. Among these days, 44.4% (24 days) closed above the opening price, 51.9% (28 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
17 – 18%	1	1.85%
16 – 17%	2	3.70%
10 – 11%	1	1.85%
8 – 9%	1	1.85%
6 – 7%	1	1.85%
5 – 6%	2	3.70%
3 – 4%	2	3.70%
2 – 3%	4	7.41%
1 – 2%	6	11.11%
0 – 1%	4	7.41%
0%	2	3.70%
0 – -1%	2	3.70%
-1 – -2%	4	7.41%
-2 – -3%	8	14.81%
-4 – -5%	4	7.41%
-5 – -6%	1	1.85%
-6 – -7%	3	5.56%
-7 – -8%	3	5.56%
-10 – -11%	1	1.85%
-13 – -14%	1	1.85%
-15 – -16%	1	1.85%

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

109 times ARCT opened 1 – 2% higher than the previous day's closing price. Among these days, 46.8% (51 days) closed above the opening price, 50.5% (55 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
23 – 24%	1	0.92%
16 – 17%	1	0.92%
15 – 16%	3	2.75%
11 – 12%	1	0.92%
9 – 10%	1	0.92%
8 – 9%	2	1.83%
6 – 7%	1	0.92%
5 – 6%	2	1.83%
4 – 5%	8	7.34%
3 – 4%	2	1.83%
2 – 3%	5	4.59%
1 – 2%	10	9.17%
0 – 1%	14	12.84%
0%	3	2.75%
0 – -1%	10	9.17%
-1 – -2%	9	8.26%
-2 – -3%	13	11.93%
-3 – -4%	5	4.59%
-4 – -5%	5	4.59%
-5 – -6%	6	5.50%
-6 – -7%	4	3.67%
-8 – -9%	1	0.92%
-10 – -11%	1	0.92%
-16 – -17%	1	0.92%

Table 8. Periods when ARCT moved 15% or more

In this table, we track the price movements in the 20 days after ARCT 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
20190619	36.6%	10.9	23.9	19.5	18.2	17.3	13.8	15.9
20200427	35.2%	-2.3	33.8	35.5	58.7	35.8	82.0	90.9
20200316	31.1%	14.6	-1.1	29.1	8.5	3.7	12.0	24.4
20201127	25.3%
20201111	24%	-1.5	8.7	23.5	24.1	87.9	103.3	104.9
20200511	23.5%	-4.4	-6.6	17.1	20.3	-24.2	-17.1	-32.6
20180104	21.3%	-.1	.3	-4.3	-1.9	-1.3	-6.5	-18.1
20201130	20.7%
20190816	19.9%	4.8	3.2	3.4	6.3	5.3	-2.5	.6
20200518	19.4%	2.8	7.8	-28.7	-26.3	-37.9	-45.1	-39.1
20200324	19.2%	2.7	-13.7	-17.5	-10.9	-1.0	17.3	17.7
20201203	19.2%
20200501	18.4%	-4.4	-8.1	13.3	10.7	38.9	42.6	-10.1
20201210	18.4%
20200727	17.6%	-12.0	-17.3	-11.2	-6.8	-24.3	-11.1	-.9
20190327	17.4%	1.7	19.9	23.8	24.1	19.9	17.6	13.6
20201005	16.7%	-5.6	2.3	3.2	7.4	-5.4	5.2	8.2
20200615	16.6%	-4.1	7.3	26.4	22.3	21.2	29.3	22.1
20180522	16%	-4.4	-12.9	-15.4	-3.0	7.3	20.4	29.4
20200304	15.7%	8.8	-19.3	-44.5	-18.7	-23.3	-9.1	-19.0
20180205	15.1%	.6	-21.4	-19.0	-15.5	-18.9	-17.7	-18.2
20200330	-16.2%	2.6	-2.0	3.8	24.6	28.3	40.7	70.3
20200811	-16.3%	-4.0	9.3	19.4	9.5	6.2	-17.5	-21.6
20181022	-17.6%	-5.6	-12.9	-1.8	30.7	29.9	24.7	23.6
20180202	-18.8%	15.2	.0	-10.6	-2.7	-5.9	-3.9	-6.7
20201208	-19%
20200309	-19.3%	-6.7	-35.9	-6.0	-11.4	5.0	-6.4	-10.5
20200312	-24.3%	-6.0	37.9	30.0	54.0	37.3	31.2	39.0
20200527	-28.9%	-4.7	4.2	-15.3	-18.2	-.4	3.9	14.9
20201109	-37.3%	13.8	37.2	62.8	77.1	75.2	135.3	223.6

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

Of the 797 trading days from 2017 to 2020, there were 21 days in which ARCT was up more than 15%. This table shows the average price changes over the 21 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 15%	1.5	2.4	4.0	7.5	4.8	11.2	9.0

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

Of the 797 trading days from 2017 to 2020, there were 9 days in which ARCT was down more than -15%. This table shows the average price changes over the 9 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -15%	-.7	4.2	9.1	18.2	19.5	23.1	37.0

Table 9. Periods when ARCT moved 10% or more

In this table, we track the price movements in the 20 days after ARCT 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
20190619	36.6%	10.9	23.9	19.5	18.2	17.3	13.8	15.9
20200427	35.2%	-2.3	33.8	35.5	58.7	35.8	82.0	90.9
20200316	31.1%	14.6	-1.1	29.1	8.5	3.7	12.0	24.4
20201127	25.3%
20201111	24%	-1.5	8.7	23.5	24.1	87.9	103.3	104.9
20200511	23.5%	-4.4	-6.6	17.1	20.3	-24.2	-17.1	-32.6
20180104	21.3%	-.1	.3	-4.3	-1.9	-1.3	-6.5	-18.1
20201130	20.7%
20190816	19.9%	4.8	3.2	3.4	6.3	5.3	-2.5	.6
20200518	19.4%	2.8	7.8	-28.7	-26.3	-37.9	-45.1	-39.1
20200324	19.2%	2.7	-13.7	-17.5	-10.9	-1.0	17.3	17.7
20201203	19.2%
20200501	18.4%	-4.4	-8.1	13.3	10.7	38.9	42.6	-10.1
20201210	18.4%
20200727	17.6%	-12.0	-17.3	-11.2	-6.8	-24.3	-11.1	-.9
20190327	17.4%	1.7	19.9	23.8	24.1	19.9	17.6	13.6
20201005	16.7%	-5.6	2.3	3.2	7.4	-5.4	5.2	8.2
20200615	16.6%	-4.1	7.3	26.4	22.3	21.2	29.3	22.1
20180522	16%	-4.4	-12.9	-15.4	-3.0	7.3	20.4	29.4
20200304	15.7%	8.8	-19.3	-44.5	-18.7	-23.3	-9.1	-19.0
20180205	15.1%	.6	-21.4	-19.0	-15.5	-18.9	-17.7	-18.2
20200317	14.5%	-2.4	-8.0	9.0	-2.9	-7.1	-1.6	18.0
20181102	14%	2.9	2.3	-1.9	-2.7	-12.1	-8.6	-9.3
20201110	13.7%	24.0	28.8	50.7	52.7	93.0	111.5	214.0
20181101	13.4%	14.0	12.7	12.1	10.4	-1.0	2.1	-.5
20190719	13.4%	7.9	5.4	30.3	4.7	-5.7	-7.5	-18.3
20200714	13.2%	-5.5	1.8	-4.5	-2.7	-8.6	-1.8	3.0
20180611	13%	-4.0	9.0	7.9	7.4	3.7	6.0	6.1
20201204	12.7%
20190730	12.5%	-3.0	-21.8	-28.1	-28.5	-24.7	-26.5	-22.6
20200211	12.4%	-1.0	.3	6.9	-.4	.4	21.6	5.2
20180502	11.7%	4.8	-2.0	1.8	6.1	7.9	10.9	13.4
20200817	11.6%	4.3	16.4	5.6	-10.4	-27.6	-26.6	-23.4
20180604	11.5%	8.1	19.6	34.2	44.3	43.0	49.2	35.0
20190621	11.1%	.5	-.6	-3.4	-2.1	-1.5	-8.3	-2.6
20190620	10.8%	11.2	11.1	8.4	6.6	1.9	3.3	3.9
20201207	10.4%
20190528	10.3%	-3.4	1.0	-5.6	-7.9	-10.8	11.0	37.5
20190613	10.3%	-8.5	13.8	41.1	39.5	35.6	37.5	38.2
20200409	10.3%	.0	18.5	18.9	35.0	96.3	169.0	172.4
20200429	10.3%	4.8	16.9	19.2	27.6	64.2	64.3	64.9
20181231	10.2%	.0	13.1	19.4	10.4	13.7	9.1	11.7
20191003	10.2%	1.1	-4.4	1.5	-1.7	-7.7	-1.9	9.0
20190301	10.1%	-8.3	-16.6	-15.3	-9.9	-1.8	-7.2	16.9
20181115	10%	.4	-9.3	-5.6	-6.3	-13.8	-19.0	-19.9
20200424	10%	35.3	52.9	70.4	73.8	86.1	139.5	139.7
20200603	-10.1%	-7.0	-17.8	-8.8	7.2	12.7	38.2	29.4
20181114	-10.3%	10.1	-1.3	1.8	-.8	-.6	-10.2	-17.2
20190927	-10.7%	-1.4	.1	.1	3.1	3.7	-5.0	-2.0
20201209	-11%
20200723	-11.1%	-1.7	-2.7	-1.2	2.7	-9.8	-11.7	6.2
20201201	-11.2%
20200626	-11.4%	6.3	5.3	12.4	6.1	22.2	31.7	23.6
20171120	-12%	.8	2.4	3.5	2.4	-2.7	-3.6	-6.9
20200728	-12%	-4.4	-2.9	.9	-11.4	-13.3	4.4	-2.4
20200901	-12%	-4.1	-8.9	-9.0	5.6	-4.0	-11.6	.8
20190513	-13.1%	2.9	7.4	10.3	11.2	13.3	21.8	14.1
20200921	-13.2%	1.1	-1.5	5.4	22.8	26.8	31.6	35.5
20200824	-13.4%	-.6	-3.6	-25.1	-28.8	-28.8	-17.4	-25.0
20190801	-14.9%	-2.6	-12.3	-14.0	-24.0	-8.7	-5.9	-3.5
20200330	-16.2%	2.6	-2.0	3.8	24.6	28.3	40.7	70.3
20200811	-16.3%	-4.0	9.3	19.4	9.5	6.2	-17.5	-21.6
20181022	-17.6%	-5.6	-12.9	-1.8	30.7	29.9	24.7	23.6
20180202	-18.8%	15.2	.0	-10.6	-2.7	-5.9	-3.9	-6.7
20201208	-19%
20200309	-19.3%	-6.7	-35.9	-6.0	-11.4	5.0	-6.4	-10.5
20200312	-24.3%	-6.0	37.9	30.0	54.0	37.3	31.2	39.0
20200527	-28.9%	-4.7	4.2	-15.3	-18.2	-.4	3.9	14.9
20201109	-37.3%	13.8	37.2	62.8	77.1	75.2	135.3	223.6

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

Of the 797 trading days from 2017 to 2020, there were 46 days in which ARCT was up more than 10%. This table shows the average price changes over the 46 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 10%	2.3	4.1	7.7	8.7	9.2	16.5	19.2

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

Of the 797 trading days from 2017 to 2020, there were 23 days in which ARCT was down more than -10%. This table shows the average price changes over the 23 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -10%	.6	2.3	3.8	6.9	8.1	11.8	16.7

Table 10. Periods when ARCT moved 5% or more

In this table, we track the price movements in the 20 days after ARCT 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
20190619	36.6%	10.9	23.9	19.5	18.2	17.3	13.8	15.9
20200427	35.2%	-2.3	33.8	35.5	58.7	35.8	82.0	90.9
20200316	31.1%	14.6	-1.1	29.1	8.5	3.7	12.0	24.4
20201127	25.3%
20201111	24%	-1.5	8.7	23.5	24.1	87.9	103.3	104.9
20200511	23.5%	-4.4	-6.6	17.1	20.3	-24.2	-17.1	-32.6
20180104	21.3%	-.1	.3	-4.3	-1.9	-1.3	-6.5	-18.1
20201130	20.7%
20190816	19.9%	4.8	3.2	3.4	6.3	5.3	-2.5	.6
20200518	19.4%	2.8	7.8	-28.7	-26.3	-37.9	-45.1	-39.1
20200324	19.2%	2.7	-13.7	-17.5	-10.9	-1.0	17.3	17.7
20201203	19.2%
20200501	18.4%	-4.4	-8.1	13.3	10.7	38.9	42.6	-10.1
20201210	18.4%
20200727	17.6%	-12.0	-17.3	-11.2	-6.8	-24.3	-11.1	-.9
20190327	17.4%	1.7	19.9	23.8	24.1	19.9	17.6	13.6
20201005	16.7%	-5.6	2.3	3.2	7.4	-5.4	5.2	8.2
20200615	16.6%	-4.1	7.3	26.4	22.3	21.2	29.3	22.1
20180522	16%	-4.4	-12.9	-15.4	-3.0	7.3	20.4	29.4
20200304	15.7%	8.8	-19.3	-44.5	-18.7	-23.3	-9.1	-19.0
20180205	15.1%	.6	-21.4	-19.0	-15.5	-18.9	-17.7	-18.2
20200317	14.5%	-2.4	-8.0	9.0	-2.9	-7.1	-1.6	18.0
20181102	14%	2.9	2.3	-1.9	-2.7	-12.1	-8.6	-9.3
20201110	13.7%	24.0	28.8	50.7	52.7	93.0	111.5	214.0
20181101	13.4%	14.0	12.7	12.1	10.4	-1.0	2.1	-.5
20190719	13.4%	7.9	5.4	30.3	4.7	-5.7	-7.5	-18.3
20200714	13.2%	-5.5	1.8	-4.5	-2.7	-8.6	-1.8	3.0
20180611	13%	-4.0	9.0	7.9	7.4	3.7	6.0	6.1
20201204	12.7%
20190730	12.5%	-3.0	-21.8	-28.1	-28.5	-24.7	-26.5	-22.6
20200211	12.4%	-1.0	.3	6.9	-.4	.4	21.6	5.2
20180502	11.7%	4.8	-2.0	1.8	6.1	7.9	10.9	13.4
20200817	11.6%	4.3	16.4	5.6	-10.4	-27.6	-26.6	-23.4
20180604	11.5%	8.1	19.6	34.2	44.3	43.0	49.2	35.0
20190621	11.1%	.5	-.6	-3.4	-2.1	-1.5	-8.3	-2.6
20190620	10.8%	11.2	11.1	8.4	6.6	1.9	3.3	3.9
20201207	10.4%
20190528	10.3%	-3.4	1.0	-5.6	-7.9	-10.8	11.0	37.5
20190613	10.3%	-8.5	13.8	41.1	39.5	35.6	37.5	38.2
20200409	10.3%	.0	18.5	18.9	35.0	96.3	169.0	172.4
20200429	10.3%	4.8	16.9	19.2	27.6	64.2	64.3	64.9
20181231	10.2%	.0	13.1	19.4	10.4	13.7	9.1	11.7
20191003	10.2%	1.1	-4.4	1.5	-1.7	-7.7	-1.9	9.0
20190301	10.1%	-8.3	-16.6	-15.3	-9.9	-1.8	-7.2	16.9
20181115	10%	.4	-9.3	-5.6	-6.3	-13.8	-19.0	-19.9
20200424	10%	35.3	52.9	70.4	73.8	86.1	139.5	139.7
20190923	9.6%	-7.0	-28.1	-34.8	-27.8	-27.7	-26.9	-32.8
20200624	9.6%	2.8	-3.7	-4.1	5.4	3.9	9.8	18.5
20191206	9.3%	-2.0	.0	6.0	4.4	11.5	-3.2	-6.9
20200414	9.3%	-.3	.1	13.6	65.2	126.4	129.3	168.4
20190403	9%	-5.2	-2.7	-6.2	-10.8	-10.0	-6.6	-9.0
20200515	9%	19.5	19.6	20.0	-13.9	-20.2	-34.1	-27.5
20190401	8.9%	2.8	6.2	6.5	2.8	.8	-2.6	8.1
20200305	8.8%	-1.4	-28.3	-33.1	-29.8	-15.9	-13.4	-30.7
20200623	8.8%	9.6	6.0	5.1	12.1	5.8	21.9	31.4
20200113	8.7%	-3.0	-2.1	2.1	-8.8	-14.6	-10.1	-.7
20200413	8.6%	9.3	7.0	17.1	84.9	109.0	133.0	137.6
20191118	8.5%	-1.0	-.1	10.1	6.2	1.3	11.8	2.2
20201029	8.4%	-1.6	-28.4	-13.7	2.5	11.5	10.3	48.1
20180605	8.1%	3.4	25.0	26.6	29.9	38.4	34.8	27.5
20180914	8.1%	1.4	6.8	3.0	-3.1	-8.9	-18.7	-26.4
20201007	7.9%	1.4	5.2	8.3	-7.5	-1.9	8.0	-32.0
20190722	7.8%	-1.1	-.5	17.1	-5.6	-13.2	-13.7	-9.1
20190729	7.8%	12.5	-9.5	-18.5	-20.1	-29.4	-15.2	-12.6
20200522	7.7%	.0	-36.9	-31.0	-44.0	-45.9	-34.1	-31.3
20180615	7.6%	-2.1	-2.9	1.3	-8.3	-2.7	-4.4	-9.2
20200713	7.6%	13.3	10.8	21.8	25.2	8.6	8.2	14.0
20181029	7.5%	1.6	35.7	34.1	33.3	31.4	17.8	21.5
20200506	7.5%	-9.2	11.9	9.3	37.1	40.8	-11.2	-2.9
20190920	7.4%	9.7	-11.7	-28.1	-20.3	-24.6	-19.9	-22.5
20190710	7.3%	-6.3	-4.5	12.3	23.0	30.0	20.8	9.9
20191217	7.3%	1.3	5.0	9.1	-4.5	-12.7	-4.7	6.5
20200122	7.1%	-3.4	-12.5	-16.7	-9.6	-.8	12.1	14.1
20190313	7%	-1.2	6.8	2.6	26.8	47.9	57.3	61.3
20191216	7%	7.4	5.8	12.9	-1.9	-5.7	-1.5	5.1
20200925	6.9%	2.4	6.6	17.6	27.5	28.6	33.9	18.0
20200722	6.8%	-11.2	-9.6	-15.0	-8.7	-4.2	-22.2	-8.7
20200914	6.8%	2.0	13.7	-5.5	-.4	3.6	14.4	24.0
20201116	6.8%
20190918	6.7%	5.5	15.6	-10.6	-18.9	-10.2	-10.1	-9.1
20191023	6.7%	-.7	9.0	7.9	4.9	-5.3	-6.4	-6.7
20190910	6.6%	2.4	-1.5	12.0	22.8	-5.1	-13.8	-4.6
20191223	6.6%	.2	-4.1	-9.0	-12.5	-10.4	-1.6	-.7
20200207	6.5%	2.0	15.3	17.4	24.1	16.3	17.2	51.8
20200323	6.5%	19.3	22.9	-1.6	2.6	18.0	40.2	37.3
20200821	6.5%	-13.4	-12.4	-32.3	-38.9	-35.4	-32.9	-25.2
20200916	6.5%	1.6	-8.2	-10.5	-4.2	11.5	15.2	19.5
20181212	6.4%	.4	.4	-17.7	-18.6	-16.6	-10.7	-.4
20190312	6.3%	7.0	12.8	16.8	15.5	45.3	77.4	72.1
20191028	6.3%	3.0	1.9	-.9	-10.5	-11.6	-11.9	-11.0
20190531	6.2%	3.0	-3.7	-6.0	-9.0	13.2	40.3	38.7
20200610	6.2%	4.0	16.7	30.7	53.9	48.9	47.6	57.4
20200629	6.2%	-.5	-.9	8.9	7.4	13.5	22.5	14.3
20201015	6.1%	.7	-13.9	-8.7	.5	-36.8	-12.1	-2.9
20200423	6%	10.0	60.5	90.5	83.2	125.7	120.6	176.6
20201118	6%
20190318	5.9%	1.3	-2.6	20.4	40.4	49.2	53.1	47.5
20200204	5.9%	2.7	12.7	27.4	29.7	37.1	28.5	29.5
20200529	5.9%	2.2	-13.7	-23.7	-15.5	-.6	4.5	28.2
20190822	5.7%	.0	2.5	3.0	.7	.7	-2.7	7.0
20191112	5.7%	-2.7	-5.9	-6.7	1.3	8.4	-1.7	2.1
20190104	5.6%	3.0	3.6	-.5	-2.0	-2.8	-2.4	-2.4
20180409	5.4%	-3.1	-.2	5.4	-5.5	-9.2	-7.6	5.7
20190326	5.4%	17.5	37.0	45.7	49.4	44.0	37.0	38.3
20190919	5.4%	7.5	5.2	-16.5	-15.2	-15.2	-12.7	-12.1
20191204	5.4%	-3.0	7.0	-2.2	13.9	18.1	22.6	7.4
20200826	5.4%	-3.4	-25.4	-32.7	-28.8	-26.0	-17.5	-31.5
20181005	5.3%	-6.1	-14.9	-13.0	-15.3	-37.7	-34.7	-22.3
20190208	5.3%	-4.9	-5.8	-7.9	-7.3	-5.6	-3.1	-11.9
20201119	5.3%
20180212	5.2%	-6.2	2.1	-1.2	.9	-2.1	.2	.5
20190329	5.2%	8.9	15.8	18.8	14.5	8.9	10.0	14.1
20190516	5.2%	1.0	3.7	4.5	6.5	14.5	7.3	1.9
20200106	5.2%	-.2	6.5	16.1	13.5	14.2	3.4	-1.5
20200219	5.2%	-.7	-7.5	-6.8	12.9	-2.3	-33.4	-5.9
20201027	5.2%	-3.6	5.1	-7.1	-3.6	12.9	14.4	44.5
20180418	5.1%	-.9	-8.8	-11.2	-1.9	-4.0	-2.6	-.2
20191010	5.1%	2.5	3.1	-5.5	-2.6	7.0	5.8	2.9
20200617	5.1%	3.5	14.4	14.2	24.6	22.9	25.6	47.6
20180322	-5%	1.6	-1.1	-9.0	-7.8	-7.6	-4.8	.5
20180710	-5%	-.6	-1.0	1.2	-2.7	-5.7	-6.7	-11.2
20180716	-5.1%	2.2	.4	.1	-3.2	-10.3	-9.5	-4.9
20190311	-5.1%	6.3	13.1	23.3	16.5	46.8	73.1	78.7
20190404	-5.1%	-.1	.1	-3.3	-5.2	-8.3	1.6	-7.5
20191017	-5.1%	-4.9	.3	6.1	7.9	6.2	-4.1	-2.2
20181024	-5.3%	1.0	6.5	42.3	40.7	39.8	37.8	23.6
20181206	-5.3%	-.7	-1.8	-.9	-12.5	-17.5	-25.7	-15.2
20200127	-5.3%	-2.1	-6.8	1.2	11.0	25.5	27.8	35.1
20200923	-5.3%	-3.7	9.7	9.9	30.7	34.8	40.5	28.6
20190912	-5.5%	-.1	9.8	36.5	9.9	-10.5	-.8	-6.1
20200416	-5.5%	3.9	13.8	79.6	102.9	126.3	130.8	147.1
20200715	-5.5%	-1.3	6.6	-.6	-1.5	-.0	3.9	-8.8
20181023	-5.6%	-5.4	-.8	18.1	37.1	34.8	18.5	25.6
20181220	-5.6%	-7.6	-8.7	-6.4	.2	11.8	3.3	5.4
20201006	-5.6%	8.0	11.4	16.1	6.3	4.7	7.6	17.2
20180201	-5.7%	-18.9	-12.4	-22.7	-24.5	-23.5	-22.3	-23.4
20200320	-5.7%	6.5	26.2	12.5	7.5	13.9	36.7	40.7
20181219	-5.8%	-5.7	-11.1	-19.9	-8.6	2.9	3.5	-.6
20190111	-5.8%	.0	3.0	-1.2	1.2	.0	-1.0	-.2
20200313	-5.9%	31.1	37.7	64.9	69.9	36.0	41.8	63.2
20201021	-5.9%	.4	11.6	14.8	-16.4	.8	19.6	30.2
20181008	-6%	-.5	-5.7	-6.3	-25.7	-33.0	-29.4	-5.7
20190322	-6%	-.2	25.8	48.3	53.1	53.5	48.3	45.3
20200319	-6%	-5.8	22.9	3.4	-1.2	6.7	18.5	40.4
20180213	-6.1%	4.3	8.9	4.5	6.0	5.5	6.4	11.5
20180402	-6.1%	3.5	-.6	2.5	2.5	9.5	.8	-1.9
20190711	-6.2%	.7	1.2	29.3	26.3	56.1	25.5	13.0
20181127	-6.4%	2.0	2.2	-7.7	-14.9	-7.3	-14.4	-23.9
20180531	-6.6%	-4.9	18.6	43.4	45.2	49.0	58.8	54.6
20190306	-6.6%	-2.1	-.6	5.7	15.2	8.9	37.2	61.7
20201020	-6.6%	-6.0	-.3	9.7	-30.9	-4.0	6.0	20.4
20191107	-6.7%	-2.2	-.3	-3.6	-4.4	3.8	11.1	.7
20191203	-6.7%	5.4	9.6	11.9	18.5	16.8	24.7	8.3
20200310	-6.7%	-3.3	-9.8	-5.3	13.4	16.8	-6.5	-2.5
20180207	-6.8%	-7.3	-17.2	-9.8	-12.8	-10.9	-13.6	-11.6
20181120	-6.8%	1.2	5.3	4.4	-3.9	-9.7	-10.7	-9.9
20200401	-6.8%	.0	8.1	20.0	42.2	42.7	62.0	135.5
20200526	-6.8%	-29.0	-26.7	-38.1	-45.3	-39.4	-28.7	-25.0
20200604	-6.9%	-2.8	-6.1	14.3	19.3	31.9	31.6	43.6
20190924	-7%	-4.0	-23.8	-22.6	-22.6	-20.3	-19.8	-26.6
20191115	-7.1%	8.5	7.6	16.8	25.1	13.3	17.8	20.3
20180208	-7.3%	-9.4	-6.7	-2.7	-6.6	-5.2	-5.7	-4.9
20180524	-7.3%	-1.6	2.3	1.3	16.9	31.5	49.2	47.7
20180926	-7.3%	-2.3	-2.8	-9.3	-16.3	-20.0	-20.8	-40.3
20181210	-7.4%	.4	9.3	1.0	-10.2	-15.4	-10.8	.9
20191001	-7.4%	-.4	10.2	10.3	11.6	2.6	8.2	14.5
20181221	-7.6%	2.0	-3.8	1.3	14.7	21.0	11.9	15.2
20191227	-7.6%	-9.2	-12.7	-8.9	-2.8	5.9	3.6	4.3
20200831	-7.7%	-12.1	-20.7	-16.1	-12.8	-2.8	-19.3	-14.9
20181011	-7.8%	4.2	3.4	-18.0	-26.0	-22.0	4.2	3.0
20191202	-7.8%	-6.7	4.4	5.4	3.0	8.5	16.3	11.4
20191213	-7.8%	7.1	12.7	20.9	15.8	9.8	5.7	8.2
20200102	-8%	-.6	8.4	21.2	21.9	15.4	16.7	6.6
20200224	-8.1%	.2	.9	22.3	5.8	-27.8	2.0	-12.0
20190304	-8.2%	-.5	-8.4	-1.2	4.1	7.9	6.7	34.2
20180420	-8.4%	-1.2	-5.0	-3.3	10.6	11.2	8.3	19.3
20190614	-8.5%	-4.4	38.0	54.2	48.7	47.1	46.0	41.6
20200608	-8.6%	-.4	10.4	29.8	36.5	67.4	56.7	56.1
20190814	-9.2%	-3.3	16.2	19.8	22.7	23.4	20.7	20.7
20191230	-9.2%	4.5	-4.4	4.2	16.5	17.2	11.0	12.2
20200507	-9.2%	4.4	11.8	43.9	44.0	44.5	3.6	-3.9
20200513	-9.2%	-1.3	32.3	38.7	-8.2	-5.2	-20.0	-29.3
20180209	-9.4%	5.2	2.8	4.1	5.8	4.3	7.3	8.9
20180130	-9.7%	-3.0	-14.6	-25.9	-33.8	-27.9	-30.2	-28.7
20181004	-9.7%	5.3	-2.8	-7.1	-8.0	-30.7	-36.0	-27.9
20190926	-9.8%	-10.7	-18.9	-10.3	-10.2	-9.2	-16.5	-11.9
20200603	-10.1%	-7.0	-17.8	-8.8	7.2	12.7	38.2	29.4
20181114	-10.3%	10.1	-1.3	1.8	-.8	-.6	-10.2	-17.2
20190927	-10.7%	-1.4	.1	.1	3.1	3.7	-5.0	-2.0
20201209	-11%
20200723	-11.1%	-1.7	-2.7	-1.2	2.7	-9.8	-11.7	6.2
20201201	-11.2%
20200626	-11.4%	6.3	5.3	12.4	6.1	22.2	31.7	23.6
20171120	-12%	.8	2.4	3.5	2.4	-2.7	-3.6	-6.9
20200728	-12%	-4.4	-2.9	.9	-11.4	-13.3	4.4	-2.4
20200901	-12%	-4.1	-8.9	-9.0	5.6	-4.0	-11.6	.8
20190513	-13.1%	2.9	7.4	10.3	11.2	13.3	21.8	14.1
20200921	-13.2%	1.1	-1.5	5.4	22.8	26.8	31.6	35.5
20200824	-13.4%	-.6	-3.6	-25.1	-28.8	-28.8	-17.4	-25.0
20190801	-14.9%	-2.6	-12.3	-14.0	-24.0	-8.7	-5.9	-3.5
20200330	-16.2%	2.6	-2.0	3.8	24.6	28.3	40.7	70.3
20200811	-16.3%	-4.0	9.3	19.4	9.5	6.2	-17.5	-21.6
20181022	-17.6%	-5.6	-12.9	-1.8	30.7	29.9	24.7	23.6
20180202	-18.8%	15.2	.0	-10.6	-2.7	-5.9	-3.9	-6.7
20201208	-19%
20200309	-19.3%	-6.7	-35.9	-6.0	-11.4	5.0	-6.4	-10.5
20200312	-24.3%	-6.0	37.9	30.0	54.0	37.3	31.2	39.0
20200527	-28.9%	-4.7	4.2	-15.3	-18.2	-.4	3.9	14.9
20201109	-37.3%	13.8	37.2	62.8	77.1	75.2	135.3	223.6

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

Of the 797 trading days from 2017 to 2020, there were 119 days in which ARCT was up more than 5%. This table shows the average price changes over the 119 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 5%	1.9	3.0	5.2	8.2	10.6	14.1	16.3

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

Of the 797 trading days from 2017 to 2020, there were 90 days in which ARCT was down more than -5%. This table shows the average price changes over the 90 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -5%	-.6	2.7	7.2	7.4	9.2	11.0	14.2

28 stocks with statistics: AAPL, AMD, AMZN, APPN, AZN, BA, BAC, BIIB, CRM, CSCO, CX, DIS, FB, GE, GM, GOOG, IBM, INTC, JPM, JPM, MSFT, MU, NFLX, O, QQQ, SPY, T, TSLA,

Also see: VIX price movement study.