UDR

Underperforming without a clear catalyst yet

• UDR −1.22% on the last session vs SPY +0.74%: −2.0 pts of stock-specific move.
• Aftermath, rsi oversold (Sep 30): After its 15 oversold readings in the past 5 years, UDR typically gained 2.0% over the next week (median) and was higher 53% of the time; half the outcomes fell between -2.0% and +5.3%. An ordinary week: +0.1%. Among S&P 500 stocks after oversold readings, that ranks #112 of 496.
• Market backdrop (Fri): Average Hourly Earnings m/m 0.1% vs 0.3% expected (cooler); Non-Farm Employment Change 29K vs 89K expected (weaker); S&P futures +0.41%, 10-year yield -5bp in the 30 minutes after.