> For the complete documentation index, see [llms.txt](https://statalpha.gitbook.io/statalpha-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://statalpha.gitbook.io/statalpha-docs/stats/owc.md).

# OWC

The **Opening Week Continuation (OWC)** module compares the early part of each trading week (e.g., Monday + X days) with the entire week.\
It helps identify whether early-week performance tends to **continue**, **reverse**, or **lose strength** by the end of the week.

***

## Concept

* The opening week period (`OWP`) represents the first *N* trading days of the week (default: Monday only).
* The module measures how this early phase aligns with the full week’s behavior.
* Key calculated aspects include:
  * **Directional consistency** (same or opposite direction between early and full week)
  * **Strength ratio** (`owp_return / week_return`)
  * **Range and volatility share** (portion of the week’s range covered early)
  * **Volume distribution** (share of weekly volume traded early)
  * **Correlation proxy** (`owp_return * week_return`)

These metrics reveal how much of a week’s performance is typically established early and whether early-week momentum sustains or fades.

***

## Parameters

| Parameter                 | Type   | Description                                                                |
| ------------------------- | ------ | -------------------------------------------------------------------------- |
| `symbol`                  | string | Target symbol (e.g. `AAPL`, `BTCUSD`)                                      |
| `start_date` / `end_date` | string | Custom analysis period (`YYYY-MM-DD`)                                      |
| `time_window`             | string | Predefined period (e.g. `3M`, `6M`, `12M`, `24M`, `5Y`)                    |
| `start_time` / `end_time` | string | UTC intraday session (default `13:30`–`20:00`)                             |
| `days`                    | int    | Number of trading days considered as the opening period (1–7, default `1`) |
| `include_extended_hours`  | bool   | Include pre-/post-market data                                              |
| `sort_by`                 | string | Metric used for ranking in `/top` (default `week_return`)                  |
| `limit`                   | int    | Number of top results to return (default `20`)                             |
| `desc`                    | bool   | Sort descending if `true`                                                  |

***

## Endpoints

| Endpoint                 | Description                                                          |
| ------------------------ | -------------------------------------------------------------------- |
| `GET /stats/owc`         | Returns week-by-week data including early-week and full-week metrics |
| `GET /stats/owc/summary` | Aggregated averages across all analyzed weeks                        |
| `GET /stats/owc/top`     | Top N weeks ranked by a chosen metric (e.g., `week_return`)          |
| `GET /stats/owc/doc`     | Returns field documentation for all OWC endpoints                    |

***

## Example Requests

### 1. Get raw weekly OWC data

```bash
curl -s -H "Authorization: Bearer $ACCESS_TOKEN" \
  "https://api.statalpha.market/stats/owc?symbol=AAPL&time_window=12M&days=2"
```

### 2. Retrieve summary statistics

```bash
curl -s -H "Authorization: Bearer $ACCESS_TOKEN" \
  "https://api.statalpha.market/stats/owc/summary?symbol=AAPL&time_window=12M&days=3"
```

### 3. Get top-performing weeks by return

```bash
curl -s -H "Authorization: Bearer $ACCESS_TOKEN" \
  "https://api.statalpha.market/stats/owc/top?symbol=AAPL&time_window=12M&sort_by=week_return&limit=10"
```

***

## Example Response (summary excerpt)

```json
{
  "summary": {
    "total_weeks": 52,
    "green_weeks": 31,
    "green_weeks_pct": 59.6,
    "owp_green_pct": 62.3,
    "owp_same_direction_pct": 68.2,
    "owp_avg_strength_ratio": 0.74,
    "owp_avg_range_pct": 41.8,
    "owp_avg_volume_share": 39.2,
    "owp_avg_return_corr": 0.68
  },
  "time_window": "12M"
}
```

***

## Interpretation

| Metric                        | Meaning                                                                                      |
| ----------------------------- | -------------------------------------------------------------------------------------------- |
| **green\_weeks\_pct**         | Percentage of weeks where the overall close was higher than open                             |
| **owp\_green\_pct**           | % of weeks where the early-week period (OWP) closed higher than open                         |
| **owp\_same\_direction\_pct** | How often the early-week direction matched the full week’s direction                         |
| **owp\_avg\_strength\_ratio** | Ratio of early-week return vs. full-week return — values near 1 indicate strong continuation |
| **owp\_avg\_range\_pct**      | Average share of the week’s price range covered during the OWP                               |
| **owp\_avg\_volume\_share**   | Portion of total weekly volume traded during the early period                                |
| **owp\_avg\_return\_corr**    | Correlation proxy between early and full week returns (positive = continuation)              |

***

## Notes

* OWC analysis provides insight into **weekly market rhythm** and **momentum persistence**.
* Higher same-direction and correlation values suggest trend continuation from early-week activity.
* All metrics are accessible across all plans; plan differences affect only query flexibility.
* Cached responses improve response times for repeated queries.


---

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