255.0 -0.4 (-0.16%) Buy

ASAHIINDIA investors not showing any loss of confidence as it pauses to catch its breath

14 min read

ASAHI INDIA GLASS LIMITED trailed the broader market on Friday. It delivered -0.16% to close at 255.0. On a day when the overall market breadth was 71%, it closed higher than 73% of the market. In comparison, the benchmark NIFTY-50 index closed today at +0.02%.

[Themes containing ASAHIINDIA]

Buy-and-Hold investors in ASAHIINDIA experienced a maximum drawdown of -17.54% over the last three months. It delivered -12.82% during this strong bearish trending period. There were both Long and Short signals during this period, where the short signals were significantly more profitable than the long signals. The net profit from Short signals was +9.18%.


ASAHIINDIA has been underperforming the NIFTY-50 index in recent time. It showed significant outperformance (compared to the NIFTY-50 index) from 3 Jun, 2016 to 13 Sep, 2017. Over the last 3 years and 1 month, ASAHIINDIA outperformed the NIFTY-50 index on 47% days. Which indicates that on days ASAHIINDIA outperforms the NIFTY-50 index, it's performance is marginally better than on the days it underperforms the NIFTY-50 index.

During the last three months ASAHIINDIA was mostly loss making and delivered on average -0.2% per day. It's best return during this period (of +4.66%) was on Friday, 2 Nov, 2018. While it's worst loss in the same period (of -3.4%) was on Monday, 22 Oct, 2018. The longest stort-term trend during this period was 7 losing days, which started on 12 Nov, 2018 and ended on 20 Nov, 2018. This bearish trend lost -8.57% of investor capital.

The last 12 months saw ASAHIINDIA's investors making profits in 4 months and incurring losses in 8 months. ASAHIINDIA was less consistent in delivering monthly returs than NIFTY-50 index. ASAHIINDIA was also a more risky investment than NIFTY-50 index as it's worst month in the last year, Oct 2018, returned -11.43% compared to -6.42% returned by NIFTY-50 index in Sep 2018. ASAHIINDIA had a longer winning streak of losing months than NIFTY-50 index. It went down in 5 straight months (from Sep 2018 to Jan 2019) during which period it delivered -27.42%. It is interesting to note that both ASAHIINDIA and NIFTY-50 index significantly outperform during months when quarterly/annual results are announced.

Happiness lies in the joy of achievement and the thrill of creative effort.
-- Franklin D. Roosevelt

ASAHIINDIA is currently seeing overall fall in volatility. In comparison, the NIFTY-50 index is seeing decrease in volatility. During the last three months, there was a significant fall in ASAHIINDIA's volatility from 2 Jan, 2019 to 18 Jan, 2019. While there was a significant fall in the NIFTY-50 index's volatility from 31 Oct, 2018 to 5 Dec, 2018.

Advanced/professional short-term investors should note that ASAHIINDIA has significant negative skewness in it's return distribution. This indicates that ASAHIINDIA is very risky for short-term investment and can significantly underperform for long durations.

ASAHIINDIA has more chance of extreme outcomes than the NIFTY-50 index. Therefore, ASAHIINDIA must receive a lower allocation than NIFTY-50 in your portfolio. NIFTY-50 index usually has shorter drawdown period than ASAHIINDIA.

Based on your interest in ASAHIINDIA you may find it interesting to know that NIFTY50-DIV-POINT and SRIPIPES are highly volatile and therefore risky. Investors should consider limiting their exposure to these instruments (because of their volatile nature).

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