ASAHI SONGWON COLOR LTD underperformed broader market on Tuesday. It fell by -1.24% to close at 210.55. It is currently trading -44% below it's 52 week high of 377.2.
ASAHISONG is currently in a bearish trend. Over the last three months trading short signals has not been a profitable strategy for ASAHISONG's investors in general. However, this strategy had significantly lower risk when compared to Buy-and-Hold investing (which returned -13.43%). It is therefore better to tread with caution in the current downtrend by limiting your allocation to ASAHISONG.
ASAHISONG has been underperforming the NIFTY-50 index in recent time. It showed significant outperformance (compared to the NIFTY-50 index) from 9 Mar, 2016 to 10 Jan, 2018. Over the last 3 years and 1 month, ASAHISONG underperformed the NIFTY-50 index on 53% days.
ASAHISONG returned losses on 58% days in the last three months. During this time, it delivered on average -0.21% per day. It delivered it's worst daily return of -7.62%, during this period, on Thursday, 15 Nov, 2018. The longest stort-term trend during this period was 5 losing days, which started on 16 Jan, 2019 and ended on 22 Jan, 2019. This bearish trend lost -2.18% of investor capital.
During the last year ASAHISONG had 3 profitable months and 9 loss making months. ASAHISONG returned profits in fewer months than NIFTY-50 index. ASAHISONG was also a more risky investment than NIFTY-50 index as it's worst month in the last year, May 2018, returned -17.73% compared to -6.42% returned by NIFTY-50 index in Sep 2018. ASAHISONG 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 -20.76%. It is interesting to note that both ASAHISONG and NIFTY-50 index significantly outperform during months when quarterly/annual results are announced.
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ASAHISONG 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 ASAHISONG's volatility from 5 Nov, 2018 to 21 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 ASAHISONG has significant negative skewness in it's return distribution. This indicates that ASAHISONG is very risky for short-term investment and can significantly underperform for long durations.
NIFTY-50 index has more chance of extreme outcomes than ASAHISONG. Therefore, NIFTY-50 must receive a lower allocation than ASAHISONG in your portfolio. NIFTY-50 index usually has shorter drawdown period than ASAHISONG.
On a general note (since you are interested in ASAHISONG), three instruments that have performed similar to ASAHISONG are NBCC, HITECHGEAR and ECEIND. They must all be evaluated as alternative investment options and for diversification.
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