COROMANDEL trailed the broader market today. On a longer term basis, investors in COROMANDEL INTERNTL. LTD made +0.09% per day. Friday's performance of -0.35% was a significant underperformance compared to it's daily average.
Buy-and-Hold investors in COROMANDEL experienced a maximum drawdown of -7.37% over the last three months. It gained +17.0% during this strong up trending period. There were both Long and Short signals during this period, while the long signals were significantly more profitable than the short signals. The net profit from Long signals was +7.24%.
COROMANDEL has been outperforming the NIFTY-50 index in recent time. Over the last 3 years and 1 month, COROMANDEL outperformed the NIFTY-50 index on 50% days. Which indicates that on days COROMANDEL outperforms the NIFTY-50 index, it's performance is marginally better than on the days it underperforms the NIFTY-50 index.
COROMANDEL was profitable on 57% days in the last three months. During this time, it delivered on average +0.26% per day. It delivered it's best daily return of +4.44%, during this period, on Tuesday, 30 Oct, 2018. There was initially a bearish trend during this period which started on 4 Dec, 2018 and went on till 6 Dec, 2018. The trend delivered -2.14% losses to investors. This was followed by a bullish trend that started on 11 Dec, 2018 and ended on 19 Dec, 2018. This bullish trend delivered +9.81% to investors.
COROMANDEL had 5 profitable and 7 loss making months over the last year. During the last year, number of profitable months of COROMANDEL and NIFTY-50 index were the same. COROMANDEL was also a more risky investment than NIFTY-50 index as it's worst month in the last year, Jun 2018, returned -12.82% compared to -6.42% returned by NIFTY-50 index in Sep 2018. COROMANDEL had a longer winning streak of losing months than NIFTY-50 index. It went down in 4 straight months (from Mar 2018 to Jun 2018) during which period it delivered -34.7%. It is interesting to note that both COROMANDEL and NIFTY-50 index significantly outperform during months when quarterly/annual results are announced.
Don't always trust what you see. In a bull market even a duck looks like a swan.
-- Vijay Kedia
COROMANDEL is becoming less volatile overall. In comparison, the NIFTY-50 index is seeing a fall in volatility. During the last three months, there was a significant fall in COROMANDEL's volatility from 26 Oct, 2018 to 3 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 COROMANDEL has negative skewness in it's return distribution. This indicates that investors may need to stay invested through long periods of drawdown before expecting a recovery.
COROMANDEL has more chance of extreme outcomes than the NIFTY-50 index. Therefore, COROMANDEL must receive a lower allocation than NIFTY-50 in your portfolio. NIFTY-50 index usually has shorter drawdown period than COROMANDEL.
On a general note (since you are interested in COROMANDEL), three large cap instruments that deserve special mention are TCS, BAJFINANCE and TORNTPHARM. They have all outperformed the market and must be closely watched for investment opportunities.
... we have a small favour to ask. Help us bring the power of algorithmic trading strategies to individual investors.
All content in this article was automatically generated by algorithms. This ensures that there are no human biases in the analysis provided. This approach to investing is not new and has been around for more than three decades. Yet, it has been available to only the most affluent or elite investors leaving individual investors to trade on emotions (such as fear and greed), intuition and poor analysis from third-parties. We want to change this.
We want to empower investors with all the tools and analysis required by them to make a rational investment decision.If you found Spotalpha useful, consider making a contribution. For as little as $5 you can support our efforts and it takes less than a minute. Thank you. Contribute