JAYNECOIND investors considering profit booking at current levels
23 Jan, 201916 min read
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JAYASWAL NECO INDUSTR LTD managed to marginally outperform the broader market today. It returned 0.0% to close at 5.15. During the last week it returned -9.65% and saw a maximum drawdown of -9.65%.
[Themes containing JAYNECOIND]
JAYNECOIND is currently in a down trend. Over the last three months Buy-and-Hold has been a better strategy (returning +8.42%) for JAYNECOIND's investors than shorting it.
JAYNECOIND has been underperforming the NIFTY-50 index in recent time, after having outperformed till 5 Jan, 2016. Over the last 3 years and 1 month, JAYNECOIND underperformed the NIFTY-50 index on 55% days.
JAYNECOIND returned losses on 61% days in the last three months. During this time, it delivered on average +0.2% per day. It delivered it's best daily return of +16.5%, during this period, on Friday, 7 Dec, 2018. There was initially a bullish trend during this period which started on 16 Nov, 2018 and went on till 21 Nov, 2018. The bullish trend returned +3.03% to investors. This was followed by a bearish trend that started on 14 Jan, 2019 and ended on 16 Jan, 2019. This bearish trend lost -7.74% of investor capital.
On monthly basis, JAYNECOIND delivered losses in more months over the last year, than profits. JAYNECOIND delivered profits less regularly than NIFTY-50 index. JAYNECOIND was also a more risky investment than NIFTY-50 index as it's worst month in the last year, Mar 2018, returned -26.6% compared to -6.42% returned by NIFTY-50 index in Sep 2018. JAYNECOIND had a longer winning streak of losing months than NIFTY-50 index. It went down in 5 straight months (from Mar 2018 to Jul 2018) during which period it delivered -55.36%.
It's pointless to set goals if you are not going to try to hit them.
-- Don Connelly
JAYNECOIND 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 JAYNECOIND's volatility from 5 Nov, 2018 to 14 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 JAYNECOIND 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.
JAYNECOIND has more chance of extreme outcomes than the NIFTY-50 index. Therefore, JAYNECOIND must receive a lower allocation than NIFTY-50 in your portfolio. NIFTY-50 index usually has shorter drawdown period than JAYNECOIND.
On a general note (since you are interested in JAYNECOIND), three instruments that have performed similar to JAYNECOIND are AVADHSUGAR, TMRVL and ARVIND. They must all be evaluated as alternative investment options and for diversification.
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