MAN INDUSTRIES (I) LTD. is a falling knife that can bleed you if you catch it on Tuesday. It lost -3.86% to close at 64.7. On a day when the overall market breadth was 70%, it closed higher than 50% of the market. In comparison, the benchmark NIFTY-50 index closed today at -0.0036%.
MANINDS showed a strong down trend over the last 3 months. During this period MANINDS lost -18.0% and saw a maximum drawdown of -20.76%. There was a short signal during this period which returned +18.0%.
MANINDS has been underperforming the NIFTY-50 index in recent time, after having outperformed till 15 Jan, 2018. Over the last 3 years and 1 month, MANINDS underperformed the NIFTY-50 index on 55% days.
MANINDS returned losses on 61% days in the last three months. During this time, it delivered on average -0.3% per day. It delivered it's best daily return of +4.62%, during this period, on Tuesday, 18 Dec, 2018. There was initially a bullish trend during this period which started on 25 Oct, 2018 and went on till 29 Oct, 2018. The bullish trend returned +7.08% to investors. This was followed by a bearish trend that started on 4 Dec, 2018 and ended on 11 Dec, 2018. This bearish trend lost -8.5% of investor capital.
MANINDS had 4 profitable and 8 loss making months over the last year. During the last year, MANINDS underperformed NIFTY-50 index on monthly return basis. MANINDS was also a more risky investment than NIFTY-50 index as it's worst month in the last year, Sep 2018, returned -27.73% compared to -6.42% returned by NIFTY-50 index in Sep 2018. MANINDS had a longer winning streak of losing months than NIFTY-50 index. It went down in 3 straight months (from Nov 2018 to Jan 2019) during which period it delivered -20.59%. It is interesting to note that both MANINDS and NIFTY-50 index significantly outperform during months when quarterly/annual results are announced.
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MANINDS is becoming more 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 MANINDS's volatility from 23 Oct, 2018 to 9 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 MANINDS has significant negative skewness in it's return distribution. This indicates that MANINDS is very risky for short-term investment and can significantly underperform for long durations.
NIFTY-50 index has more chance of extreme outcomes than MANINDS. Therefore, NIFTY-50 must receive a lower allocation than MANINDS in your portfolio. NIFTY-50 index usually has shorter drawdown period than MANINDS.
Based on your interest in MANINDS you may find it interesting to know that NIFTY50-DIV-POINT, IEX and TIDEWATER are all extremely risky investment candidates that must be evaluated carefully. Investors with low risk profile are better off avoiding them till their performance becomes more consistent.
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