Search for alternative investments is on for MIRZAINT investors as it underperforms broader market
23 Jan, 201913 min read
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MIRZA INTERNATIONAL LIMIT underperformed today. It returned -0.07% to close at 76.4. During the last week it returned -3.78% and saw a maximum drawdown of -3.78%.
MIRZAINT is currently in a down trend. Over the last three months Buy-and-Hold has been a better strategy (returning +1.53%) for MIRZAINT's investors than shorting it.
MIRZAINT has been underperforming the NIFTY-50 index in recent time, after having outperformed till 11 Sep, 2017. Over the last 3 years and 1 month, MIRZAINT underperformed the NIFTY-50 index on 57% days.
MIRZAINT returned losses on 54% days in the last three months. During this time, it delivered on average +0.05% per day. It delivered it's best daily return of +6.45%, during this period, on Wednesday, 12 Dec, 2018. There was initially a bullish trend during this period which started on 26 Oct, 2018 and went on till 2 Nov, 2018. The bullish trend returned +14.87% to investors. This was followed by a bearish trend that started on 13 Nov, 2018 and ended on 16 Nov, 2018. This bearish trend lost -8.59% of investor capital.
On monthly basis, MIRZAINT delivered losses in more months over the last year, than profits. MIRZAINT delivered profits less regularly than NIFTY-50 index. MIRZAINT was also a more risky investment than NIFTY-50 index as it's worst month in the last year, Jun 2018, returned -18.21% compared to -6.42% returned by NIFTY-50 index in Sep 2018. MIRZAINT had a longer winning streak of losing months than NIFTY-50 index. It went down in 4 straight months (from Aug 2018 to Nov 2018) during which period it delivered -18.77%. It is interesting to note that both MIRZAINT and NIFTY-50 index significantly outperform during months when quarterly/annual results are announced.
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MIRZAINT 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 MIRZAINT's volatility from 2 Nov, 2018 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 MIRZAINT has significant negative skewness in it's return distribution. This indicates that MIRZAINT is very risky for short-term investment and can significantly underperform for long durations.
NIFTY-50 index has more chance of extreme outcomes than MIRZAINT. Therefore, NIFTY-50 must receive a lower allocation than MIRZAINT in your portfolio. NIFTY-50 index usually has shorter drawdown period than MIRZAINT.
On a general note (since you are interested in MIRZAINT), two instruments that deserve special mention are CUB and NIITTECH. They have significantly outperformed the overall market this year.
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