Want to invest in TIMETECHNO? Wait as it performed worse than the broader market

TIME TECHNOPLAST LTD. performed worse than the broader market today. It returned -0.99% to close at 100.4. It's recent 5 day performance has been -1.36%, +1.78%, +0.55%, +0.7% and -0.99%.

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TIMETECHNO showed a strong down trend over the last 3 months. During this period TIMETECHNO returned -15.98% and saw a maximum drawdown of -22.05%. There were 5 short signals during this period that returned a cumulative of +3.28% to investors.

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Monthly Performance

Alpha (outperformance)

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Return distribution

TIMETECHNO has been underperforming the NIFTY-50 index in recent time, after having outperformed till 9 Jan, 2018. Over the last 3 years and 1 month, TIMETECHNO outperformed the NIFTY-50 index on 47% days. Which indicates that on days TIMETECHNO outperforms the NIFTY-50 index, it's performance is marginally better than on the days it underperforms the NIFTY-50 index.

During the last three months TIMETECHNO was mostly loss making and delivered on average -0.26% per day. It's best return during this period (of +3.33%) was on Monday, 19 Nov, 2018. While it's worst loss in the same period (of -5.7%) was on Thursday, 15 Nov, 2018. There was initially a bullish trend during this period which started on 30 Oct, 2018 and went on till 9 Nov, 2018. The bullish trend returned +13.53% to investors. This was followed by a bearish trend that started on 27 Nov, 2018 and ended on 4 Dec, 2018. This bearish trend lost -11.27% of investor capital.

On monthly basis, TIMETECHNO delivered losses in more months over the last year, than profits. TIMETECHNO delivered profits less regularly than NIFTY-50 index. TIMETECHNO was also a more risky investment than NIFTY-50 index as it's worst month in the last year, Jun 2018, returned -21.95% compared to -6.42% returned by NIFTY-50 index in Sep 2018. TIMETECHNO 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 -40.04%. It is interesting to note that both TIMETECHNO and NIFTY-50 index significantly outperform during months when quarterly/annual results are announced.

"Everything is always feasible if you run a corporate finance exercise: you can always try to come out with a justification on how things could work. But the real issue is to say how do you translate that into practice.

TIMETECHNO 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 TIMETECHNO's volatility from 23 Oct, 2018 to 15 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 TIMETECHNO has significant negative skewness in it's return distribution. This indicates that TIMETECHNO is very risky for short-term investment and can significantly underperform for long durations.

NIFTY-50 index has more chance of extreme outcomes than TIMETECHNO. Therefore, NIFTY-50 must receive a lower allocation than TIMETECHNO in your portfolio. NIFTY-50 index usually has shorter drawdown period than TIMETECHNO.

On a general note (since you are interested in TIMETECHNO), two large cap instruments that deserve special mention are TORNTPHARM and TCS. They have significantly outperformed the overall market.