Textile ranked worse than it's peers on Friday. It fell by -0.98% to close at 867.135. On a day when the overall market breadth was 71%, it closed higher than 17% of the market. In comparison, the benchmark NIFTY-50 index closed today at +0.02%.
~TEXTILE showed a strong bullish trend over the last 3 months. During this period ~TEXTILE increased by +13.6% and saw a maximum drawdown of -12.01%. There were 2 long signals during this period that returned a cumulative of +6.53% to investors.
~TEXTILE has been outperforming the NIFTY-50 index in recent time. It showed significant underperformance (compared to the NIFTY-50 index) from 17 May, 2018 to 11 Dec, 2018. Over the last 8 months and 2 days, ~TEXTILE underperformed the NIFTY-50 index on 50% days. Which indicates that on days ~TEXTILE underperforms the NIFTY-50 index, it's performance is marginally worse than on the days it outperforms the NIFTY-50 index.
During the last three months ~TEXTILE was mostly profitable and delivered on average +0.21% per day. It's best return during this period (of +3.59%) was on Monday, 24 Dec, 2018. While it's worst loss in the same period (of -2.69%) was on Friday, 7 Dec, 2018. The longest stort-term trend during this period was 8 losing days, which started on 20 Nov, 2018 and ended on 30 Nov, 2018. This bearish trend lost -4.21% of investor capital.
During the last year ~TEXTILE had 5 profitable months and 7 loss making months. ~TEXTILE returned profits in more months than NIFTY-50 index. ~TEXTILE was also a more risky investment than NIFTY-50 index as it's worst month in the last year, Sep 2018, returned -16.54% compared to -6.42% returned by NIFTY-50 index in Sep 2018. ~TEXTILE and NIFTY-50 index, both had periods of 3 consecutive profitable months. It is interesting to note that both ~TEXTILE and NIFTY-50 index significantly outperform during months when quarterly/annual results are announced.
As long as you're going to be thinking anyway, think big.
-- Donald Trump
~TEXTILE is currently seeing overall fall in volatility. In comparison, the NIFTY-50 index is seeing decrease in volatility. During the last three months, there was a significant surge in ~TEXTILE's volatility from 3 Dec, 2018 to 17 Dec, 2018. 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 ~TEXTILE has significant negative skewness in it's return distribution. This indicates that ~TEXTILE is very risky for short-term investment and can significantly underperform for long durations.
~TEXTILE has more chance of extreme outcomes than the NIFTY-50 index. Therefore, ~TEXTILE must receive a lower allocation than NIFTY-50 in your portfolio. NIFTY-50 index usually has shorter drawdown period than ~TEXTILE.
Based on your interest in ~TEXTILE you may find it interesting to know that TORNTPHARM, BRITANNIA and INFY are large caps that have all shown remarkable performance and qualify to be on every investor's watchlist.
... 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