40.67 +0.27 (+0.67%) Sell

ATH investors hold onto their investments as it marginally outperforms

13 min read

ATHENE HOLDING LTD outperformed the broader market on Thursday. It increased by +0.67% to close at 40.67. On a day when the overall market breadth was 35%, it closed higher than 13% of the market. In comparison, the benchmark SP500 index closed today at -0.0002%.

[Themes containing ATH]

ATH is currently in a bearish trend. The current bearish signal has generated a profit of +15.95% for investors in the last three months.


ATH has been underperforming the SP500 index in recent time. It showed significant underperformance (compared to the SP500 index) from 19 Apr, 2017 to 6 Dec, 2018. Over the last 2 years and 4 days, ATH underperformed the SP500 index on 51% days.

During the last three months ATH was mostly loss making and delivered on average -0.36% per day. It's best return during this period (of +3.18%) was on Thursday, 20 Sep, 2018. While it's worst loss in the same period (of -5.66%) was on Tuesday, 4 Dec, 2018. The longest stort-term trends during this period were 5 profitable and losing days. The bullish trend (which returned +4.31%) started on 17 Sep, 2018 and went on till 21 Sep, 2018 while the bearish trend (which returned -8.07%) started on 14 Nov, 2018 and went on till 20 Nov, 2018.

During the last year ATH had 5 profitable months and 7 loss making months. ATH returned profits in fewer months than SP500 index. ATH was also a more risky investment than SP500 index as it's worst month in the last year, Oct 2018, returned -11.17% compared to -7.28% returned by SP500 index in Oct 2018. ATH had a shorter streak of profitable months than SP500 index. It only went up in 3 straight months during the last year. It is interesting to note that both ATH and SP500 index significantly outperform during months when quarterly/annual results are announced.

"Financial crises are like fireworks: they illuminate the sky even as they go pop.

ATH is currently seeing overall increase in volatility. In comparison, the SP500 index is seeing increase in volatility. During the last three months, there was a significant surge in ATH's volatility from 17 Sep, 2018 to 2 Nov, 2018. While there was a significant surge in the SP500 index's volatility from 25 Sep, 2018 to 29 Oct, 2018.

Advanced/professional short-term investors should note that ATH 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.

ATH has more chance of extreme outcomes than the SP500 index. Therefore, ATH must receive a lower allocation than SP500 in your portfolio. SP500 index usually has shorter drawdown period than ATH.

On a general note (since you are interested in ATH), three large cap instruments that deserve special mention are AMZN, MSFT and PFE. They have all outperformed the market and must be closely watched for investment opportunities.

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