BDX delivered good returns today. On a longer term basis, investors in BECTON DICKINSON & CO made -0.07% per day. Thursday's performance of +0.56% was a significant outperformance compared to it's daily average.
Buy-and-Hold investors in BDX experienced a maximum drawdown of -14.0% over the last three months. It returned -9.11% during this down trending period. There were both Long and Short signals during this period, where the short signals were significantly more profitable than the long signals.
During the last three months BDX was mostly loss making and delivered on average -0.14% per day. It's best return during this period (of +3.22%) was on Thursday, 8 Nov, 2018. While it's worst loss in the same period (of -3.09%) was on Wednesday, 10 Oct, 2018. There was initially a bearish trend during this period which started on 18 Oct, 2018 and went on till 24 Oct, 2018. The trend delivered -7.4% losses to investors. This was followed by a bullish trend that started on 26 Nov, 2018 and ended on 30 Nov, 2018. This bullish trend delivered +4.37% to investors.
On monthly basis, BDX delivered profits and losses in equal number of months. BDX delivered profits less regularly than SP500 index. BDX was also a more risky investment than SP500 index as it's worst month in the last year, Oct 2018, returned -12.81% compared to -7.28% returned by SP500 index in Oct 2018. BDX 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 BDX and SP500 index significantly outperform during months when quarterly/annual results are announced.
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BDX is becoming less volatile overall. In comparison, the SP500 index is seeing a rise in volatility. During the last three months, there was a significant surge in BDX's volatility from 14 Sep, 2018 to 8 Nov, 2018. While there was a significant surge in the SP500 index's volatility from 14 Sep, 2018 to 29 Oct, 2018.
Advanced/professional short-term investors should note that BDX 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.
Investors trading in BDX derivatives at this moment can consider 'Covered Call' options strategy to receive better risk-adjusted returns.
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