CEVA INC was among the worst performers on Tuesday. It returned -0.47% to close at 23.3. On a day when the overall market breadth was 35%, it closed higher than 75% of the market. In comparison, the benchmark SP500 index closed today at -0.0004%.
CEVA showed a strong down trend over the last 3 months. During this period CEVA returned -18.67% and saw a maximum drawdown of -20.61%. There were 2 short signals during this period that returned a cumulative of +10.26% to investors.
CEVA returned losses on 55% days in the last three months. During this time, it delivered on average -0.27% per day. It delivered it's best daily return of +15.19%, during this period, on Thursday, 8 Nov, 2018. There was initially a bearish trend during this period which started on 2 Oct, 2018 and went on till 8 Oct, 2018. The trend delivered -13.75% losses to investors. This was followed by a bullish trend that started on 30 Oct, 2018 and ended on 2 Nov, 2018. This bullish trend delivered +12.28% to investors.
On monthly basis, CEVA delivered losses in more months over the last year, than profits. CEVA delivered profits less regularly than SP500 index. CEVA was also a more risky investment than SP500 index as it's worst month in the last year, Feb 2018, returned -16.48% compared to -7.28% returned by SP500 index in Oct 2018. CEVA had a longer winning streak of losing months than SP500 index. It went down in 4 straight months (from Jan 2018 to Apr 2018) during which period it delivered -32.44%.
A wise person should have money in their head, but not in their heart.
-- Jonathan Swift
CEVA 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 CEVA's volatility from 2 Oct, 2018 to 9 Nov, 2018. While there was a significant surge in the SP500 index's volatility from 13 Sep, 2018 to 29 Oct, 2018.
Advanced/professional short-term investors should note that CEVA has significant positive skewness in it's return distribution. This indicates that investors can expect CEVA to recover from drawdowns quickly. Which makes CEVA a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.
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