22.14 -0.21 (-0.94%) Sell

The party never started for CINR investors as it destroyed investor wealth

13 min read

CINER RESOURCES LP significantly underperformed on Friday. It returned -0.94% to close at 22.14. On a day when the overall market breadth was 35%, it closed higher than 14% of the market. In comparison, the benchmark SP500 index closed today at -0.0191%.

CINR is currently in a down trend. The current bearish signal has generated a profit of +15.01% for investors in the last three months.


CINR has been underperforming the SP500 index in recent time, after having outperformed till 21 Jul, 2016. Over the last 2 years 11 months and 10 days, CINR underperformed the SP500 index on 49% days. Which indicates that on days CINR underperforms the SP500 index, it's performance is marginally worse than on the days it outperforms the SP500 index.

During the last three months CINR was mostly loss making and delivered on average -0.31% per day. It's best return during this period (of +2.52%) was on Monday, 1 Oct, 2018. While it's worst loss in the same period (of -3.37%) was on Tuesday, 6 Nov, 2018. There was initially a bullish trend during this period which started on 17 Sep, 2018 and went on till 20 Sep, 2018. The bullish trend returned +1.43% to investors. This was followed by a bearish trend that started on 6 Nov, 2018 and ended on 13 Nov, 2018. This bearish trend lost -6.18% of investor capital.

On monthly basis, CINR delivered losses in more months over the last year, than profits. CINR delivered profits less regularly than SP500 index. CINR was also a more risky investment than SP500 index as it's worst month in the last year, Oct 2018, returned -8.67% compared to -7.28% returned by SP500 index in Oct 2018. CINR had a longer winning streak of losing months than SP500 index. It went down in 5 straight months (from Aug 2018 to Dec 2018) during which period it delivered -24.4%. It is interesting to note that both CINR and SP500 index significantly outperform during months when quarterly/annual results are announced.

In order to succeed, your desire for success should be greater than your fear of failure.
-- Bill Cosby

CINR 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 fall in CINR's volatility from 17 Sep, 2018 to 27 Sep, 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 CINR has significant positive skewness in it's return distribution. This indicates that investors can expect CINR to recover from drawdowns quickly. Which makes CINR a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.

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

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

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