60.96 -0.89 (-1.45%) Sell

CNMD investors looking to preserve capital

13 min read

CONMED CORP significantly underperformed on Tuesday. It returned -1.45% to close at 60.96. It is currently trading -25% below it's 52 week high of 81.64.

[Themes containing CNMD]

CNMD is currently in a down trend. The current bearish signal has generated a profit of +21.76% for investors in the last three months.


CNMD has been underperforming the SP500 index in recent time, after having outperformed till 6 Sep, 2018. Over the last 2 years 11 months and 14 days, CNMD outperformed the SP500 index on 52% days.

CNMD returned losses on 66% days in the last three months. During this time, it delivered on average -0.39% per day. It delivered it's worst daily return of -5.33%, during this period, on Friday, 14 Dec, 2018. There was initially a bearish trend during this period which started on 27 Sep, 2018 and went on till 11 Oct, 2018. The trend delivered -12.09% losses to investors. This was followed by a bullish trend that started on 5 Nov, 2018 and ended on 8 Nov, 2018. This bullish trend delivered +3.26% to investors.

On monthly basis, CNMD delivered profits in more months over the last year, than losses. CNMD delivered profits less regularly than SP500 index. CNMD was also a more risky investment than SP500 index as it's worst month in the last year, Oct 2018, returned -14.71% compared to -7.75% returned by SP500 index in Dec 2018. CNMD and SP500 index, both had periods of 6 consecutive profitable months.

Success usually comes to those who are too busy to be looking for it.
-- Henry David Thoreau

CNMD is becoming more volatile overall. In comparison, the SP500 index is seeing a rise in volatility. During the last three months, there was a significant surge in CNMD's volatility from 3 Oct, 2018 to 2 Nov, 2018. While there was a significant surge in the SP500 index's volatility from 19 Sep, 2018 to 29 Oct, 2018.

Advanced/professional short-term investors should note that CNMD has significant positive skewness in it's return distribution. This indicates that investors can expect CNMD to recover from drawdowns quickly. Which makes CNMD a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.

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

On a general note (since you are interested in CNMD), BURL is a small cap that deserves to be closely tracked for investment opportunities.

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