CONMED CORP

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.

Trend

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.

Want to improve your Portfolio's performance?

Spotalpha's Portfolio optimizer is all you need to improve your returns and reduce your risk.
Optimize Portfolio NOW
Following
Symbol Price {{retType}} | Tr.
{{detail.symbol}} {{detail.close}} {{detail.priceChange}}  {{detail.pctChange}}%  {{detail.name}} {{detail.trend}} 
 
If you liked what you read here ...

... we have a small favour to ask. Help us bring the power of algorithmic trading strategies to individual investors.

All content in this article was automatically generated by algorithms. This ensures that there are no human biases in the analysis provided. This approach to investing is not new and has been around for more than three decades. Yet, it has been available to only the most affluent or elite investors leaving individual investors to trade on emotions (such as fear and greed), intuition and poor analysis from third-parties. We want to change this.

We want to empower investors with all the tools and analysis required by them to make a rational investment decision.

If you found Spotalpha useful, consider making a contribution. For as little as $5 you can support our efforts and it takes less than a minute. Thank you. Contribute
Share with friends   WhatsApp   Facebook   Twitter