CARRIAGE SERVICES INC has destroyed investor wealth on Friday. It delivered -1.9% to close at 15.47. It is currently trading -45% below it's 52 week high of 28.58.
Buy-and-Hold investors in CSV experienced a maximum drawdown of -33.32% over the last three months. It delivered -30.19% during this strong bearish trending period. There were no long signals during this period, where the short signal generated good profits of +30.19% for investors.
CSV has been outperforming the SP500 index in recent time. It showed significant underperformance (compared to the SP500 index) from 8 Dec, 2016 to 1 Nov, 2018. Over the last 2 years 11 months and 10 days, CSV underperformed the SP500 index on 51% days.
During the last three months CSV was mostly loss making and delivered on average -0.51% per day. It's best return during this period (of +4.94%) was on Thursday, 8 Nov, 2018. While it's worst loss in the same period (of -21.46%) was on Thursday, 1 Nov, 2018. The longest stort-term trends during this period were 6 profitable and losing days. The bullish trend (which returned +14.11%) started on 2 Nov, 2018 and went on till 9 Nov, 2018 while the bearish trend (which returned -7.53%) started on 17 Oct, 2018 and went on till 24 Oct, 2018.
The last 12 months saw CSV's investors making profits in 4 months and incurring losses in 8 months. CSV was less consistent in delivering monthly returs than SP500 index. CSV was also a more risky investment than SP500 index as it's worst month in the last year, Oct 2018, returned -12.21% compared to -7.28% returned by SP500 index in Oct 2018. CSV 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 -46.26%. It is interesting to note that both CSV and SP500 index significantly outperform during months when quarterly/annual results are announced.
Money is not the only answer, but it makes a difference.
-- Barack Obama
CSV is currently seeing overall fall in volatility. In comparison, the SP500 index is seeing increase in volatility. During the last three months, there was a significant surge in CSV's volatility from 21 Sep, 2018 to 5 Nov, 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 CSV has significant positive skewness in it's return distribution. This indicates that investors can expect CSV to recover from drawdowns quickly. Which makes CSV a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.
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