CALIFORNIA WATER SERVICE GROUP outperformed the broader market on Friday. It increased by +1.37% to close at 45.91. On a day when the overall market breadth was 35%, it closed higher than 9% of the market. In comparison, the benchmark SP500 index closed today at -0.0233%.
CWT is currently in a bullish trend. The current bullish signal has generated a profit of +10.23% for CWT's investors in the last three months.
CWT has been outperforming the SP500 index in recent time. It showed significant outperformance (compared to the SP500 index) from 4 Jan, 2016 to 7 Dec, 2018. One must note that CWT is currently at it's peak outperformance to the SP500 index which makes it a good investment candidate. Over the last 2 years 11 months and 3 days, CWT outperformed the SP500 index on 53% days.
During the last three months CWT delivered losses on 51% days. However, it still managed to end this period in a profit. It's best return during this period (of +3.85%) was on Thursday, 6 Dec, 2018. While it's worst loss in the same period (of -3.9%) was on Tuesday, 4 Dec, 2018. The longest stort-term trends during this period were 4 profitable and losing days. The bullish trend (which returned +6.99%) started on 2 Nov, 2018 and went on till 7 Nov, 2018 while the bearish trend (which returned -5.03%) started on 10 Oct, 2018 and went on till 15 Oct, 2018.
During the last year CWT had 7 profitable months and 5 loss making months. CWT returned profits in fewer months than SP500 index. CWT was also a more risky investment than SP500 index as it's worst month in the last year, Jan 2018, returned -8.95% compared to -7.28% returned by SP500 index in Oct 2018. CWT had a shorter streak of profitable months than SP500 index. It only went up in 3 straight months during the last year. It is interesting to note that both CWT and SP500 index significantly outperform during months when quarterly/annual results are announced.
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CWT is currently seeing overall increase in volatility. In comparison, the SP500 index is seeing increase in volatility. During the last three months, there was a significant surge in CWT's volatility from 12 Sep, 2018 to 31 Oct, 2018. While there was a significant surge in the SP500 index's volatility from 10 Sep, 2018 to 29 Oct, 2018.
Advanced/professional short-term investors should note that CWT has significant positive skewness in it's return distribution. This indicates that investors can expect CWT to recover from drawdowns quickly. Which makes CWT a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.
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