Are you evaluating investing in GKOS? Consider as it was among the best performers

GLAUKOS CORP was among the best performers on Friday. It returned +0.65% to close at 64.59. On a day when the overall market breadth was 35%, it closed higher than 18% of the market. In comparison, the benchmark SP500 index closed today at -0.0191%.

[Themes containing GKOS]

GKOS showed a up trend over the last 3 months. During this period GKOS returned +6.8% and saw a maximum drawdown of -15.05%. It has been unusually choppy during this period. Long term investors are better off avoiding investing in GKOS till volatility reduces and a clear trend emerges.

Trend

Monthly Performance

Alpha (outperformance)

Heatmap

Volatility

Return distribution

GKOS has been outperforming the SP500 index in recent time. Over the last 2 years 11 months and 10 days, GKOS outperformed the SP500 index on 54% days.

During the last three months GKOS was mostly profitable and delivered on average +0.15% per day. It's best return during this period (of +5.84%) was on Wednesday, 28 Nov, 2018. While it's worst loss in the same period (of -7.82%) was on Monday, 19 Nov, 2018. There was initially a bearish trend during this period which started on 4 Oct, 2018 and went on till 11 Oct, 2018. The trend delivered -9.9% losses to investors. This was followed by a bullish trend that started on 21 Nov, 2018 and ended on 3 Dec, 2018. This bullish trend delivered +20.94% to investors.

GKOS had 8 profitable and 4 loss making months over the last year. During the last year, number of profitable months of GKOS and SP500 index were the same. GKOS significantly outperformed SP500 index in Aug 2018, when it returned +64.31% compared to +4.75% returned by SP500 index during it's best month in the last one year - Jan 2018. GKOS had a shorter streak of profitable months than SP500 index. It only went up in 5 straight months during the last year. It is interesting to note that both GKOS and SP500 index significantly outperform during months when quarterly/annual results are announced.

I think that stocks have been this tremendous, tremendous equalizer for people in this country. Guys who can't make a lot of money at their jobs have been able to make a lot of money in the stock market.
-- Jim Cramer

GKOS 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 surge in GKOS's volatility from 17 Sep, 2018 to 8 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 GKOS has negative skewness in it's return distribution. This indicates that investors may need to stay invested through long periods of drawdown before expecting a recovery.

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

On a general note (since you are interested in GKOS), two large cap instruments that deserve special mention are UNH and AMZN. They have significantly outperformed the overall market.