KEX delivered massive losses today. On a longer term basis, investors in KIRBY CORP made -0.0% per day. Thursday's performance of -3.43% was a significant underperformance compared to it's daily average.
Buy-and-Hold investors in KEX experienced a maximum drawdown of -20.35% over the last three months. It returned -12.7% during this strong down trending period. There were no long signals during this period, where the short signal generated good profits of +9.6% for investors.
During the last three months KEX delivered profits on 50% days. However, it still managed to end this period in a loss. It's best return during this period (of +6.25%) was on Tuesday, 30 Oct, 2018. While it's worst loss in the same period (of -6.96%) was on Monday, 29 Oct, 2018. There was initially a bullish trend during this period which started on 28 Sep, 2018 and went on till 3 Oct, 2018. The bullish trend returned +4.55% to investors. This was followed by a bearish trend that started on 17 Oct, 2018 and ended on 24 Oct, 2018. This bearish trend lost -17.85% of investor capital.
On monthly basis, KEX delivered profits in more months over the last year, than losses. KEX delivered profits less regularly than SP500 index. KEX was also a more risky investment than SP500 index as it's worst month in the last year, Oct 2018, returned -13.24% compared to -7.28% returned by SP500 index in Oct 2018. KEX 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 KEX and SP500 index significantly outperform during months when quarterly/annual results are announced.
Minimizing downside risk while maximizing the upside is a powerful concept.
-- Mohnish Pabrai
KEX 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 fall in KEX's volatility from 14 Sep, 2018 to 2 Oct, 2018. While there was a significant surge in the SP500 index's volatility from 14 Sep, 2018 to 29 Oct, 2018.
Advanced/professional short-term investors should note that KEX has significant positive skewness in it's return distribution. This indicates that investors can expect KEX to recover from drawdowns quickly. Which makes KEX a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.
Based on your interest in KEX you may find it interesting to know that EHC is a small cap that has shown remarkable performance and deserves to be on every investors' watchlist.
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