MSG significantly underperformed today. On a longer term basis, investors in MADISON SQUARE GARDEN CO made -0.09% per day. Friday's performance of -0.48% was a significant underperformance compared to it's daily average.
Buy-and-Hold investors in MSG experienced a maximum drawdown of -20.43% over the last three months. It returned -14.11% during this strong down trending period. There were both Long and Short signals during this period, where the short signals were significantly more profitable than the long signals. The net profit from Short signals was +10.11%.
MSG has been outperforming the SP500 index in recent time. Over the last 2 years 11 months and 10 days, MSG outperformed the SP500 index on 50% days. Which indicates that on days MSG outperforms the SP500 index, it's performance is marginally better than on the days it underperforms the SP500 index.
During the last three months MSG was mostly loss making and delivered on average -0.22% per day. It's best return during this period (of +5.21%) was on Wednesday, 28 Nov, 2018. While it's worst loss in the same period (of -3.85%) was on Wednesday, 14 Nov, 2018. There was initially a bearish trend during this period which started on 8 Nov, 2018 and went on till 14 Nov, 2018. The trend delivered -9.28% losses to investors. This was followed by a bullish trend that started on 20 Nov, 2018 and ended on 26 Nov, 2018. This bullish trend delivered +5.48% to investors.
On monthly basis, MSG delivered profits in more months over the last year, than losses. MSG delivered profits less regularly than SP500 index. MSG significantly outperformed SP500 index in Jun 2018, when it returned +18.38% compared to +4.75% returned by SP500 index during it's best month in the last one year - Jan 2018. MSG and SP500 index, both had periods of 6 consecutive profitable months.
Formal education will make you a living; self-education will make you a fortune.
-- Jim Rohn
MSG 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 MSG's volatility from 24 Sep, 2018 to 6 Dec, 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 MSG 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.
On a general note (since you are interested in MSG), three large cap instruments that deserve special mention are UNH, V and CSCO. They have all outperformed the market and must be closely watched for investment opportunities.
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