MYRIAD GENETICS INC

31.51 -0.61 (-1.93%) Buy

Search for alternative investments is on for MYGN investors as it underperforms broader market

13 min read

MYRIAD GENETICS INC ranked among the worst performers on Friday. It fell by -1.93% to close at 31.51. It is currently trading -37% below it's 52 week high of 50.34.

[Themes containing MYGN]

MYGN is currently in a bullish trend. The previous long signal in MYGN has not been profitable for investors in general. If you are invested in MYGN at current levels please make sure that your allocation is limited and that your portfolio is well diversified.

Trend

MYGN has been underperforming the SP500 index in recent time. It showed significant underperformance (compared to the SP500 index) from 13 Jan, 2016 to 7 Feb, 2017. Over the last 2 years 11 months and 3 days, MYGN underperformed the SP500 index on 49% days. Which indicates that on days MYGN underperforms the SP500 index, it's performance is marginally worse than on the days it outperforms the SP500 index.

MYGN returned losses on 56% days in the last three months. During this time, it delivered on average -0.58% per day. It delivered it's worst daily return of -12.5%, during this period, on Thursday, 1 Nov, 2018. The longest stort-term trend during this period was 9 losing days, which started on 31 Oct, 2018 and ended on 12 Nov, 2018. This bearish trend lost -40.94% of investor capital.

During the last year MYGN had 6 profitable months and 6 loss making months. MYGN returned profits in fewer months than SP500 index. MYGN significantly outperformed SP500 index in May 2018, when it returned +29.06% compared to +4.75% returned by SP500 index during it's best month in the last one year - Jan 2018. MYGN had a shorter streak of profitable months than SP500 index. It only went up in 4 straight months during the last year. It is interesting to note that both MYGN and SP500 index significantly outperform during months when quarterly/annual results are announced.

Finance, like time, devours its own children.
-- Honore de Balzac

MYGN 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 MYGN's volatility from 10 Sep, 2018 to 1 Nov, 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 MYGN has significant positive skewness in it's return distribution. This indicates that investors can expect MYGN to recover from drawdowns quickly. Which makes MYGN a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.

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

Based on your interest in MYGN you may find it interesting to know that TYHT has shown remarkable performance and deserves to be on every investors' watchlist.

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