OCEANFIRST FINANCIAL CORP delivered massive losses on Friday. It delivered -2.06% to close at 23.34 which is it's 52 week low, down -24% from it's 52 week high.
Buy-and-Hold investors in OCFC experienced a maximum drawdown of -18.62% over the last three months. It delivered -18.22% during this strong bearish trending period. There were no long signals during this period, where the short signal generated good profits of +18.22% for investors.
OCFC has been underperforming the SP500 index in recent time. It showed significant outperformance (compared to the SP500 index) from 17 May, 2016 to 4 Jan, 2017. Over the last 2 years 11 months and 10 days, OCFC underperformed the SP500 index on 47% days. Which indicates that on days OCFC underperforms the SP500 index, it's performance is marginally worse than on the days it outperforms the SP500 index.
OCFC returned losses on 59% days in the last three months. During this time, it delivered on average -0.31% per day. It delivered it's worst daily return of -4.88%, during this period, on Tuesday, 4 Dec, 2018. The longest stort-term trend during this period was 6 profitable days, which started on 1 Nov, 2018 and went on till 8 Nov, 2018. This bullish trend returned +3.85% to investors.
The last 12 months saw OCFC's investors making profits in 6 months and incurring losses in 6 months. OCFC was less consistent in delivering monthly returs than SP500 index. OCFC was also a more risky investment than SP500 index as it's worst month in the last year, Dec 2018, returned -9.43% compared to -7.28% returned by SP500 index in Oct 2018. OCFC had a shorter streak of profitable months than SP500 index. It only went up in 4 straight months during the last year.
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OCFC 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 OCFC's volatility from 20 Sep, 2018 to 29 Oct, 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 OCFC 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.
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