OKTA, INC.

67.27 +0.24 (+0.36%) Buy

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

13 min read

OKTA was among the best performers today. On a longer term basis, investors in OKTA, INC. made -0.16% per day. Thursday's performance of +0.36% was a significant outperformance compared to it's daily average.

[Themes containing OKTA]

OKTA showed a down trend over the last 3 months. During this period OKTA lost -3.22% and saw a maximum drawdown of -33.42%. It has been unusually choppy during this period. Long term investors are better off avoiding investing in OKTA till volatility reduces and a clear trend emerges.

Trend

OKTA has been outperforming the SP500 index in recent time. Over the last 1 year 8 months and 6 days, OKTA outperformed the SP500 index on 56% days.

During the last three months OKTA was mostly profitable and delivered on average +0.07% per day. It's best return during this period (of +11.59%) was on Wednesday, 7 Nov, 2018. While it's worst loss in the same period (of -15.66%) was on Monday, 19 Nov, 2018. There was initially a bullish trend during this period which started on 24 Sep, 2018 and went on till 27 Sep, 2018. The bullish trend returned +2.76% to investors. This was followed by a bearish trend that started on 8 Oct, 2018 and ended on 11 Oct, 2018. This bearish trend lost -17.04% of investor capital.

OKTA had 9 profitable and 3 loss making months over the last year. OKTA was profitable in more months than SP500 index. OKTA significantly outperformed SP500 index in May 2018, when it returned +31.3% compared to +4.75% returned by SP500 index during it's best month in the last one year - Jan 2018. OKTA had a shorter streak of profitable months than SP500 index. It only went up in 5 straight months during the last year.

Glamour is what I sell, it's my stock in trade.
-- Marlene Dietrich

OKTA 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 surge in OKTA's volatility from 1 Oct, 2018 to 24 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 OKTA 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 OKTA. Therefore, SP500 must receive a lower allocation than OKTA in your portfolio. SP500 index usually has shorter drawdown period than OKTA.

Based on your interest in OKTA you may find it interesting to know that AMD and TWTR are both mid caps that have shown remarkable performance and deserve to be on every investors' watchlist.

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