8.27 +0.28 (+3.38%) Buy

Looking to invest in OR? Consider at the moment as it outperformed the broader market

13 min read

OSISKO GOLD ROYALTIES LTD (Foreign) outperformed the broader market on Tuesday. It increased by +3.38% to close at 8.27. On a day when the overall market breadth was 34%, it closed higher than 7% of the market. In comparison, the benchmark SP500 index closed today at +0.01%.

[Themes containing OR]

OR showed a bullish trend over the last 3 months. During this period OR increased by +8.53% and saw a maximum drawdown of -14.13%. There were 2 long signals during this period that returned a cumulative of +2.12% to investors.


OR has been outperforming the SP500 index in recent time. It showed significant underperformance (compared to the SP500 index) from 1 Aug, 2016 to 27 Sep, 2018. Over the last 2 years 5 months and 11 days, OR underperformed the SP500 index on 52% days.

During the last three months OR was mostly profitable and delivered on average +0.16% per day. It's best return during this period (of +6.31%) was on Friday, 7 Dec, 2018. While it's worst loss in the same period (of -6.49%) was on Thursday, 25 Oct, 2018. The longest stort-term trend during this period was 5 profitable days, which started on 13 Nov, 2018 and went on till 19 Nov, 2018. This bullish trend returned +7.86% to investors.

During the last year OR had 4 profitable months and 8 loss making months. OR returned profits in fewer months than SP500 index. OR was also a more risky investment than SP500 index as it's worst month in the last year, Aug 2018, returned -16.51% compared to -7.75% returned by SP500 index in Dec 2018. OR had a longer winning streak of losing months than SP500 index. It went down in 4 straight months (from Jan 2018 to Apr 2018) during which period it delivered -17.42%. It is interesting to note that both OR and SP500 index significantly outperform during months when quarterly/annual results are announced.

The difference between playing the stock market and the horses is that one of the horses must win.
-- Joey Adams

OR 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 OR's volatility from 5 Oct, 2018 to 10 Dec, 2018. While there was a significant surge in the SP500 index's volatility from 19 Sep, 2018 to 29 Oct, 2018.

Advanced/professional short-term investors should note that OR 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 OR. Therefore, SP500 must receive a lower allocation than OR in your portfolio. SP500 index usually has shorter drawdown period than OR.

Based on your interest in OR you may find it interesting to know that KEYS, PTC and BURL are small caps that have all shown remarkable performance and qualify to be on every investor's watchlist.

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