PIEDMONT OFFICE REALTY TRUST, INC. trailed the broader market today. It returned -0.22% to close at 17.92. During the last week it returned -1.59% and saw a maximum drawdown of -1.87% before bouncing back.
Buy-and-Hold investors in PDM experienced a maximum drawdown of -8.8% over the last three months. It returned -8.34% during this 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 +5.42%.
PDM has been outperforming the SP500 index in recent time. Over the last 2 years 11 months and 10 days, PDM underperformed the SP500 index on 50% days. Which indicates that on days PDM underperforms the SP500 index, it's performance is marginally worse than on the days it outperforms the SP500 index.
PDM returned losses on 54% days in the last three months. During this time, it delivered on average -0.13% per day. It delivered it's worst daily return of -2.97%, during this period, on Friday, 26 Oct, 2018. There was initially a bullish trend during this period which started on 5 Nov, 2018 and went on till 8 Nov, 2018. The bullish trend returned +4.79% to investors. This was followed by a bearish trend that started on 7 Dec, 2018 and ended on 12 Dec, 2018. This bearish trend lost -4.65% of investor capital.
On monthly basis, PDM delivered profits and losses in equal number of months. PDM delivered profits less regularly than SP500 index. PDM was also a more risky investment than SP500 index as it's worst month in the last year, Feb 2018, returned -7.99% compared to -7.28% returned by SP500 index in Oct 2018. PDM had a shorter streak of profitable months than SP500 index. It only went up in 5 straight months during the last year. It is interesting to note that both PDM and SP500 index significantly outperform during months when quarterly/annual results are announced.
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
PDM 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 PDM's volatility from 5 Oct, 2018 to 31 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 PDM has significant positive skewness in it's return distribution. This indicates that investors can expect PDM to recover from drawdowns quickly. Which makes PDM a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.
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