PATTERN ENERGY GROUP INC. delivered massive losses today. It fell by -0.28% to close at 21.15. It's recent 5 day performance has been +2.07%, -1.0%, +1.45%, -1.48% and +0.1%.
PEGI showed a bullish trend over the last 3 months. During this period PEGI surged by +7.69% and saw a maximum drawdown of -16.55%. There were 2 long signals during this period that returned a cumulative of +6.04% to investors.
PEGI has been outperforming the SP500 index in recent time. It showed significant underperformance (compared to the SP500 index) from 8 Sep, 2016 to 13 Jul, 2018. Over the last 2 years 11 months and 3 days, PEGI underperformed the SP500 index on 47% days. Which indicates that on days PEGI underperforms the SP500 index, it's performance is marginally worse than on the days it outperforms the SP500 index.
PEGI was profitable on 58% days in the last three months. During this time, it delivered on average +0.14% per day. It delivered it's worst daily return of -6.34%, during this period, on Tuesday, 23 Oct, 2018. The longest stort-term trend during this period was 5 profitable days, which started on 1 Nov, 2018 and went on till 7 Nov, 2018. This bullish trend returned +15.48% to investors.
During the last year PEGI had 6 profitable months and 6 loss making months. PEGI returned profits in fewer months than SP500 index. PEGI significantly outperformed SP500 index in Nov 2018, when it returned +15.46% compared to +4.75% returned by SP500 index during it's best month in the last one year - Jan 2018. PEGI had a shorter streak of profitable months than SP500 index. It only went up in 3 straight months during the last year.
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PEGI 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 PEGI's volatility from 13 Sep, 2018 to 6 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 PEGI has significant positive skewness in it's return distribution. This indicates that investors can expect PEGI to recover from drawdowns quickly. Which makes PEGI a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.
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