SAILPOINT TECHNOLOGIES HOLDINGS, INC. was among the worst performers on Friday. It delivered -1.82% to close at 24.32. On a day when the overall market breadth was 35%, it closed higher than 2% of the market. In comparison, the benchmark SP500 index closed today at -0.0191%.
SAIL showed a strong bearish trend over the last 3 months. During this period SAIL delivered -23.18% and saw a maximum drawdown of -31.21%. There was a short signal during this period which returned +15.61%.
SAIL has been underperforming the SP500 index in recent time. It showed significant outperformance (compared to the SP500 index) from 17 Nov, 2017 to 25 Sep, 2018. Over the last 1 year and 1 month, SAIL outperformed the SP500 index on 51% days.
SAIL returned losses on 54% days in the last three months. During this time, it delivered on average -0.35% per day. It delivered it's worst daily return of -12.37%, during this period, on Monday, 19 Nov, 2018. The longest stort-term trend during this period was 6 losing days, which started on 4 Oct, 2018 and ended on 11 Oct, 2018. This bearish trend lost -20.74% of investor capital.
The last 12 months saw SAIL's investors making profits in 6 months and incurring losses in 6 months. SAIL was less consistent in delivering monthly returs than SP500 index. SAIL significantly outperformed SP500 index in Aug 2018, when it returned +28.39% compared to +4.75% returned by SP500 index during it's best month in the last one year - Jan 2018. SAIL had a longer winning streak of losing months than SP500 index. It went down in 3 straight months (from Oct 2018 to Dec 2018) during which period it delivered -28.18%. It is interesting to note that both SAIL and SP500 index significantly outperform during months when quarterly/annual results are announced.
The stock market is filled with individuals who know the price of everything, but the value of nothing.
-- Phillip Fisher
SAIL 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 SAIL's volatility from 18 Sep, 2018 to 11 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 SAIL 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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