Profit booking on the minds of TDY investors as it marginally outperforms
14 Dec, 201813 min read
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TDY delivered stellar performance today. On a longer term basis, investors in TELEDYNE TECHNOLOGIES INC made -0.07% per day. Friday's performance of +0.59% was a significant outperformance compared to it's daily average.
Buy-and-Hold investors in TDY experienced a maximum drawdown of -18.79% over the last three months. It returned -17.09% during this strong 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 +8.9%.
TDY has been underperforming the SP500 index in recent time, after having outperformed till 17 Sep, 2018. Over the last 2 years 11 months and 10 days, TDY outperformed the SP500 index on 54% days.
TDY returned losses on 59% days in the last three months. During this time, it delivered on average -0.28% per day. It delivered it's worst daily return of -5.52%, during this period, on Tuesday, 4 Dec, 2018. There was initially a bearish trend during this period which started on 4 Oct, 2018 and went on till 11 Oct, 2018. The trend delivered -10.85% losses to investors. This was followed by a bullish trend that started on 28 Nov, 2018 and ended on 3 Dec, 2018. This bullish trend delivered +5.93% to investors.
On monthly basis, TDY delivered profits in more months over the last year, than losses. TDY delivered profits less regularly than SP500 index. TDY was also a more risky investment than SP500 index as it's worst month in the last year, Oct 2018, returned -9.92% compared to -7.28% returned by SP500 index in Oct 2018. TDY had a shorter streak of profitable months than SP500 index. It only went up in 3 straight months during the last year. It is interesting to note that both TDY and SP500 index significantly outperform during months when quarterly/annual results are announced.
"Watch your finances like a hawk.
TDY 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 TDY's volatility from 17 Sep, 2018 to 7 Dec, 2018. While there was a significant surge in the SP500 index's volatility from 25 Sep, 2018 to 29 Oct, 2018.
TDY has more chance of extreme outcomes than the SP500 index. Therefore, TDY must receive a lower allocation than SP500 in your portfolio.
On a general note (since you are interested in TDY), AAXN is a small cap that deserves to be closely tracked for investment opportunities.
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