TERRENO REALTY CORP outperformed the broader market on Tuesday. It increased by +0.98% to close at 37.12. On a day when the overall market breadth was 34%, it closed higher than 8% of the market. In comparison, the benchmark SP500 index closed today at +0.01%.
Buy-and-Hold investors in TRNO experienced a maximum drawdown of -7.98% over the last three months. It delivered +0.6% during this flat trending period. There were both Long and Short signals during this period, while the long signals were marginally more profitable than the short signals.
TRNO has been outperforming the SP500 index in recent time. It showed significant outperformance (compared to the SP500 index) from 13 Apr, 2016 to 23 Nov, 2018. Over the last 2 years 11 months and 14 days, TRNO outperformed the SP500 index on 51% days.
During the last three months TRNO delivered losses on 53% days. However, it still managed to end this period in a profit. It's best return during this period (of +2.96%) was on Tuesday, 16 Oct, 2018. While it's worst loss in the same period (of -4.74%) was on Thursday, 11 Oct, 2018. The longest stort-term trend during this period was 4 losing days, which started on 12 Dec, 2018 and ended on 17 Dec, 2018. This bearish trend lost -4.43% of investor capital.
The last 12 months saw TRNO's investors making profits in 7 months and incurring losses in 5 months. TRNO was less consistent in delivering monthly returs than SP500 index. TRNO significantly outperformed SP500 index in Apr 2018, when it returned +9.75% compared to +4.75% returned by SP500 index during it's best month in the last one year - Jan 2018. TRNO 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 TRNO and SP500 index significantly outperform during months when quarterly/annual results are announced.
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TRNO is currently seeing overall increase in volatility. In comparison, the SP500 index is seeing increase in volatility. During the last three months, there was a significant fall in TRNO's volatility from 19 Sep, 2018 to 5 Oct, 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 TRNO has significant positive skewness in it's return distribution. This indicates that investors can expect TRNO to recover from drawdowns quickly. Which makes TRNO a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.
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