Flight THEME

1412.66 -35.39 (-2.5%) Sell

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FLIGHT THEME investors hold onto their investments as it marginally outperforms

14 min read

Flight was among the best performers on Thursday. It returned -2.5% to close at 1412.66. It is currently trading -17% below it's 52 week high of 1718.35.

[Theme constituents]

~FLIGHT is currently in a down trend. Over the last three months 3 bearish signals have generated a profit of +0.47% for investors.


~FLIGHT has been underperforming the SP500 index in recent time, after having outperformed till 17 Jul, 2017. Over the last 2 years 11 months and 9 days, ~FLIGHT outperformed the SP500 index on 51% days.

During the last three months ~FLIGHT delivered profits on 55% days. However, it still managed to end this period in a loss. It's best return during this period (of +3.42%) was on Thursday, 1 Nov, 2018. While it's worst loss in the same period (of -4.77%) was on Wednesday, 24 Oct, 2018. There was initially a bearish trend during this period which started on 28 Sep, 2018 and went on till 2 Oct, 2018. The trend delivered -3.36% losses to investors. This was followed by a bullish trend that started on 30 Oct, 2018 and ended on 7 Nov, 2018. This bullish trend delivered +8.69% to investors.

On monthly basis, ~FLIGHT delivered losses in more months over the last year, than profits. ~FLIGHT delivered profits less regularly than SP500 index. ~FLIGHT was also a more risky investment than SP500 index as it's worst month in the last year, Dec 2018, returned -9.7% compared to -7.28% returned by SP500 index in Oct 2018. ~FLIGHT had a longer winning streak of losing months than SP500 index. It went down in 5 straight months (from Feb 2018 to Jun 2018) during which period it delivered -11.93%.

The difference between playing the stock market and the horses is that one of the horses must win.
-- Joey Adams

~FLIGHT 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 ~FLIGHT's volatility from 21 Sep, 2018 to 25 Oct, 2018. While there was a significant surge in the SP500 index's volatility from 14 Sep, 2018 to 29 Oct, 2018.

Advanced/professional short-term investors should note that ~FLIGHT 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.

~FLIGHT has more chance of extreme outcomes than the SP500 index. Therefore, ~FLIGHT must receive a lower allocation than SP500 in your portfolio. SP500 index usually has shorter drawdown period than ~FLIGHT.

Based on your interest in ~FLIGHT you may find it interesting to know that SQ, ABMD and AMD are mid caps that have all shown remarkable performance and qualify to be on every investor's watchlist.

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