Medical Devices is a falling knife that can bleed you if you catch it on Tuesday. It delivered -0.12% to close at 1546.39. On a day when the overall market breadth was 34%, it closed higher than 77% of the market. In comparison, the benchmark SP500 index closed today at +0.01%.
Buy-and-Hold investors in ~MEDICALDEVICES experienced a maximum drawdown of -11.55% over the last three months. It delivered -6.69% during this bearish trending period. There were both Long and Short signals during this period, where the short signals were significantly more profitable than the long signals.
~MEDICALDEVICES has been outperforming the SP500 index in recent time. It showed significant outperformance (compared to the SP500 index) from 1 Dec, 2016 to 12 Dec, 2018. Over the last 2 years 11 months and 14 days, ~MEDICALDEVICES outperformed the SP500 index on 57% days.
~MEDICALDEVICES was profitable on 53% days in the last three months. During this time, it delivered on average -0.1% per day. It delivered it's worst daily return of -3.1%, during this period, on Friday, 7 Dec, 2018. The longest stort-term trend during this period was 9 profitable days, which started on 19 Sep, 2018 and went on till 1 Oct, 2018. This bullish trend returned +2.22% to investors.
The last 12 months saw ~MEDICALDEVICES's investors making profits in 9 months and incurring losses in 3 months. During the last year, ~MEDICALDEVICES delivered profits in more months than SP500 index. ~MEDICALDEVICES significantly outperformed SP500 index in Nov 2018, when it returned +9.9% compared to +4.75% returned by SP500 index during it's best month in the last one year - Jan 2018. ~MEDICALDEVICES had a longer winning streak of profitable months than SP500 index. It went up in 7 straight months (from Mar 2018 to Sep 2018) during which period it delivered +17.24%. It is interesting to note that both ~MEDICALDEVICES and SP500 index significantly outperform during months when quarterly/annual results are announced.
"Based on my own personal experience - both as an investor in recent years and an expert witness in years past - rarely do more than three or four variables really count. Everything else is noise.
~MEDICALDEVICES 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 ~MEDICALDEVICES's volatility from 27 Sep, 2018 to 7 Dec, 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 ~MEDICALDEVICES has significant positive skewness in it's return distribution. This indicates that investors can expect ~MEDICALDEVICES to recover from drawdowns quickly. Which makes ~MEDICALDEVICES a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.
~MEDICALDEVICES has more chance of extreme outcomes than the SP500 index. Therefore, ~MEDICALDEVICES must receive a lower allocation than SP500 in your portfolio. SP500 index usually has shorter drawdown period than ~MEDICALDEVICES.
Based on your interest in ~MEDICALDEVICES you may find it interesting to know that MSFT, V and PFE are large caps that have all shown remarkable performance and qualify to be on every investor's watchlist.
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