Miscellaneous Manufactur THEME

1238.66 +7.5 (+0.61%) Sell

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Doubt in the minds of MISCMANUFACTURE THEME investors as it was among the worst performers

14 min read

Miscellaneous Manufactur was among the worst performers on Tuesday. It increased by +0.61% to close at 1238.66. It is currently trading -26% below it's 52 week high of 1693.4.

[Theme constituents]

Buy-and-Hold investors in ~MISCMANUFACTURE experienced a maximum drawdown of -25.41% over the last three months. It fell by -24.96% during this strong 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. The net profit from Short signals was +21.4%.


~MISCMANUFACTURE has been underperforming the SP500 index in recent time. It showed significant outperformance (compared to the SP500 index) from 25 Jan, 2016 to 24 Oct, 2017. Over the last 2 years 11 months and 14 days, ~MISCMANUFACTURE underperformed the SP500 index on 44% days. Which indicates that on days ~MISCMANUFACTURE underperforms the SP500 index, it's performance is marginally worse than on the days it outperforms the SP500 index.

During the last three months ~MISCMANUFACTURE was mostly loss making and delivered on average -0.44% per day. It's best return during this period (of +2.51%) was on Wednesday, 28 Nov, 2018. While it's worst loss in the same period (of -4.84%) was on Tuesday, 4 Dec, 2018. The longest stort-term trend during this period was 7 losing days, which started on 20 Sep, 2018 and ended on 28 Sep, 2018. This bearish trend lost -2.43% of investor capital.

During the last year ~MISCMANUFACTURE had 6 profitable months and 6 loss making months. ~MISCMANUFACTURE returned profits in fewer months than SP500 index. ~MISCMANUFACTURE was also a more risky investment than SP500 index as it's worst month in the last year, Oct 2018, returned -14.91% compared to -7.75% returned by SP500 index in Dec 2018. ~MISCMANUFACTURE 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 ~MISCMANUFACTURE and SP500 index significantly outperform during months when quarterly/annual results are announced.

"In this world nothing can be said to be certain, except death and taxes.

~MISCMANUFACTURE 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 ~MISCMANUFACTURE's volatility from 21 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 ~MISCMANUFACTURE has significant positive skewness in it's return distribution. This indicates that investors can expect ~MISCMANUFACTURE to recover from drawdowns quickly. Which makes ~MISCMANUFACTURE a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.

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

Based on your interest in ~MISCMANUFACTURE you may find it interesting to know that ICPT and OPNT are highly volatile and therefore risky. Investors should consider limiting their exposure to these instruments (because of their volatile nature).

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