Minimally Invasive Surgery THEME

1650.26 -4.92 (-0.3%) Sell

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SURGERYSPLST THEME is a falling knife, continues to bleed every investor trying to catch it

14 min read

~SURGERYSPLST was among the worst performers today. On a longer term basis, investors in Minimally Invasive Surgery made +0.08% per day. Tuesday's performance of -0.3% was a significant underperformance compared to it's daily average.

[Theme constituents]

Buy-and-Hold investors in ~SURGERYSPLST experienced a maximum drawdown of -21.41% over the last three months. It returned -18.1% 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 +15.85%.


~SURGERYSPLST has been underperforming the SP500 index in recent time, after having outperformed till 28 Sep, 2018. Over the last 2 years 11 months and 14 days, ~SURGERYSPLST outperformed the SP500 index on 55% days.

During the last three months ~SURGERYSPLST was mostly loss making and delivered on average -0.3% per day. It's best return during this period (of +3.38%) was on Tuesday, 16 Oct, 2018. While it's worst loss in the same period (of -4.7%) was on Tuesday, 4 Dec, 2018. There was initially a bullish trend during this period which started on 19 Sep, 2018 and went on till 25 Sep, 2018. The bullish trend returned +3.57% to investors. This was followed by a bearish trend that started on 23 Oct, 2018 and ended on 29 Oct, 2018. This bearish trend lost -5.18% of investor capital.

On monthly basis, ~SURGERYSPLST delivered profits in more months over the last year, than losses. ~SURGERYSPLST delivered profits less regularly than SP500 index. ~SURGERYSPLST significantly outperformed SP500 index in May 2018, when it returned +11.7% compared to +4.75% returned by SP500 index during it's best month in the last one year - Jan 2018. ~SURGERYSPLST 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 +29.85%. It is interesting to note that both ~SURGERYSPLST and SP500 index significantly outperform during months when quarterly/annual results are announced.

An investment in knowledge pays the best interest.
-- Benjamin Franklin

~SURGERYSPLST is becoming less volatile overall. In comparison, the SP500 index is seeing a rise in volatility. During the last three months, there was a significant surge in ~SURGERYSPLST's volatility from 24 Sep, 2018 to 19 Nov, 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 ~SURGERYSPLST has significant positive skewness in it's return distribution. This indicates that investors can expect ~SURGERYSPLST to recover from drawdowns quickly. Which makes ~SURGERYSPLST a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.

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

On a general note (since you are interested in ~SURGERYSPLST), three instruments that have performed similar to ~SURGERYSPLST are ~HEALTHCARESERVS, ~REPEALOBAMACARE and ~FREIGHT. They must all be evaluated as alternative investment options and for diversification.

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