How often do CROBEX10 Constituents Outperform the Index

Since 1 January 2022 up to date, none of CROBEX10 constituents outperformed the index more than 50% of the time.

For today, we decided to look at how often did each CROBEX10 constituent outperform/underperform the index. The figures relate from 1 January 2022 to date.

In the mentioned period, the CROBEX10 has observed a decrease of 11.2%, while 4 of the constituents outperformed the index. Of that, Atlantska Plovidba is the only constituent to actually report an increase in its share price, amounting to 4% YTD increase. Podravka, HT and Končar are to follow, decreasing in share price by “only” 0.3%, 6.2% and 8.3%, respectively. On the flip side, AD Plastik noted the biggest decrease of 51.2% due to semiconductor shortage in the EU market and the Russian geopolitical situation, where most car producers have stopped their production. This material impact has already been seen in AD Plastik’s H1 financial statements with the same trend continuing in 9M 2022 period, with net loss amounting to HRK 87m, due to lower sales revenue and higher costs, which also lowered operating profitability.

How much did individual constituents out/underperform the index? (YTD) (p.p.)

Source: Bloomberg, InterCapital Research

Among the CROBEX 10 constituents, each of them underperformed the index more than 50% of the time. To be specific, Adris (pref.) underperformed the index 50.2% of the time leading the way on top of the list. Adris is followed by HT with 51.1% of the time.

On the flip side, we note the CROBEX10 constituents that underperformed the index most of the observed times. Of those, Arena Hospitality leads the list, underperforming the index 54.9% of the time. Also, we note that Arena Hospitality underperformed CROBEX10 by 12.8 p.p. YTD with only AD Plastik noting worse YTD performance.

How often do CROBEX10 Constituents Outperform the Index? (%)

Source: Bloomberg, InterCapital Research

Category : Flash News

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