{"id":5066,"date":"2020-08-01T05:03:10","date_gmt":"2020-08-01T05:03:10","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=5066"},"modified":"2021-12-15T14:04:00","modified_gmt":"2021-12-15T14:04:00","slug":"moving-average-momentum-entrepreneurship-and-more","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/","title":{"rendered":"Moving Average Momentum, Entrepreneurship, and more!"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69dc77764590b\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69dc77764590b\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#Index_Returns\" title=\"Index Returns\">Index Returns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#Top_5_best_performing_funds\" title=\"Top 5 best performing funds\">Top 5 best performing funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#Top_5_worst_performing_funds\" title=\"Top 5 worst performing funds\">Top 5 worst performing funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#What_Investors_Bought\" title=\"What Investors Bought\">What Investors Bought<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#What_Investors_Sold\" title=\"What Investors Sold\">What Investors Sold<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#Most_Watchlisted_Fund\" title=\"Most Watchlisted Fund\">Most Watchlisted Fund<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#Top_ELSS_funds\" title=\"Top ELSS funds\">Top ELSS funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#Most_Watchlisted_Stocks\" title=\"Most Watchlisted Stocks\">Most Watchlisted Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#Announcement\" title=\"Announcement\">Announcement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#Quote_of_the_week\" title=\"Quote of the week:\">Quote of the week:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/#Interested_in_how_we_think_about_the_markets\" title=\"Interested in how we think about the markets?\">Interested in how we think about the markets?<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\"><strong>If you haven&#8217;t been sold a <a href=\"https:\/\/kuvera.in\/blog\/promises-and-pitfalls-of-simple-moving-average-strategies\/\">moving average momentum strategy<\/a>, you will be sold one soon<\/strong>. It is the simplest momentum-based quantitative strategy and the backtest can be set up easily in excel &#8211; thus its widespread availability.<\/span><\/p>\n<p>What is it?<\/p>\n<p>A simple moving average strategy comprises two signals:<\/p>\n<p>1\/ A short-term moving average \u2013 say average price over the past 21 days.<\/p>\n<p>2\/ A long-term moving average \u2013 say average price over the past 200 days.<\/p>\n<p>When the short-term moving average crosses above the longer-term moving average, you buy the stock or fund in the belief that the trend is picking up (known as a \u201cgolden crossover\u201d). When the short-term moving average crosses below the longer-term moving average, you sell the stock or fund (known as a \u201cdeath cross\u201d).<\/p>\n<p>So far so good and a really simple strategy setup as you will agree.<\/p>\n<p>The problem is these strategies are sold as something of a market truth. As in the 200 days moving average or the 10 months moving average or an exponential moving average captures some truth about how investor behave and thus these strategies will always work. What is closer to the truth is that the strategy being sold to you has been fitted to the past data to show the highest returns for the least amount of risk. And the strategy returns you are shown will not manifest in the future.<\/p>\n<p>Below is an example from Prof Ben&#8217;s blog on moving averages we published this week. Below table shows the return of different moving averages crossover strategies from 2010 &#8211; 2015. These are before cost, but still instructive for our purpose. As you will see that using a 1-day short-term moving average and 5-day long-term moving average did the best in this time period delivering 20% CAGR before transaction costs.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-5072\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/07\/InkedCAGR2010-2015_LI.jpg\" alt=\"\" width=\"744\" height=\"682\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/07\/InkedCAGR2010-2015_LI.jpg 744w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/07\/InkedCAGR2010-2015_LI-300x275.jpg 300w\" sizes=\"(max-width: 744px) 100vw, 744px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Fast forward to 2016-2020.<\/p>\n<p>The winner strategy of 2010-2015 not only didn\u2019t do well, but it also lost money! Down 1.73% per year in a bull market is kind of hard to believe for a momentum strategy and that too before transaction costs.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-5073\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/07\/InkedCAGR2016-2020_LI.jpg\" alt=\"\" width=\"758\" height=\"656\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/07\/InkedCAGR2016-2020_LI.jpg 758w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2020\/07\/InkedCAGR2016-2020_LI-300x260.jpg 300w\" sizes=\"(max-width: 758px) 100vw, 758px\" \/><\/p>\n<p>As Prof Ben of NUS says most\u00a0investment advisers will not show you the above charts or the out-of-sample\u00a0performance of these simple momentum strategies but will present the best performing strategy in past data, and pitch it to you with some kind of story about human behaviour being predictable.<\/p>\n<p>Read Prof Ben\u2019s note\u00a0<a href=\"https:\/\/kuvera.in\/blog\/promises-and-pitfalls-of-simple-moving-average-strategies\/\">here<\/a>\u00a0where he lays out all the questions you need to ask your adviser if they are looking to sell you a moving average or any such momentum strategy. It is a must-read if you want to avoid disappointment when the promised returns based on the backtest are not delivered.<\/p>\n<p>&nbsp;<\/p>\n<p>On this episode of <a href=\"https:\/\/www.youtube.com\/watch?v=PlhRRvuC7ic&amp;t=122s\"><span style=\"font-weight: 400;\">#KuveraInsights<\/span><\/a><span style=\"font-weight: 400;\"> we bring you a session by Gaurav Rastogi, Founder &amp; CEO &#8211; Kuvera.in at the Women In Tech virtual conference &#8211; <\/span><a href=\"https:\/\/womenintechnology.in\/Wit-Spark-Virtual-Conference-2020\"><span style=\"font-weight: 400;\">#WiTSPARK 2020<\/span><\/a><span style=\"font-weight: 400;\">. Gaurav addressed several questions that a &#8216;yet to be an entrepreneur&#8217; faces while on the crossroads of &#8216;taking the plunge&#8217;. &#8220;It ain&#8217;t easy and yet the journey&#8217;s exhilarating,&#8221; says Gaurav.<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"Kuvera Insights: &#039;Taking the Entrepreneurial Plunge&#039; by Gaurav Rastogi at #WiTSpark\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/PlhRRvuC7ic?start=122&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p><b>Mutual fund industry witnessed an inflow of Rs 1.24 lakh crore during the quarter ended in June 2020<\/b><span style=\"font-weight: 400;\">. In comparison, mutual funds saw an outflow of Rs 94,200 crore during the preceding quarter. Liquid funds witnessed the most traction with inflows of Rs 86,493 crore. Equity funds saw inflows of Rs 11,710 crore during this period. The overall industry AUM rose by 14.5% to Rs 25.49 lakh crore in the quarter ended in June, while AUM of equity-oriented mutual funds increased 21% to Rs 7.01 lakh crore.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Index_Returns\"><\/span><strong>Index Returns<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table style=\"height: 235px;\" width=\"450\">\n<tbody>\n<tr>\n<td width=\"308\"><strong>Index<\/strong><\/td>\n<td width=\"91\"><strong>1W<\/strong><\/td>\n<td width=\"95\"><strong>1Y<\/strong><\/td>\n<td width=\"90\"><strong>3Y<\/strong><\/td>\n<td width=\"67\"><strong>P\/E<\/strong><\/td>\n<td width=\"64\"><strong>P\/B<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"308\">NIFTY 50<\/td>\n<td width=\"91\">-1.1%<\/td>\n<td width=\"95\">-0.1%<\/td>\n<td width=\"90\">3.2%<\/td>\n<td>30.2<\/td>\n<td>3.1<\/td>\n<\/tr>\n<tr>\n<td width=\"308\">NIFTY NEXT 50<\/td>\n<td width=\"91\">2.0%<\/td>\n<td width=\"95\">3.9%<\/td>\n<td width=\"90\">-1.3%<\/td>\n<td>32.9<\/td>\n<td>3.8<\/td>\n<\/tr>\n<tr>\n<td width=\"308\">S&amp;P BSE SENSEX<\/td>\n<td width=\"91\">-1.4%<\/td>\n<td width=\"95\">0.3%<\/td>\n<td width=\"90\">5.0%<\/td>\n<td>26.2<\/td>\n<td>2.8<\/td>\n<\/tr>\n<tr>\n<td width=\"308\">S&amp;P BSE SmallCap<\/td>\n<td width=\"91\">0.4%<\/td>\n<td width=\"95\">2.6%<\/td>\n<td width=\"90\">-6.8%<\/td>\n<td>-409.6<\/td>\n<td>2.0<\/td>\n<\/tr>\n<tr>\n<td width=\"308\">S&amp;P BSE MidCap<\/td>\n<td width=\"91\">0.4%<\/td>\n<td width=\"95\">0.8%<\/td>\n<td width=\"90\">-3.7%<\/td>\n<td>29.7<\/td>\n<td>2.2<\/td>\n<\/tr>\n<tr>\n<td width=\"308\">NASDAQ 100<\/td>\n<td width=\"91\">4.0%<\/td>\n<td width=\"95\">37.5%<\/td>\n<td width=\"90\">22.3%<\/td>\n<td>35.0<\/td>\n<td>7.8<\/td>\n<\/tr>\n<tr>\n<td width=\"308\">S&amp;P 500<\/td>\n<td width=\"91\">1.7%<\/td>\n<td width=\"95\">9.3%<\/td>\n<td width=\"90\">9.7%<\/td>\n<td>24.5<\/td>\n<td>3.7<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: BSE \/ NSE<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Top_5_best_performing_funds\"><\/span><strong>Top 5 best performing funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table style=\"height: 144px;\" border=\"0\" width=\"489\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/idbi-gold-growth--GFG1-GR\">IDBI Gold<\/a><\/td>\n<td>10.1%<\/td>\n<td>53.6%<\/td>\n<td>22.7%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/uti-healthcare-growth--UTGPD2-GR\">UTI Healthcare<\/a><\/td>\n<td>8.1%<\/td>\n<td>52.9%<\/td>\n<td>12.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/tata-india-pharma-healthcare-growth--TAIPHGZ-GR\">Tata India Pharma &amp; Healthcare<\/a><\/td>\n<td>7.9%<\/td>\n<td>43.7%<\/td>\n<td>14.4%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/sbi-healthcare-opportunities-growth--SBD035G-GR\">SBI Healthcare Opportunities<\/a><\/td>\n<td>7.4%<\/td>\n<td>51.7%<\/td>\n<td>9.8%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/nippon-india-pharma-growth--PHAG-GR\">Nippon India Pharma<\/a><\/td>\n<td>7.3%<\/td>\n<td>53.3%<\/td>\n<td>18.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Top_5_worst_performing_funds\"><\/span><strong>Top 5 worst performing funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table style=\"height: 142px;\" border=\"0\" width=\"491\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/sundaram-financial-services-opportunities-growth--SU98PD-GR\">Sundaram Financial Services ..<\/a><\/td>\n<td>-4.8%<\/td>\n<td>-14.2%<\/td>\n<td>-2.4%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/baroda-banking-financial-services-b-growth--BO101-GR\">Baroda Banking &amp; Financial ..<\/a><\/td>\n<td>-4.8%<\/td>\n<td>-18.9%<\/td>\n<td>-3.6%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/icici-prudential-banking-financial-services-growth--8044-GR\">ICICI Pru Banking &amp; Financial &#8230;<\/a><\/td>\n<td>-4.4%<\/td>\n<td>-21.7%<\/td>\n<td>-6.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/nippon-india-banking-growth--BFAG-GR\">Nippon India Banking<\/a><\/td>\n<td>-4.3%<\/td>\n<td>-28.5%<\/td>\n<td>-9.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/sbi-banking-financial-services-growth--SBD464G-GR\">SBI Banking &amp; Financial Services<\/a><\/td>\n<td>-4.2%<\/td>\n<td>-13.1%<\/td>\n<td>1.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"What_Investors_Bought\"><\/span><strong>What Investors Bought<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>We saw the most inflows in these 5 Funds \u2013<\/p>\n<table style=\"height: 142px;\" border=\"0\" width=\"482\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/parag-parikh-long-term-equity-growth--PP001ZG-GR\">Parag Parikh Long Term Equity<\/a><\/td>\n<td>1.3%<\/td>\n<td>19.6%<\/td>\n<td>12.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/axis-bluechip-growth--AXEFDG-GR\">Axis Bluechip<\/a><\/td>\n<td>-0.2%<\/td>\n<td>5.9%<\/td>\n<td>10.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/motilal-oswal-nasdaq-100-fund-of-fund-growth--MON1GD-GR\">MOSL Nasdaq 100 FoF<\/a><\/td>\n<td>2.7%<\/td>\n<td>46.8%<\/td>\n<td>NA<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/kotak-standard-multicap-growth--KO168D-GR\">Kotak Standard Multicap<\/a><\/td>\n<td>-0.6%<\/td>\n<td>0.7%<\/td>\n<td>3.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/dsp-world-gold-growth--DS758-GR\">DSP World Gold<\/a><\/td>\n<td>1.8%<\/td>\n<td>65.4%<\/td>\n<td>23.4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"What_Investors_Sold\"><\/span><strong>What Investors Sold<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>We saw the most outflows in these 5 Funds \u2013<\/p>\n<table style=\"height: 140px;\" border=\"0\" width=\"493\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/franklin-india-smaller-companies-growth--478-GR\">Franklin India Smaller Compan..<\/a><\/td>\n<td>0.3%<\/td>\n<td>-12.8%<\/td>\n<td>-8.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/hdfc-index-nifty-50-growth--INNPT-GR\">HDFC Index Nifty 50<\/a><\/td>\n<td>-1.0%<\/td>\n<td>-0.1%<\/td>\n<td>4.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/axis-arbitrage-growth--AXEADG-GR\">Axis Arbitrage<\/a><\/td>\n<td>-0.1%<\/td>\n<td>5.6%<\/td>\n<td>6.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/invesco-india-opportunities-growth--RGGFD1-GR\">Invesco India Opportunities<\/a><\/td>\n<td>-0.4%<\/td>\n<td>3.7%<\/td>\n<td>4.7%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/l-t-emerging-businesses-growth--LTLEBDG-GR\">L&amp;T Emerging Businesses<\/a><\/td>\n<td>0.6%<\/td>\n<td>-11.0%<\/td>\n<td>-7.2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Most_Watchlisted_Fund\"><\/span><strong>Most Watchlisted Fund<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Top 5 funds added to\u00a0<a href=\"https:\/\/app.kuvera.in\/explore\/watchlist\">watchlist<\/a>\u00a0by Kuverians<\/p>\n<table style=\"height: 140px;\" border=\"0\" width=\"495\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/pgim-india-global-equity-opportunities-growth--PRGAD1-GR\">PGIM Global Equity Opp&#8230;.<\/a><\/td>\n<td>0.1%<\/td>\n<td>51.1%<\/td>\n<td>27.7%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/parag-parikh-long-term-equity-growth--PP001ZG-GR\">Parag Parikh Long Term Equity<\/a><\/td>\n<td>1.3%<\/td>\n<td>19.6%<\/td>\n<td>12.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/axis-bluechip-growth--AXEFDG-GR\">Axis Bluechip<\/a><\/td>\n<td>-0.2%<\/td>\n<td>5.9%<\/td>\n<td>10.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/franklin-india-feeder-franklin-us-opportunities-growth--FR496-GR\">Franklin\u00a0 US Opp&#8230;<\/a><\/td>\n<td>2.1%<\/td>\n<td>40.5%<\/td>\n<td>25.9%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/icici-prudential-us-bluechip-equity-growth--8133-GR\">ICICI Pru US Bluechip Equity<\/a><\/td>\n<td>-0.9%<\/td>\n<td>21.1%<\/td>\n<td>17.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Top_ELSS_funds\"><\/span><strong>Top ELSS funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/quant-tax-growth--QUTPDG-GR\">Quant Tax<\/a><\/td>\n<td>4.9%<\/td>\n<td>17.6%<\/td>\n<td>6.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/parag-parikh-tax-saver-growth--PPTSFGZ-GR\">Parag Parikh Tax Saver<\/a><\/td>\n<td>1.9%<\/td>\n<td>15.6%<\/td>\n<td>NA<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/iti-long-term-equity-growth--ITELG1-GR\">ITI Long Term Equity<\/a><\/td>\n<td>1.2%<\/td>\n<td>NA<\/td>\n<td>NA<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/quantum-tax-saving-growth--QMFTS-GR\">Quantum Tax Saving<\/a><\/td>\n<td>0.9%<\/td>\n<td>-9.3%<\/td>\n<td>-2.2%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/app.kuvera.in\/explore\/axis-long-term-equity-growth--TSDG-GR\">Axis Long Term Equity<\/a><\/td>\n<td>0.7%<\/td>\n<td>2.9%<\/td>\n<td>6.1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Most_Watchlisted_Stocks\"><\/span><strong>Most Watchlisted Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Top 5 stocks added to\u00a0<a href=\"https:\/\/app.kuvera.in\/explore\/stocks\/c\/watchlist\" target=\"_blank\" rel=\"noopener noreferrer\">watchlist<\/a>\u00a0by Kuverians<\/p>\n<table style=\"height: 163px;\" width=\"454\">\n<tbody>\n<tr>\n<td width=\"308\"><strong>Name<\/strong><\/td>\n<td width=\"91\"><strong>1W<\/strong><\/td>\n<td width=\"95\"><strong>1Y<\/strong><\/td>\n<td width=\"90\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/admin2.kuvera.in\/explore\/stocks\/l\/reliance-industries-ltd\">Reliance Industries<\/a><\/td>\n<td width=\"91\">-3.7%<\/td>\n<td width=\"95\">77.2%<\/td>\n<td width=\"90\">36.8%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/admin2.kuvera.in\/explore\/stocks\/l\/hdfc-bank-ltd\">HDFC Bank<\/a><\/td>\n<td width=\"91\">-7.7%<\/td>\n<td width=\"95\">-8.3%<\/td>\n<td width=\"90\">5.0%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/admin2.kuvera.in\/explore\/stocks\/l\/infosys-ltd\">Infosys<\/a><\/td>\n<td width=\"91\">4.7%<\/td>\n<td width=\"95\">21.7%<\/td>\n<td width=\"90\">24.1%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/admin2.kuvera.in\/explore\/stocks\/l\/tata-consultancy-services-ltd\">Tata Consultancy Services<\/a><\/td>\n<td width=\"91\">5.8%<\/td>\n<td width=\"95\">3.4%<\/td>\n<td width=\"90\">22.3%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/admin2.kuvera.in\/explore\/stocks\/l\/itc-ltd\">ITC<\/a><\/td>\n<td width=\"91\">-2.7%<\/td>\n<td width=\"95\">-28.2%<\/td>\n<td width=\"90\">-12.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Announcement\"><\/span><b>Announcement<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>1\/ <\/b><a href=\"https:\/\/kuvera.in\/explore\/amc\/edelweiss\"><b>Edelweiss Mutual Fund<\/b><\/a><span style=\"font-weight: 400;\"> has appointed Prannav Shah as Head &#8211; Compliance and key personnel of Edelweiss Asset Management Limited, effective from 31 July 2020.<\/span><\/p>\n<p><b>2\/ <\/b><a href=\"https:\/\/kuvera.in\/explore\/amc\/sundaram\"><b>Sundaram Mutual Fund<\/b><\/a> <span style=\"font-weight: 400;\">has announced a change in <\/span><a href=\"https:\/\/www.sundarammutual.com\/uploaddir\/Addenda\/Addenda_240720092246_Re-allocation_of_responsibilities_of_Fund_Manager.pdf\"><span style=\"font-weight: 400;\">fund management responsibilities<\/span><\/a><span style=\"font-weight: 400;\"> of relevant schemes.<\/span><\/p>\n<p><strong>3\/<\/strong> <b>Taurus AMC settled a case with SEBI by paying Rs 1.94 crore as settlement charges. <\/b><span style=\"font-weight: 400;\">The case was pertaining to the default of debt obligations by Ballarpur Industries Limited (BILT), further to which four schemes of Taurus MF witnessed a single day dip of 7-11% in February 2017. The case has been settled by the AMC without any admission or denial of allegations.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Quote_of_the_week\"><\/span><strong>Quote of the week:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<blockquote><p>&nbsp;<\/p>\n<div class=\"css-1dbjc4n r-156q2ks\">\n<div class=\"css-901oao r-hkyrab r-1qd0xha r-1blvdjr r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0\" dir=\"auto\" lang=\"en\">\n<p>If you are offered a seat on a rocket ship,<br \/>\ndo not ask what seat!<\/p>\n<p>Just get on.<\/p>\n<p>:\u200aSheryl Sandberg<\/p>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Interested_in_how_we_think_about_the_markets\"><\/span>Interested in how we think about the markets?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Read more:\u00a0<a href=\"https:\/\/kuvera.in\/blog\/category\/zen-and-the-art-of-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Zen And The Art Of Investing<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>Watch\/hear on YouTube:<\/p>\n<p><iframe loading=\"lazy\" title=\"Kuvera Insights: &#039;Taking the Entrepreneurial Plunge&#039; by Gaurav Rastogi at #WiTSpark\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/PlhRRvuC7ic?start=122&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit\u00a0<a href=\"https:\/\/www.kuvera.in\/\"><strong>kuvera.in<\/strong><\/a>\u00a0to discover\u00a0<a href=\"https:\/\/kuvera.in\/blog\/direct-plans-better\/\"><strong>Direct Plans<\/strong><\/a> and\u00a0<a href=\"https:\/\/kuvera.in\/user\/login\"><strong>start investing today.<\/strong><\/a><\/p>\n<p>#MutualFundSahiHai, #KuveraSabseSahiHai!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you haven&#8217;t been sold a moving average momentum strategy, you will be sold one soon. It is the simplest momentum-based quantitative strategy and the backtest can be set up easily in excel &#8211; thus its widespread availability. What is it? A simple moving average strategy comprises two signals: 1\/ A short-term moving average \u2013 [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/moving-average-momentum-entrepreneurship-and-more\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":11,"featured_media":5085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[173],"tags":[209,359,279,167,259,83,36,225,11,66,387,280,281,154,212,360,226,249,274,229,213],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Moving Average Momentum, Entrepreneurship, and more! - Kuvera<\/title>\n<meta name=\"description\" content=\"Moving averages are the easiest momentum strategy to backtest. That does not mean they will work in the future as well. 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