YWR: Global Factor Model

Here are the latest global factor model rankings as of January 17th.

There are still many Turkish stocks at the top of the list, but filtering out Turkey, we see lots of steel companies (Nippon Steel), banks (Europe and Japan), and car companies (BMW, Mercedes, Yamaha) showing positive earnings momentum (analysts increasing their estimates for 2023 and 2024).

Also seeing refineries and airlines (Singapore Airlines) moving up the ranks.

Estimate revisions on large cap US tech rank poorly globally.

As a reminder the YWR Global Factor Ranking model ranks global stocks on the combination of earnings momentum, valuation and price momentum. We are looking for a combination of positive earnings momentum with value.

The price momentum score is not weighted heavily, but is more of a data check that traders are verifying what we see in the data. We like to see that the stocks are starting to outperform.