It seems like it has been a long time since the Relative Strength Leaders outperformed the Laggards. Since the market low in March, stocks with poor RS rankings have dramatically outperformed the stocks with high RS rankings. Today that was not the case. The RS leaders outperformed the laggards by a wide margin. If you are implementing a high RS strategy you most likely outperformed the broad market today.
Today’s performance by RS decile stacks up as follows (note, CNB was +50% today and skews the results of the bottom decile):
|
Decile |
Avg Perf |
Perf ex CNB |
|
Bottom |
-3.61% |
-4.41% |
|
1 |
-4.16% |
-4.16% |
|
2 |
-4.18% |
-4.18% |
|
3 |
-3.13% |
-3.13% |
|
4 |
-2.32% |
-2.32% |
|
5 |
-2.21% |
-2.21% |
|
6 |
-1.61% |
-1.61% |
|
7 |
-1.54% |
-1.54% |
|
8 |
-1.18% |
-1.18% |
|
Top |
-0.16% |
-0.16% |
