This February, keep a close eye on the “big movers”:
Notable Movers to the Upside:
- Japan… Improved by 9 spots from 14th to 5th overall. Their biggest move came in terms of their momentum score where they have the highest price momentum over the last 3 and 6 months in local currency. The MSCI Japan Index is up 27.4% over the last 3 months, more than double any other country in our model.
Notable Movers to the Downside:
- India… Fell 4 spots from 3rd to 7th overall. Slightly deteriorating fundamentals, increasing risk, and decelerating momentum all combined to move India lower. India still has a solid profile and is just on the outside of the top 5.
- Thailand… Fell 1 spot from 5th to 6th after a big drop in their risk ranking. Compared to last month Thailand showed increasing financial risk as well as less attractive currency valuations.
The model is currently overweight risk factors by 2%, neutral valuation factors, and underweight momentum and fundamental factors by 1% each.