This month, European countries continue to move up in the model after a huge showing as the 11 hottest markets in the month of July. August also sees big moves from Russia, as it replaces India in the model and has the largest move on the month, now overweight across all of the strategies.
Notable Moves to the Upside
- Russia … moved up 7 spots from 10th to 3rd overall. They showed significant improvements in both their fundamental and momentum ranking. Additionally, they boast the model’s best valuation profile.
- United Kingdom … moved up 8 spots from 16th to 8thoverall. They showed improvements in their momentum and risk rankings. Their risk ranking is strengthened by a low CDS and standard deviation measures.
Notable Moves to the Downside
- Sweden … dropped 10 spots from 9th to 19th overall. Despite improving momentum, Sweden had significant drops in their fundamental and risk ranks.
- Brazil … fell 5 spots from 24th to 29th overall. Thy have the worst fundamental profile in the model, and their momentum is consistently negative over short and medium term measures.
For more on countries, strategies, and movement in the model, see our full Portfolio Notes: