Momentum as a factor (that measures stocks that have demonstrated the strongest upward price trend of the past year) had its largest underperformance for the year. Following encouraging COVID-19 vaccine news, investors rotated quickly out of the best performing stocks and into sectors such as value and small-cap which had suffered the most since the pandemic began.
Weekly Market Snapshots & Data
A Week in Perspective (11/16/20) | The Comeback of Value vs. Momentum