Index Update 23.05.2015

MOMENTUM

We run our proprietary momentum scoring algorithm on indices just like we do on stocks. You can use the momentum scores of sub-indices to get a sense for which sectors have the wind on their backs and those that are facing headwinds.

Traders can pick their longs in sectors with high short-term momentum and their shorts in sectors with low momentum. Investors can use the longer lookback scores to position themselves using our re-factored index Themes.

You can see how the momentum algorithm has performed on individual stocks here.

Here are the best and the worst sub-indices:

Refactored Index Performance

50-day performance, from March 10, 2015 through May 22, 2015:

Equally Weighted		Market Cap. Weighted
CNX FMCG (EQUAL)	+0.18%	CPSE INDEX (CAP)	+0.65%
CNX CONSUMPTION (EQUAL)	-0.18%	CNX ENERGY (CAP)	+0.62%
CNX MNC (EQUAL)	-0.51%	CNX COMMODITIES (CAP)	+0.18%
CPSE INDEX (EQUAL)	-1.30%	LIX15 Midcap (CAP)	-0.22%
CNX AUTO (EQUAL)	-1.93%	CNX CONSUMPTION (CAP)	-0.47%
NI15 (EQUAL)	-2.68%	CNX AUTO (CAP)	-0.77%
CNX PSE (EQUAL)	-2.78%	CNX METAL (CAP)	-1.07%
NV20 (EQUAL)	-2.94%	CNX PSE (CAP)	-2.09%
CNX ENERGY (EQUAL)	-3.00%	NV20 (CAP)	-2.62%
CNX COMMODITIES (EQUAL)	-3.22%	CNX MNC (CAP)	-2.65%
LIX15 Midcap (EQUAL)	-3.32%	CNX INFRA (CAP)	-2.72%
CNX INFRA (EQUAL)	-3.69%	CNX FMCG (CAP)	-2.89%
CNX BANK (EQUAL)	-3.93%	NI15 (CAP)	-3.22%
CNX MEDIA (EQUAL)	-4.54%	LIX 15 (CAP)	-3.28%
CNX SERVICE (EQUAL)	-4.60%	CNX BANK (CAP)	-3.29%
LIX 15 (EQUAL)	-5.32%	CNX SERVICE (CAP)	-3.78%
CNX FINANCE (EQUAL)	-6.11%	CNX FINANCE (CAP)	-3.85%
CNX IT (EQUAL)	-7.33%	CNX PSU BANK (CAP)	-5.10%
CNX PSU BANK (EQUAL)	-7.73%	CNX IT (CAP)	-5.34%
CNX REALTY (EQUAL)	-8.10%	CNX PHARMA (CAP)	-5.88%
CNX METAL (EQUAL)	-8.64%	CNX MEDIA (CAP)	-5.88%
CNX PHARMA (EQUAL)	-9.85%	CNX REALTY (CAP)	-9.30%

Trend Model Summary

Index	Signal	% From Peak	Day of Peak
CNX AUTO	SHORT	5.69	2015-Jan-27
CNX BANK	SHORT	10.32	2015-Jan-27
CNX ENERGY	SHORT	29.07	2008-Jan-14
CNX FMCG	SHORT	9.54	2015-Feb-25
CNX INFRA	SHORT	49.37	2008-Jan-09
CNX IT	SHORT	87.72	2000-Feb-21
CNX MEDIA	SHORT	29.01	2008-Jan-04
CNX METAL	SHORT	56.14	2008-Jan-04
CNX MNC	SHORT	3.97	2015-Mar-12
CNX NIFTY	SHORT	5.97	2015-Mar-03
CNX PHARMA	SHORT	8.25	2015-Apr-08
CNX PSE	SHORT	26.16	2008-Jan-04
CNX REALTY	SHORT	89.23	2008-Jan-14

Pharma and banks seem to be perking up.
And boy-oh-boy! MNCs have more or less covered their draw-down.