StarMine Monthly Performance Report – September 2025

Market Performance

Performance was positive across all regions in September on an equal-weight basis.  Canada, Korea, and Emerging Markets. had the strongest performance with prices rising by 9.5%, 6.1%, and 3.0% respectively. Japan and Developed Europe saw prices rise by 0.5% and 0.8% respectively.

Long-Short Performance

Momentum saw the greatest breadth, with Analyst Revision Model (ARM) delivering positive top-bottom decile spreads across all regions and countries, followed by Prime Momentum (PMO), which was positive everywhere except India.  On a regional basis, Singapore delivered positive spreads and information coefficients above 0.07 across all models.

In the U.S. market, the rally in small-cap stocks — particularly among bottom-decile Health Care names — drove negative decile spreads in Relative Value (RV), Value-Momentum (Val-Mo), Short Interest, and Combined Alpha Model (CAM).

Long-Only Performance

Most regions saw strong top-decile performance across all models. Canada stood out, with PMO returning +23.5%, ARM +15.8%, and CAM, Val-Mo, and Smart Holdings each delivering +11.8%.

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