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Market Performance
Performance was mostly positive in January on an equal-weight basis. Brazil, Korea, and Canada had the strongest performance with prices rising by 11.7%, 11.3%, and 5.8%, respectively. India and Australia, the only markets to see prices fall, declined by 6.2% and 0.3%, respectively.
Long-Short Performance
Price Momentum (PMO) delivered the strongest breadth with positive top-bottom decile spreads across all regions, led by Canada, China, and Emerging Markets. Combined Alpha Model (CAM) also posted positive spreads across all regions except for Korea.
Long-Only Performance
Most regions saw positive top-decile performance across all models, excluding India. Relative to the equal-weight benchmark, Price Momentum exhibited the strongest breadth. Canada and Emerging Markets saw outperformance across all models.
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