StarMine Monthly Performance Report – October 2025

Market Performance

Performance was mixed in October on an equal-weight basis.  Korea, Japan, and Taiwan had the strongest performance with prices rising by 6.8%, 3.5%, and 3.1%, respectively. Canada and U.S. saw prices fall by 0.9% and 0.4%, respectively.

Long-Short Performance

Value saw the strongest breadth, with both Relative Value (RV) and Intrinsic Value (IV) delivering positive top-bottom decile spreads across most regions and countries. Earnings quality (EQ) exhibited the weakest breadth.

On a regional basis, Japan and Taiwan delivered positive spreads across all models.

Long-Only Performance

Most regions saw strong top-decile performance across all models. Korea was a clear standout on momentum, with the Analyst Revision Model (ARM) posting a +14.0% return and Price Momentum delivering +12.4%, both exceeding the equal-weight benchmark by 710 and 550 basis points, respectively.

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