vk.com/id446425943 |
Week Endnotes |
Russia |
|
Equities |
|
Most/Least Liked Stocks (MLLS)
We last refreshed our Most and Least liked stocks (MLLS) in Week Endnotes – Week #42; earnings season kicks off, AGRO added to ML, of 19 October.
Historical performance
Our RTS-hedged MLLS1 portfolio recovered (+0.4% WoW) after last week weakness. The Most Liked (ML) and the Least Liked (LL) baskets outperformed the broader market, both going up +2.0%. The driver of ML’s outperformance were SBER, GMKN and SIBN, while the LL basket went up as NVTK and EVR advanced over this week.
Figure 1: Most Liked, Least Liked and the RTS Index
40%
30% |
|
20% |
|
10% |
|
0% |
|
-10% |
|
-20% |
|
Jan'17 Apr'17 Jul'17 |
Oct'17 Jan'18 Apr'18 Jul'18 Oct'18 |
Most liked |
RTS Index Least liked |
Source: Bloomberg, VTB Capital Research
Figure 2: RTS-hedged MLLS performance
10%
5%
0%
-5%
Jan'17 Apr'17 Jul'17 Oct'17 Jan'18 Apr'18 Jul'18 Oct'18
Source: Bloomberg, VTB Capital Research
1 The RTS-hedged MLLS portfolio performance is the average of the performance of the basket consisting of Most and Least Liked stocks, as well as short and long RTS index positions for each ML and LL stock, respectively.
16 November 2018 |
11 |