Metric guide
12M momentum relative to the benchmark
Relative Strength (12M) shows whether the asset outperformed or underperformed its benchmark over the trailing 12–1 momentum window. It is not just about going up, but about winning the race against a reference line.
Absolute strength and relative strength are not the same. An asset can rise and still disappoint if its benchmark rose even more.
Technical definition, calculation notes and sources stay available here without dominating the explanation.
Relative strength shows whether an asset performed better or worse than its benchmark over the last 12 months.
The benchmark value is the benchmark’s 12–1 momentum return (last month skipped).
Example: if an asset returns +10% and the benchmark returns +5%, relative strength is positive (outperformance).
Use the ranking after the explanation, not as a standalone investment signal.
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These related metrics add the context this metric cannot provide on its own.
Use Momentum (12–1 months) to see the asset’s absolute momentum behind the benchmark-relative signal.
Use Return 1 Year to see whether outperformance also came with a satisfying absolute payoff.
Use Trend Strength to check whether the leadership also looks technically clean.
