FoxScore

Metric guide

Relative Strength (12M)

12M momentum relative to the benchmark

Standalone ranking availableFoxScore methodology
Plain-language summary

What this metric tells you

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.

Key takeaway

Absolute strength and relative strength are not the same. An asset can rise and still disappoint if its benchmark rose even more.

FoxScore context

How FoxScore uses it

  • FoxScore uses Relative Strength (12M) to identify leaders within a benchmark-relative frame, not just raw winners.
  • It is especially helpful for users who want to know whether an asset deserves attention versus its natural comparison group.
  • The metric works best when treated as a leadership filter, not a complete standalone verdict.

How to interpret this metric

What it measures

  • Whether the asset beat or lagged its benchmark on a momentum basis.
  • Which assets are not just rising, but leading their comparison set.
  • A competitive strength view rather than a standalone performance view.

How to read it

  • Positive values mean the asset outperformed its benchmark.
  • Negative values mean it lagged.
  • Values near zero mean the asset and benchmark behaved similarly over the measured window.

What can mislead

  • Whether the benchmark itself was in a strong or weak regime.
  • The benchmark choice itself is poorly understood.
  • You ignore absolute return and conclude that outperformance automatically means a great result.

Most useful when

  • You want to know whether an asset is truly leading rather than merely participating.
  • You compare assets that live inside the same broad benchmark environment.
  • You care about competitive strength, not only absolute gains.

Important limits

  • Whether the benchmark itself was in a strong or weak regime.
  • Whether the outperformance came with high volatility or drawdown.
  • Whether the present trend still confirms the historical outperformance window.
Methodology and sources

Technical definition, calculation notes and sources stay available here without dominating the explanation.

Description

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).

Calculation

  • ((1 + mom_asset) / (1 + mom_benchmark)) − 1

Interpretation

  • Higher is better (more outperformance versus the benchmark).
  • Negative values mean underperformance: the asset lagged the benchmark.

Metric ranking

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Related hubs

Continue into connected score and metric explanations.

  1. Scores

    Open related score explanations.

    Overall scorePerformanceStabilityTrend

  2. Metrics

    Open related metric explanations.

    Return 1 YearReturn (3y)Return (5y)Return (10y)Volatility (365d, annualized)Max Drawdown (365d)

Read together with

These related metrics add the context this metric cannot provide on its own.

Momentum (12–1 months)

Use Momentum (12–1 months) to see the asset’s absolute momentum behind the benchmark-relative signal.

Return 1 Year

Use Return 1 Year to see whether outperformance also came with a satisfying absolute payoff.

Trend Strength

Use Trend Strength to check whether the leadership also looks technically clean.