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From top-down beta management to bottom-up analyst sentiment – Markets in Focus


Learning: Unstructured

Global markets remained fearful of inflation and recession worries in the Q3 2022, with rising energy prices in Europe, partly driven by sanctions on Russia and supply constraints, adding to the woes. The pendulum swung far and wide on high-beta stocks, propelled by accelerated annual U.S. inflation for August. Our research indicates that managing exposure to beta has been critical during volatile market conditions.

Our experts discuss the performance of factors, sectors and industries and the historical performance of high- vs. low-beta stocks. They also define the analyst-sentiment factor, while assessing its relationship with other traditional equity style factors