The Japan Analytics App’s Heatmaps module divides the market’s 30 sectors into 328 ‘Peer Groups” based on the most recently disclosed segment data. This allows for a finer degree of aggregation and insight and is a useful intermediate step before individual stock analysis.
Some Peer Groups are small in terms of number of constituents and total market value. Peer Groups with a total market value of over ¥500b are highlighted. Scores are cap-weighted within each Peer Group.
As with Sector Scores, we shall review the trends for October in terms of Price Score, Volume Score and Results Score in 10 tables. For details of the Constituents of each Peer Group can be found in our App.
PRICE SCORE POSITIVE OUTLIERS
Peer Group Price Score outliers are amounts of over 3.5 and below -1.75.
Note the negative results momentum in Frozen Foods and Musical Instruments.
PRICE SCORE NEGATIVE OUTLIERS
The Glass peer group’s Results Scores do not ‘compute’ with its Price Score.
Note that we do not ‘score’ results for REITs.
PRICE SCORE 1 MONTH CHANGE ▲
The hottest peer groups include Employment & Staffing Services, Household Equipment and SPE. Note the negative Results Score for Online Payment Services.
PRICE SCORE 1 MONTH CHANGE ▼
The cooling peer groups include Retail – Eyewear, E-Commerce and PR.
VOLUME SCORE OUTLIERS
Outliers have values over 4.5. Overtraded peer groups include Passive Components and Coal, the latter being both Deep Value and having good Results Scores.
VOLUME SCORE 1 MONTH CHANGE ▲
Deep Value micro-cap territory.
RESULTS SCORE POSITIVE OUTLIERS
Results Score outliers are amounts over 17 and under -17. Tech hardware dominates the list, but note the Glass Peer Group’s low Price Score.
Securities Services reflects the current market uptrend.
Construction Machinery has the best medium-term results momentum.
RESULTS SCORE NEGATIVE OUTLIERS
A mixed bunch of laggards of which Tires is most notable.
RESULTS SCORE 1 MONTH CHANGE ▲
Some major swings out of the ‘red’, including Online Brokerage, IT-Financial and Shipping.
RESULTS SCORE 1 MONTH CHANGE ▼
Investment Banking and Investment Management Services, Real Estate – Leasing and Alternative Energy.
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