What Do We Learn from Daily Leaders and Laggards in Stock Investment? Do They Help Outperform the Market Average?

Doh-Khul Kim and Sung-Min Kim

International Journal of Economics and Finance, 2022, vol. 14, issue 2, 44

Abstract: Investors generally believe that rising stocks are more likely to maintain their trend and rise going forward, whereas the losing stocks look more price attractive. This belief can lead the investors to expect that they can outperform the average market by trading the stocks purely based on the price movements. However, this research finds that this simple trading strategy does not effectively outperform the market. Nonetheless, we find five sectors of rising stocks and three sectors of declining stocks that outperform the average market in this limited study.

Date: 2022
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