Markets have remained volatile year to date. The SPDR S&P 500 ETF remains down approximately 17 per cent since reaching its record high on Jan. 11, 2022, and is up only about 3 per cent year to date. The S&P 500 volatility index , a popular measure of the S&P 500’s expected annualized change over the next 30 days, remains elevated above 20 at the time of this writing, but down from a peak of 30 last week.
Two management effectiveness metrics that are of great importance to us are return on capital and return on equity . Return on capital measures how a company generates earnings relative to the capital invested in its business. We set the minimum ROC at 20 per cent. Return on equity measures how effective management has used invested capital to generate income. We like ROE to be at least 30 per cent.
In order to find stocks that are trending higher relative to the broad market, the stock price had to be at least 50 per cent above its 52-week low and within 15 per cent of its 52-week high.
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