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In advance: 4QTR23 <U/O> Matrix via Applied Indexation is currently available in multi-sheet format.


Featured Clean Tech thematic is derived from a combined Renewables/Diversified Industrials/Technology sector-themed overlay within Invesco’s publicly traded WilderHill Clean Energy subindustry benchmark proxy ETF (ticker PBW), utilizing the modularity of business segment operations embedded within company revenue lines to generate effective Tier-2: Alpha and Alpha-Beta screens.


>> PBW total return: 3-mos. -4.1%, 4Q23 -4.8%, CY23 -20.0%; 12-month performance dispersion +365.5%/-81.0% (010524).


>> PBW Fwd adj. PE=24.0 Beta=1.5 versus 23.7/1.5, 28.8/1.5 and 29.8/1.5 sequentially [40.0 limit; N/A totals 60.5% (v. 59.9%) based on portfolio weight and 60.8% of count (-0.2%), 11.1% on market capitalization (-0.7%); Large-cap 19.1% (+0.7%), Mid-cap 41.9% (-0.6%), Small-cap 39.0% (-0.1%)].


>> SPX 12-month Fwd PE=19.2/4Q23 v. 17.9/3Q23, 18.9/2Q23, 17.8/1Q23 (FactSet); CAPE 32.3 from 29.5/31.1/29.7, mean 17.1 (Shiller).


For portfolio management teams, <U/O> Matrix via Applied Indexation represents an opportunity to incorporate fundamentally-based research complements into adaptive cross-asset multi-factor portfolio strategies: 1) refined sector/industry/subindustry nomenclature and data analytics to improve peer group analytics and valuation (benchmark analysis), 2) relative value presentations across economic sectors and asset classes (ref. past-positive forward looking indicators), 3) methodology and ranged parameters to exploit performance dispersion within a designated index or benchmark proxy (volatility adds value) and 4) inclusion of ‘N/A’ PE reporting companies in nascent industries with emerging technologies (component members; universe constituents).


<U/O> Matrix via Applied Indexation segments include Wind, Solar, Fuel Cells, Smart Grid, Water, LED, Biofuel, Automotive, Natural Gas, Storage and Aviation plus further classifications detailing component member assignments based on corporate business segment operations (12 segments, 62 classifications, 265 single and multi-listed component members; n=74).


Please message direct with any questions or for product development considerations; spreadsheet downloads available for research libraries at b-platform Access tab (auto-generated password; PayPal hosted).


note: w/r/t past-positive forward looking indicators featured in <U/O> Matrix via Applied Indexation, a brief primer is provided online along with recent posts <U/O> Tutorial_5: Performance Dispersion (Meta), Data Refinement: Business Segment Operations (BSOs) and slideshow tutorial <U/O> Matrix - Establishing Predictive Value: Applied Indexation, Hierarchical Data Sets and Competitive Market Information.


#EnergyComplex #CleanEnergy #Renewables #Strategy #PortfolioManagement #PortfolioStrategies #CorporateFinance #BSOs #Analytics

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