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Columbine Alpha

The Columbine Alpha Factor provides an objective view of each stock’s price behavior.

We first published Columbine Alpha Factor rankings in 1979. We have added some refinements to the model since then, but the basic methodology is unchanged. This gives us one of the longest research track records in the industry.

Based on a proprietary quantitative process, a stock’s Columbine Alpha Factor ranking represents an objective measure of that issue’s current price momentum, adjusted for recent beta and past volatility. Simple relative strength measures attempt to identify persistent price momentum, but are prone to false signals. Columbine Alpha’s more discriminating methodology leads to superior predictive power. Columbine Alpha Factor forecasts are predictive out as far as two years in the future.

The Columbine Alpha Factor complements, but does not duplicate the characteristics of other forms of analysis. We recommend using the Columbine Alpha Factor as an adjunct, or overlay, to more conventional security analysis. Our research (and our clients' experience) amply demonstrates the synergistic benefits – improved return and reduced portfolio risk – of adding Columbine Alpha price momentum to fundamental analysis.

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