PEAK - Amazon Domino's among additions to BofA's Alpha Surprise screen
BofA's quantamental Alpha Surprise Portfolio saw an equal number of addition and deletions for May. The portfolio return was +2.3% for the month, outperforming the S&P 500 (SP500) (SPY), which was flat, and the equal weight S&P 500 (RSP), +0.8% for the month. The list is based on an Alpha Surprise score that "is a 25%/75% weighted combination of the decile scores from two proprietary models, our Dividend Discount Model (the value or 'alpha' portion of the model) and our BofA vs. Consensus Forecast Earnings Surprise Model (the growth or 'surprise' portion of the model)," strategist Savita Subramanian wrote in a note. "A decile rank of 1 is most attractive, and a decile rank of 10 is least attractive." The portfolio is most overweight Communication Services (XLC), Materials (XLB) and Real Estate (XLRE). It is most underweight Industrials (XLI), Energy (XLE), and Consumer Staples (XLP). Alphabet (GOOG) (GOOGL) remains the stock spending the longest
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Amazon, Domino's among additions to BofA's Alpha Surprise screen