Koyfin Factor Analysis

Mentioned about Koyfin last week and today decided to explore the tool further. You should really check it out if you haven’t done so. What I like most is the speed that it takes for a user like me to select any type of analysis I’m interested in (of course related to stocks, market etc). I just need a great internet connection.

Just checked out the Factor Analysis section. It’s cool. Here’s the screenshot.

koyfin2.PNG

You can tell easily how each factor performs in the last 1 day, 5 days, last month, QTD etc. They even computed for you the Z-score of the relative performance between each factor and S&P 500. For Small-Cap for example, the Z-score is 1.34 (see the chart above), which means, at 95th confidence interval, it has the potential to still go up further relative to the market as the Z-score has yet to reach 1.645. Caveat of this interpretation – relies on historical data albeit on statistical basis, and as we all know, past performance is not indicative of future results.

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