Clear Spin-off Index
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average rating: 3.72 / 29 ratings
Created by Omid Malekan
DESCRIPTION:
Date updated:12-18-2006
This is an index designed to actively track stocks that are spin-offs from other companies, based on the idea that these companies can now better focus on their own specific strategy and unlock value.
As Stated on Clear Indexes website, the index is put together using the following methodology:
"The Index constituent selection model evaluates and selects stocks from a universe of recently spun-off companies using a proprietary, 100% rules-based methodology developed by Clear. The Index constituent selection methodology utilizes multi-factor proprietary selection rules to seek to identify those stocks that offer the greatest potential from a risk/return perspective while maintaining industry diversification. The Index is adjusted semi-annually to ensure timely stock selections. "
More specifically"
INDEX CONSTRUCTION
"-The Spin-Off Index comprises the 40 highest-ranking stocks chosen from the universe of spun-off companies.
-Each company is ranked using a 100% quantitative rules-based methodology that includes composite scoring of several growth-oriented, multi-factor filters, and is sorted from highest to lowest.
-The 40 highest-ranking stocks are chosen and given a modified market cap weighting with a maximum weight of 5%.
-The constituent selection process and portfolio rebalance is repeated semi-annually"
According to Clear, their index has outperformed the S&P 500 at a 10.75% annualized rate over the past 5 years.
For more information:
http://www.clearindexes.com/Indexes.aspx
-
AMP
Ameriprise Financ - $37.23
- -1.85%
- $37.62
The former financial planning and asset management arm of American Express
-
AIZ
Assurant Inc - $30.16
- -2.46%
- $31.06
Spun-ff on Febuary 4 2004 from Dutch financial services provider Fortis Group. Since then the stock has appreciated by 135%.
-
CCO
Clear Channl Outd - $9.38
- -1.26%
- $9.50
The out-door advertising arm of Clear Channel Communications, the company was spun-off in November of 2005. Since then the stock has appreciated by over 30% nove 2005 20 to 27
-
DISCA
Discovery Communi - $28.51
- +0.18%
- $N/A
Spun-off from Liberty Media with the stated reason of the parent company wanting to simplify its corporate structure. The company has two primary assets, a film production business and an owner/operator of several cable networks including the Discovery Channel. Since trading independently in July of 2005, the stock has appreciated about 13%.
-
EXPE
Expedia - $21.42
- +0.75%
- $21.29
A travel and leisure company spun-off from internet conglomerate Interactive Corp in July of 2005. Since then the stock has fallen over 15%, and at times been down by over 30%.
-
GNW
Genworth Financia - $13.51
- -2.45%
- $13.89
A spin-off of GEs life and mortgage buisiness, was the biggest IPO of 2004. Since it started trading publicly in May of that year the stock has appreciated 78%.
-
HSP
Hospira Inc - $48.76
- +0.41%
- $48.48
A drug and drug delivery company spun out of Abott Labs in 2004. Since its May 2004 IPO the stock has appreciated by over 40%.
-
LBTYA
Liberty Global - $24.15
- -0.62%
- $24.34
Another Liberty Media spin-off, this one a holder of international cable assets. Since its appearance in June of 2004, the stock has appreciated by over 50%.
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