The paper, "Momentum factor investing: Evidence and Evolution", provides a history of research on the momentum factor. It has expanded into many research areas, and all have shown strong momentum effects. Momentum is across all asset classes, all time periods, and all regions of the world, and is shown to come in many forms, both price-based and fundamentals-based. When considering these different approaches to momentum, it is clear that many are unique and not associated with the same fundamental drivers. Nevertheless, we can agree that momentum is closely tied to behavior through the slow reaction to news.
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