Welcome To The Cornerstone Macro Portfolio Strategy Portal!

Our Strategy Portal is a complement to the team’s research product. The portal provides interactive, under-the hood analysis of what is driving market trends below the surface. In addition, the portal includes a myriad of “outside-the-box” risk-management and stock-selection tools for investors with any mandate.

If there’s something specific you’re looking for that’s not listed or if you have any questions or suggestions, please reach out to us at strategy@cormacteam.com. We love to hear feedback!

Dashboards

Risk Management Suite

Stock
Screens

Supplemental Tools

Investment Recommendations

Contact Us

Monitoring the Markets: Dashboards

Visit our live dashboards for an under-the-hood look at global markets and economic data.
Our Earnings Dashboard includes must-see tables and charts for investors throughout earning season. The EPS dashboard includes progress reports, EPS estimate data, sector and style breakdowns and more.

Our Factor Dashboard is an interactive website that allows you to look at sector-neutral factor performance from various perspectives. It provides daily updates to factor performance for several market indexes and for each individual sector. The dashboard also shows how factors interact with each other and how correlations amongst factors change over time.

The Portfolio Strategy Chartbook presents the latest performance data (updated daily) for size, style and sector universes to help investors easily see what is driving market performance within their mandate.

Our What to Watch dashboard allows clients to easily monitor a curated list of the macroeconomic and market series we are watching most closely.

Our Model Dashboard is an interactive tool that allows you to dig deep into our quantitative models. The tool allows you to interactively screen for stocks with specific rankings for a given model, see how stock rankings have changed over time, and understand the underlying reasons behind your stocks’ rankings. Ranking data is updated weekly and model performance is updated daily.

Our Dividend Portal tracks companies that have raised and cut dividends. The portal includes the Ability-to-Sustain screen which identifies stocks that are most at risk of cutting their dividends based on potential inability to cover payments with cash flow.

Click here to read our primer report.

The “What’s Priced In” dashboard tracks the performance of stocks most/least sensitive to various macro variables (i.e., PMIs, CPI, rates, etc.). It evaluates analysts’ 12-month price targets for those baskets of highly correlated stocks to determine what level is “Priced In” for the macro variables in 12 months.

Click here to read our primer report.

Our Global Dashboard tracks a whole host of economic and market data in major markets around the globe. Use this dashboard to track PMIs, earnings, style, sector and factor performance within individual countries and regions. It also contains up-to-date screens for our quantitative models in each country.

Click here to read our primer report.

The “Ownership” dashboard allows investors to monitor the performance of stocks that are most owned by different types of investors. Each chart looks at the top decile (150 stocks) from the S&P 1500 for each category of ownership, from various types of institutions to retail investors.

Click here to read our primer report.

Portfolio Risk Management Suite

Our Portfolio Risk Management Suite keeps investors abreast of the macro risks and exposures in their portfolios.
Our Macro Aware screener helps investors better understand the macro sensitives of their portfolios and interest lists. The tool calculates correlations of stocks, industries, and ETFs to over 60 macroeconomic variables. In addition, this excel-based tool includes factor and performance analytics.

Click Here For A Video Walk-Through

The Macro Margin Sensitivity Tool looks at how sensitive margins are to various macro variables. The tool calculates 5-year correlations of the year-over-year change in company operating margins to over 60 macroeconomic variables (i.e. CPI, PMIs, Rates, Etc.). As inflation pressures heat up, this tools helps identify which names are likely to see the most margin pressure and also those that are likely to see margins improve.

The Foreign Sales Barometer identifies stocks with high and low revenue exposure to foreign countries. This barometer allows investors to see how their portfolio’s foreign exposure compares to a chosen benchmark.

The Factor Screen is a screening tool that allows investors to identify the stocks that best embody various factor traits. The interactive tool allows investors to select a factor and see which stocks fall into each decile.

Click here to download the latest screen.

Quantitative Stock Screens

Our stock screens offer frequently updated lists of stock rankings to help navigate various equity investing themes.
The Macro Select portfolio is a model positioned to include the stocks we determine to have factor characteristics that are best poised to outperform in the prevailing economic backdrop. In today’s backdrop, the Macro Select Model is currently screening for stocks that will benefit from a backdrop of flat P/Es and strong earnings growth. We are screening for stocks with high Free Cash Flow Yield, high Earnings Growth, Positive Earnings Revisions, and a Beta near 1.

Click here to download the latest screen.

The Sell Model targets stocks most at risk of underperforming. It is a sector-neutral ranking system (i.e. sector neutral) with the goal of identifying stocks with the most red flags relative to their peer group. It targets asymmetric risk, which means that it helps to specifically identify underperformers, as opposed to simply flagging the worst-ranked stocks for a long model. The Sell Model has an impressive track record of isolating stocks that perform poorly.

Click here to read our primer report.

Click here to download the latest screen.

Value investors can look to the F-Score developed by Joseph Piotroski to identify stocks that are high or low quality within the Value universe. Coupling the F-Score with valuation is a way to identify potential value traps and identify high quality stocks with strong fundamentals.

Click here to read our primer report.

Click here to download the latest screen.

 

Growth investors can look to the G-Score developed by Partha Mohanram to identify stocks that are high or low quality within the Growth universe. This model is often thought of in a similar vein to Piotroski’s F-score model for the Value universe. Look to the G-score to highlight potential outperformers and also potential Growth torpedoes.

Click here to read our primer report.

Click here to download the latest screen.

 

Dividend investors can look to the Ability-to-Sustain ratio to reveal a company’s ability to maintain its dividend payouts in the future. Over time this factor has provided significant outperformance when compared to high dividend investing alone.

Click here to read our primer report.

Click here to download the latest screen.

The Market Cycle model is a rotational stock-selection model that transitions between baskets of stocks primed to outperform during the prevailing business cycle phase.

Click here to download the latest screen.

The Credit Model identifies potential changes in company credit ratings before they happen.

Click here to download the latest screen.

The Accounting Quality model evaluates earnings quality based on the conservatism of its reporting. The model is an amalgamation of six diverse metrics for measuring conservatism or aggressiveness in accounting.

Click here to read our primer report.

Click here to download the latest screen.

The All Seasons model targets stocks that are likely to perform well regardless of the economic backdrop. The model is based on the Market Cycle Model and it EXCLUDES stocks that are determined to be either highly risk-off or highly risk-on.

Click here to download the latest screen.

Supplemental Tools

Here you can find a selection of tools we’ve released that are event-specific or highly focused.
The Scenario Analysis tool allows investors to see how a variety of economic and market data performed before and after a wide variety of special events including historical peaks and troughs in the business cycle (ISM), inflation peaks and troughs, and Fed rate hikes and cuts. Additionally, custom analysis can be performed by entering your own dates.

Click here to download the tool.

PLEASE NOTE: This tool has MOVED to the Macro Aware tool in the Risk Management section above.
Our Field Guide to Macro & Markets offers a refresher on an assortment of investment topics, ranging from the basics of economic data to more advanced topics like portfolio construction and factor positioning around the business cycle.

Click here to check out the guide.

Our Field Guide to Factors offers a walkthrough to using factors in the investment process, from understanding the basics of factor portfolio composition to using factors to invest around the business cycle.

Click here to check out the guide.

Investment Outlook

Below you’ll find our latest investment outlook summary

As always, please feel free to reach out to us at strategy@cormacteam.com if you’re looking for something specific or have any research requests or general feedback for the Strategy team.  Thanks!

Michael Kantrowitz, CFA Stephen Gregory Emily Needell, CFA Joe Ramirez, CFA Dan Nivasch
(212) 257-4971 (212) 257-4972 (212) 257-4974 (212) 257-4975 (212) 257-4976
mkantrowitz@cormacteam.com sgregory@cormacteam.com eneedell@cormacteam.com jramirez@cormacteam.com dnivasch@cormacteam.com