Relative strength is a calendar decision as much as a chart
Lookback windows change which sectors look like leaders — align the window with how often your committee actually reweights.
A three-month relative strength ranking and a twelve-month ranking will rarely produce the same top quartile. That is not a bug; it is a reminder that sector rotation analysis must match the tempo of your process.
Match window to governance
If your committee rebalances quarterly, a very short window can overfit noise. If you run an opportunistic sleeve that moves on leadership breaks, a longer window alone may be too slow. Many of our briefs show two windows side by side and state which one informs the discussion questions.
Durability notes
We annotate whether a sector’s leadership is fresh, extended, or fading relative to the windows you chose. The annotation is judgment, written in sentences, not a hidden score you cannot challenge in the working session.