Transparent momentum screening for Indian markets

score = 12-1 return ÷ annualized volatility

1. 12-1 return:the stock's total return over the past 12 months, excluding the most recent month. The latest month is skipped because academic research finds short-term returns tend to reverse.
2. Annualized volatility: the standard deviation of daily returns over the past year, scaled to annual terms. Dividing by volatility penalizes stocks whose gains came with wild swings.
3. Ranking: every stock in the Nifty 500 with sufficient price history is scored the same way; the 20 highest scores are listed here. The list is recalculated monthly.

This is a mechanical calculation on historical prices. A high score describes past behaviour only — it says nothing about what the stock will do next. Details, evidence and limitations are on the methodology page.