Momentum is frequently referenced as a single idea, yet it encompasses a wide range of formulations. This article breaks down several common momentum constructions and examines how they differ in behavior and sensitivity.
Rather than comparing results, the analysis focuses on how each formulation responds to changing market conditions. We discuss why some variants appear smoother while others react more aggressively to price movement.
Understanding these distinctions is critical for researchers seeking to apply momentum thoughtfully rather than generically.







