While sales and earnings estimates have been the most important factors over the longer-term...
Correlations of Treasury Bond yields, as well as cash levels, have risen in importance in the last week and month.
With respect to valuation metrics, the dominance of P/B and P/E over a longer time horizon has given way to increased relevance for dividend yield--especially over the last week:
Finally, the relative importance of earnings and sales growth has declined while cash as a percent of capital has become a more important factor in performance:
