Principle. System. Decision.
A clear separation between thinking, system, and application.
The System
Alpha360 is our internal system for assessing companies in the context of current market conditions. It evaluates the global equity universe across eight distinct dimensions.
Markets do not reward the same things all the time. Leadership rotates. What works in one period often stops working in the next.
Alpha360 accounts for this by adjusting how different company characteristics influence its assessments as market conditions change. When the market is rewarding certain traits, those traits matter more. When they fall out of favour, they matter less.
System Output
The Jones Dynamic Score is the primary output of Alpha360. It expresses how well a company is positioned relative to current market conditions.
It is a percentile ranking, not a standalone prediction or target. Each stock is assigned a score from 1 to 99.
How the Score is Constructed
Every company is assessed across eight dimensions simultaneously. The weight each dimension carries shifts as market conditions shift. The result is a score profile that is unique to each company at each point in time.
The visualisation below cycles through real company profiles. The shape of the score and the stock's position in the universe ranking change together.
How the Score Changes Over Time
Alpha360 continuously reassesses companies in relation to one another. Because the score is relative, changes reflect shifts in a company's position within the peer group, not fixed or permanent labels.
A company's score can rise or fall even if its underlying characteristics appear unchanged. The score reflects relative relationships at a point in time, not absolute measures taken in isolation.
Score changes should be interpreted as signals of relative shift, not as confirmation of improvement or deterioration in isolation.
The shape of a company's score profile is never static. It adapts as conditions change, as peer performance shifts, and as the market redefines what it rewards.
The Jones Dynamic Score is used as one input within our broader research process. It provides quantitative context, which is then interpreted through qualitative analysis in The Jones Report.
The score is not used in isolation to make investment decisions. It is combined with human judgement, sector context, and portfolio-level considerations.
The score represents a company's current relative positioning. It is a percentile ranking that changes as conditions evolve.
It does not represent a price target, a forecast, a guarantee, or a standalone recommendation.
Alpha360 is built on principles developed through decades of academic research by Professor Stewart Jones at the University of Sydney. The system operationalises relative assessment as a more robust framework than fixed, absolute measures.