| market | size | relative value | liquidity | |
| Fama-French model (FFM) | Yes | Yes | Yes | |
| Pastor-Stambaugh (PS) model | Yes | Yes | Yes | Yes |
PS model:
ri - Rf = eM * (rM - Rf) + eS * (rS - Rf) + eV * (rV - Rf) + eL * (rL - Rf)
ri - Rf = eM * RPM + eS * RPS + eV * RPV + eL * RPL
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