Is the stock market pricing in a V-shaped recovery? https://www.banqueducanada.ca/?p=214586 High Minus Low (HML) portfolio Market portfolio Lowest BE/ME Low Middle High Highest BE/ME 100.000000000100.000000000 100.64000000099.650000000 100.68025600098.533920000 100.63998390095.203473500 99.91537601092.261686170 98.65644228091.781925400 98.79456129087.908728150 98.02396372087.223040070 97.59265828090.982353100 96.98758380088.443945450 95.94011789091.999392060 94.69289636088.889812600 93.41454226087.307573940 89.02405877080.506313930 89.68283681084.322313210 88.88465956080.064036390 87.72915898072.353869690 90.42244416078.836776410 89.70810686069.376363240 88.79308417073.448755770 84.60205059069.365004940 85.35500884070.273686510 84.51852976067.357328520 81.66180345065.632980910 83.67068382071.763101330 85.29389508072.609905920 86.25771610076.981022260 85.63666054074.309780790 83.76978134076.657969860 83.40957128075.554095090 82.21681441072.146605400 81.97838565073.661684120 81.06022773072.453632500 81.23856023077.576104320 83.05018012077.490770600 84.12983247080.125456800 86.77150921081.407464110 84.68031583080.658515440 82.02982195083.094402610 80.01188833081.307872950 77.62753406081.811981760 79.62256168084.045448870 78.81041155082.734339860 78.83405468080.186122200 77.57270980082.038421620 78.02263152082.145071570 77.95241115083.327960600 80.08830721084.769534310 82.40285929084.396548360 84.08387762086.860927580 82.71331042085.835968630 81.87790598083.338141940 80.73161530083.779834100 79.15734880084.575742520 76.98843744084.135948660 77.30409004085.254956780 79.22123147086.874800950 76.29796803086.935613320 75.26031566085.144739680 73.61964078083.535504100 74.33375130084.487808850 73.41944616084.969389360 76.78939874087.722397570 75.72202609086.836401360 76.66855142088.399456580 77.02122676087.780660390 76.34343996088.017668170 79.87814123089.100285490 82.75375431090.472429880 80.73456271090.101492920 79.14409182090.633091730 79.53189787091.104383810 79.92955736091.842329320 82.03969768093.137306160 84.50909258092.820639320 86.79083808095.141155300 88.68287835096.463617360 86.94469393095.643676610 83.33648913095.098507660 80.80305986089.478185850 82.38679984090.632454450 82.04077528091.620348200 82.40995877093.324486680 80.77824158092.951188730 80.35011690093.127795990 79.85998119092.708720910 78.72596946093.366952830 78.28510403093.759094030 77.28305470091.311981680 77.66946997092.334675870 76.60539823090.090943250 77.98429540091.451316490 77.96869854092.896247290 82.38100.3079.2291.70109.14 97.7879.9287.5876.1682.28 80.5570.7880.6093.3798.36 81.8188.5770.93101.6968.87 82.7692.7575.30101.9874.72