No. of Recommendations: 3
Oh... Darn darn darn darn darn.
I thought about it a little more.
It is always the case than H >= P and H >= L, therefore P >= L.
Ranking formula: P / ((H + L)/2)
or: P / M, where M is the midpoint between H and L
Simplifying to P/(H+L), the extremes are L == H and L == 0 (zero), since P will never be higher than H.
Since H always moves up when P moves up, the formula looks somewhat like H/(H+L), which looks like the factor L is the dominating factor.
In that case, maybe we could change the ranking formula to "P/L", which reads "how far the current price is above the 52 week low."
Running several different gtr1 backtests,
Summary:
L only and H+L have about the same CAGR. H+L has slightly lower GSD.
CAGR, 2003 to 2025
All 100 : 13.5% GSD 22%
Top 10: L only: 23% H+L: 22%
GSD T10: L only: 34% H+L: 28%
CAGR, 1990 to 2025
All 100 : 14.1% GSD 27%
Top 10: L only: 24% H+L: 26%
GSD T10: L only: 42% H+L: 34%
10-HTD-15 has about the same CAGR and GSD but with 3/4 lower turnover.
