Emerging markets: Is the trend still your friend?
Using an extensive sample consisting of 30 emerging countries and 38 years of data, we examine the profitability of two momentum and two trend following strategies. Over the entire sample, we find excess returns that are economically and statistically significant for all four strategies.
Johnson, Robert; Conover, C. Mitchell; Jensen, Gerald R.; and Szakmary, Andrew C., "Emerging markets: Is the trend still your friend?" (2016). Faculty Publications. 563.