Time trends and persistence of the return difference between growth and value investment strategies.

PLoS One · 2025 · PMC12456820 · PMID 40986528

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a significant trendno p-value reported

[ 25 ] concluded that growth and value-based investment strategies experienced a significant trend change after the COVID-19 pandemic.

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a strong trendno p-value reported

In other words, the return difference has a strong trend component, and any shocks or changes can have a lasting impact, making it difficult for the series to revert to a previous trend or level without significant intervention.

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Quoted from the open-access full text in Europe PMC under the licence the publisher applied. The sentence is reproduced exactly as published; the emphasis is ours.