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Axiomatic Data Creates and Introduces ThriveScores
The Form 5500 series is a research, compliance, and disclosure tool for US employee benefit plans. The Department of Labor has mandated that a Form 5500 must be filed for welfare benefit plans by companies with more than 100 employees and for all retirement plans such as 401Ks.
FREMONT, CA: Axiomatic Data has announced the creation and release of ThriveScores to its database covering more than 650,000 US public and private companies. Utilizing information extracted from Form 5500 filings, Axiomatic Data has developed a scoring methodology that foretells corporate growth, or likelihood to thrive, across the majority of US companies. ThriveScores can be utilized as a measure of financial health for all US companies and also as an investment signal for US public companies.
The Form 5500 series is a research, compliance, and disclosure tool for US employee benefit plans. The Department of Labor has mandated that a Form 5500 must be filed for welfare benefit plans by companies with more than 100 employees and for all retirement plans such as 401Ks. Axiomatic Data aggregates, harmonizes as well as normalizes several million Form 5500 filings annually to create a robust, accurate database serving multiple use cases.
"Customers asked if we could make stock price performance and financial health predictions based upon changes in employment and corporate benefits reported in Form 5500 filings. ThriveScores do just that," stated Steve Goldstein, a partner at Axiomatic Data. "We've developed algorithms that capsulize these changes and deliver this information in ThriveScores."
"We analyzed the last 4 years of Axiomatic Data's ThriveScores and found that Russell 3000 companies with higher ThriveScores outperform companies with lower ThriveScores," stated Larry Green, President of SmartMarketData, LLC, an alternative data analytics firm. "The data was compelling, and we've published a white paper that summarizes our findings."
The ThriveScores algorithms incorporate changes in employment as well as employer contributions to employee benefit plans, among other attributes, from Form 5500.