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Risk criteria explanation

Hello,

I'm having trouble understanding some of the required risk criterias.
"Momentum: The difference in return between assets on an upswing and a downswing over 11 months" what does this mean?
"Value: The difference in returns between expensive and inexpensive assets (as measured by Price/Book ratio)" Is this relative to my portfolio?

Any help on explaining these would be great as they are the last criteria for the algo to pass...

Thank You!