Price performance is a very poor guide, it may even be useless. Personally I “like” stocks going up slowly and smoothly over the medium term but by and large the past performance is no guide to tomorrow.
The same is true with value. Cheap value stocks cannot be predicted, only owned. The payoff doesn’t come predictably from one stock, but from a basket and then over time.
Whatever your investment style is, you must apply it to a basket or you will not reap the correct benefits of your investments. Buying value stocks, especially contrarian ones, has a history of success because cheap stocks are normally stocks people do not want to own for narrative reasons not quantitative ones. The market will pay you to put that straight. The market will not pay you to jump on the bandwagon so price performance is a very sketchy reason to buy a stock.