Abu Dhabi National Insurance Co PJSC (ADX:ADNIC) Momentum Rank : 0 (As of Jun. 05, 2024)

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What is Abu Dhabi National Insurance Co PJSC Momentum Rank?

Abu Dhabi National Insurance Co PJSC has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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Abu Dhabi National Insurance Co PJSC (ADX:ADNIC) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Abu Dhabi National Insurance Co PJSC (ADX:ADNIC) » Definitions » Momentum Rank

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Traded in Other Exchanges

N/A

Address

Khalifa Street, P.O. Box 839, ADNIC Building No. 403, Abu Dhabi, ARE

Website

https://www.adnic.ae

Abu Dhabi National Insurance Co PJSC is an insurance company providing insurance services to individuals and corporates. It provides life and non-life insurance and a range of customizable and scalable insurance products and services. The company operates its business in two segments: The Underwriting of commercial lines of business incorporates all classes of general insurance including marine cargo, marine hull, aviation, energy, property, and engineering; and The Underwriting of a consumer line of business incorporates all classes of insurance including accident, motor, life, and medical. The company generates the maximum of its premiums from the commercial segment.

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