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Australian Zircon NL (ASX:AZCCA) Momentum Rank : 0 (As of Jun. 09, 2024)


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What is Australian Zircon NL Momentum Rank?

Australian Zircon NL 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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Australian Zircon NL (ASX:AZCCA) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Australian Zircon NL (ASX:AZCCA) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
Website
http://www.auzircon.com.au
Australian Zircon NL is incorporated in Australia and was founded in 1994. The Company is engaged in mineral sands exploration and mining business. The Company focuses on developing the WIM150 mineral sands project located in the Wimmera region of western Victoria. It also holds interest in the EL 5460 exploration tenement located in the Horsham region, Victoria.

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