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Carbine Resources (ASX:CRB) Momentum Rank : 0 (As of Jun. 14, 2024)


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What is Carbine Resources Momentum Rank?

Carbine Resources 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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Carbine Resources (ASX:CRB) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Carbine Resources Ltd (ASX:CRB) » Definitions » Momentum Rank
Comparable Companies
ASX:ACS ASX:JAV ASX:ALB ASX:PR1 ASX:RML ASX:C7A ASX:AHN ASX:ZMI ASX:CUL ASX:PIM ASX:BHP ASX:RIO LSE:RIO LSE:GLEN ASX:FMG BSP:VALE3 SAU:1211 GMEXICOB LSE:AAL BOM:500188
Traded in Other Exchanges
N/A
Address
513 Hay Street, Suite 23, Subiaco, Perth, WA, AUS, 6008
Website
https://www.carbineresources.com.au
Carbine Resources Ltd is engaged in mineral exploration and development in Australia. The Group has one reportable segment that is mineral exploration and evaluation. Its project includes Muchea West Silica Sands Project in Western Australia.

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