Centrex (ASX:CXM) Momentum Rank : 0 (As of Jun. 04, 2024)

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What is Centrex Momentum Rank?

Centrex 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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Centrex (ASX:CXM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Centrex Ltd (ASX:CXM) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

44 Waymouth Street, Level 6, Adelaide, SA, AUS, 5000

Website

https://www.centrexlimited.com.au

Centrex Ltd is a mineral exploration company. The principal activity of the company is an exploration of the following areas: Phosphate project development in Queensland; Potash exploration over wholly-owned tenements in Western Australia; and gold and base metals exploration in New South Wales. Its projects include Ardmore Phosphate Rock Project, Oxley Potash Project, and Goulburn gold/base metals project. The company operates in one geographical segment; Australia.