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GreenHy2 (ASX:H2G) Momentum Rank : 0 (As of Jun. 05, 2024)


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What is GreenHy2 Momentum Rank?

GreenHy2 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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GreenHy2 (ASX:H2G) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » GreenHy2 Ltd (ASX:H2G) » Definitions » Momentum Rank
Comparable Companies
ASX:CMX ASX:ZMM ASX:FOS ASX:EGY ASX:RFT SZSE:300750 XSWX:ABBN HAM:OSR VRT TSE:6503 XPAR:LR BKK:DELTA HUBB SZSE:300124 SZSE:300274 MIL:PRY SHSE:603195 BOM:517354 NVT XKRX:247540
Traded in Other Exchanges
N/A
Address
680 George Street, Level 12, Sydney, NSW, AUS, 2000
Website
https://www.greenhy2.com.au
GreenHy2 Ltd is an investment holding company. The company's operating segment includes Asset maintenance and service and Construction and electrical project work. It generates maximum revenue from Asset maintenance and service.

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