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Tombador Iron (ASX:TI1) Momentum Rank : 0 (As of May. 17, 2024)


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What is Tombador Iron Momentum Rank?

Tombador Iron 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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Tombador Iron (ASX:TI1) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Tombador Iron Ltd (ASX:TI1) » Definitions » Momentum Rank
Comparable Companies
ASX:GWR ASX:EQX ASX:M4M ASX:PLG ASX:IRD ASX:BIS NUE XKRX:005490 BOM:500228 TSE:5401 XAMS:MT SHSE:600019 NSE:TATASTEEL STLD RS MIC:CHMF TPE:2002 BUE:TXAR JSE:KIO SZSE:000708
Traded in Other Exchanges
N/A
Address
85 Forrest Street, Suite 5, Cottesloe, WA, AUS, 6011
Website
https://www.tombadoriron.com
Tombador Iron Ltd is an iron ore mining company in Brazil. The company owns the Tombador iron ore project in Bahia State, Brazil. The company segment includes The Corporate segment in Australia (Tombador Iron Limited), The Corporate segment in Singapore e (Tombador Iron Singapore Pte Limited) and Tombador Iron Ore Project in Brazil.

Tombador Iron (ASX:TI1) Headlines

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