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BitMine Immersion Technologies (BitMine Immersion Technologies) Momentum Rank : 6 (As of May. 22, 2024)


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What is BitMine Immersion Technologies Momentum Rank?

BitMine Immersion Technologies has the Momentum Rank of 6.

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.


Competitive Comparison of BitMine Immersion Technologies's Momentum Rank

For the Capital Markets subindustry, BitMine Immersion Technologies's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


BitMine Immersion Technologies's Momentum Rank Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, BitMine Immersion Technologies's Momentum Rank distribution charts can be found below:

* The bar in red indicates where BitMine Immersion Technologies's Momentum Rank falls into.



BitMine Immersion Technologies Momentum Rank Related Terms

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BitMine Immersion Technologies (BitMine Immersion Technologies) Business Description

Traded in Other Exchanges
N/A
Address
2030 Powers Ferry Road SE, Suite No. 212, Atlanta, GA, USA, 30339
BitMine Immersion Technologies Inc is a blockchain technology company that is building out industrial-scale digital asset mining, equipment sales, and hosting operations. The company's primary business is data center focused, both mining Bitcoin for its own account as well as hosting third-party Bitcoin mining servers.

BitMine Immersion Technologies (BitMine Immersion Technologies) Headlines

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