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CIL Nova Petrochemicals (BOM:533407) Momentum Rank : 0 (As of May. 06, 2024)


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What is CIL Nova Petrochemicals Momentum Rank?

CIL Nova Petrochemicals 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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CIL Nova Petrochemicals (BOM:533407) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » CIL Nova Petrochemicals Ltd (BOM:533407) » Definitions » Momentum Rank
Comparable Companies
BOM:539277 BOM:532621 BOM:505523 BOM:526179 BOM:507910 BOM:531952 BOM:521246 BOM:509196 BOM:533941 BOM:521240 HKSE:02313 SHSE:600346 SZSE:000301 IST:SASA TSE:3402 TPE:1402 SHSE:601233 BOM:532889 SHSE:600295 AIN
Traded in Other Exchanges
N/A
Address
Shivranjani Cross Roads, Chiripal House, Satellite, Ahmedabad, GJ, IND, 380015
Website
https://www.cnpcl.com
CIL Nova Petrochemicals Ltd is a man-made fibre manufacturing company based in India. The company is engaged in the preparation and spinning of man-made fibre. In addition, it also includes blended manmade fibres and others. It offers products like Partially Oriented Yarn, Micro-Filament Yarn, Draw Twisted Yarn, Texturised Yarns and Fully Drawn Yarns.

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