Cia Paranaense De Energia Copel (Cia Paranaense De Energia Copel) Momentum Rank : 0 (As of Jun. 06, 2024)

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What is Cia Paranaense De Energia Copel Momentum Rank?

Cia Paranaense De Energia Copel 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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Cia Paranaense De Energia Copel (Cia Paranaense De Energia Copel) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Cia Paranaense De Energia Copel (NYSE:ELPC) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

ELP:USA XCOP:Spain ELPA:Germany CPLE6:Brazil CPLE5:Brazil CPLE3:Brazil

Address

Rua Jose Izidoro Biazetto, 158, Bloco A, Mossungue, Curitiba, PR, BRA, 81200-240

Website

https://www.copel.com

Cia Paranaense De Energia Copel is primarily involved in the production of power in the Brazilian state of Parana. Specifically, the company's operating segments include power generation and transmission, gas, power distribution, power sale, and Holding and Services. Most of the company's revenue is derived from the sale of electricity. It generates electricity through renewable energy sources such as hydroelectric, wind plants, and thermoelectric plants. The company was designed to allow Parana to manage the distribution of power and related services, so the state is a major shareholder.