China Citic Bank (HKSE:00998) Momentum Rank : 9 (As of May. 06, 2024)

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What is China Citic Bank Momentum Rank?

China Citic Bank has the Momentum Rank of 9.

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.

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Competitive Comparison of China Citic Bank's Momentum Rank

For the Banks - Regional subindustry, China Citic Bank'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.

China Citic Bank's Momentum Rank Distribution in the Banks Industry

For the Banks industry and Financial Services sector, China Citic Bank's Momentum Rank distribution charts can be found below:

* The bar in red indicates where China Citic Bank's Momentum Rank falls into.

China Citic Bank Momentum Rank Related Terms

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China Citic Bank (HKSE:00998) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » China Citic Bank Corp Ltd (HKSE:00998) » Definitions » Momentum Rank

Traded in Other Exchanges

CHCJY:USA CHBJF:USA D7C:Germany D7C:Germany 601998:China

Address

10 Guanghua Road, 6-30/F and 32-42/F, Building No. 1, Chaoyang District, Beijing, CHN, 100020

Website

https://www.citicbank.com

As the second-largest joint-stock banks, China Citic Bank is headquartered in Beijing. It offers a full range of commercial banking services, with 1,410 outlets in 146 cities in China and branches in Hong Kong, Macau, New York, Los Angeles, and Singapore. As of 2022, the bank is the 9th-largest nationwide listed commercial bank in China in terms of total assets.

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