Malath Cooperative Insurance Co (SAU:8020) Momentum Rank : 0 (As of May. 28, 2024)

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What is Malath Cooperative Insurance Co Momentum Rank?

Malath Cooperative Insurance Co 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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Malath Cooperative Insurance Co (SAU:8020) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

Mohammad Bin Abdelaziz Street, P.O. Box 99763, Riyadh, SAU, 11625

Website

https://www.malath.com.sa

Malath Cooperative Insurance Co is engaged in providing insurance and related services products. Its insurance products and reportable segment include Medical, Motor, Fire and burglary, Marine, Public liability, Engineering, General accident and others. Geographically, the group operates only in the Kingdom of Saudi Arabia, and derives prime revenue from the Medical insurance segment. Medical insurance provides health care cover to policyholders. The company offers insurance services to individuals, corporates, and small and medium enterprises.

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