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Blue Sky Energy (TSXV:BSI.H) Momentum Rank : 0 (As of May. 21, 2024)


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What is Blue Sky Energy Momentum Rank?

Blue Sky Energy 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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Blue Sky Energy (TSXV:BSI.H) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Blue Sky Energy Inc (TSXV:BSI.H) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
65 Queen Street West, Suite 805, 8th Floor, Toronto, ON, CAN, M5H 2M5
Website
https://www.blueskyenergy.ca
Blue Sky Energy Inc is an oil and gas exploration company focused on pursuing the exploration, evaluation, and development of resource assets. It is exploring opportunities in the domestic and international oil and gas sector with a focus on competitive and stable energy jurisdictions.

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