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Velox Energy Materials (TSXV:VLX) Momentum Rank : 0 (As of May. 24, 2024)


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What is Velox Energy Materials Momentum Rank?

Velox Energy Materials 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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Velox Energy Materials (TSXV:VLX) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Velox Energy Materials Inc (TSXV:VLX) » Definitions » Momentum Rank
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Traded in Other Exchanges
CUIRF:USA
Address
401 Bay Street, P.O. BOX 4, Suite 2704, Toronto, ON, CAN, M5H 2Y4
Website
https://www.veloxenergymaterials.com.au
Velox Energy Materials Inc is an exploration and development company. It has focused on energy materials solutions for the global transition to net zero. The company's immediate focus is the North Queensland Vanadium Project in Queensland, Australia, Kotai Hydrogen project and Mineral Resources and Ore Reserves.

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