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Wescan Energy (TSXV:WCE) Momentum Rank : 0 (As of May. 26, 2024)


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What is Wescan Energy Momentum Rank?

Wescan 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.

Wescan Energy Momentum Rank Related Terms

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Wescan Energy (TSXV:WCE) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Wescan Energy Corp (TSXV:WCE) » Definitions » Momentum Rank
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Traded in Other Exchanges
GPIPF:USA
Address
520 - 5th Avenue SW, Suite 2500, Calgary, AB, CAN, T2P 3R5
Website
https://www.wescanenergycorp.com
Wescan Energy Corp is in the business of oil and gas exploration, development and production with oil and gas operations and property interests in Alberta, Canada and Texas, U.S.A. It operates in a single reporting segment which is Oil and Gas Exploration and Production.
Executives
Shubham Garg Director

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