Myer Holdings (ASX:MYR) Momentum Rank : 10 (As of Apr. 28, 2024)

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What is Myer Holdings Momentum Rank?

Myer Holdings has the Momentum Rank of 10.

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.

Competitive Comparison of Myer Holdings's Momentum Rank

For the Department Stores subindustry, Myer Holdings'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.

Myer Holdings's Momentum Rank Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Myer Holdings's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Myer Holdings's Momentum Rank falls into.

Myer Holdings Momentum Rank Related Terms

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Myer Holdings (ASX:MYR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Myer Holdings Ltd (ASX:MYR) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

30M:Germany

Address

1000 La Trobe Street, Level 7, Docklands, Melbourne, VIC, AUS, 3008

Website

https://www.myer.com.au

Myer is Australia's largest department store operator, with some 60 stores that are mostly spread across eastern states. Stores are generally located in areas of high foot traffic in major metropolitan shopping centers. Competitive advantages include a well-established brand and scale benefits from a relatively large revenue base. The brand is somewhat iconic among Australian domestic consumers. The group's loyalty programme has more than 4 million active members.

Myer Holdings (ASX:MYR) Headlines

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