Nitto Denko (TSE:6988) Momentum Rank : 10 (As of Apr. 27, 2024)

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What is Nitto Denko Momentum Rank?

Nitto Denko 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 Nitto Denko's Momentum Rank

For the Specialty Chemicals subindustry, Nitto Denko'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.

Nitto Denko's Momentum Rank Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Nitto Denko's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Nitto Denko's Momentum Rank falls into.

Nitto Denko Momentum Rank Related Terms

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Nitto Denko (TSE:6988) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Nitto Denko Corp (TSE:6988) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NDEKY:USA NDEKF:USA ND5:Germany

Address

4-20, Ofuka-Cho, 33rd Floor, Grand Front Osaka, Kita-Ku, Osaka, JPN, 530-0011

Website

http://www.nitto.com

Nitto Denko Corp manufactures and sells a variety of industrial and electronics products. The company sells tape products, which include masking tape for painting and printed-circuit boards, double sided tapes, electrical tape, and sealant materials used in the construction industry. Nitto Denko also sells film products, which include surface protective film, fluoroplastic films used to seal pipes and air filters, and porous film that allows air to pass through but seals water and other liquids. The firm also produces electronics, which include flexible printed circuit boards for smartphones and tablets, and medical products such as drug delivery patches and adhesive sheets.

Nitto Denko (TSE:6988) Headlines

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