6-1 Month Momentum % is the total return of the stock from 6-month ago to 1-month ago. As of today (2024-05-11), CIT Group's 6-1 Month Momentum % is -5.03%.
The industry rank for CIT Group's 6-1 Month Momentum % or its related term are showing as below:
CIT's 6-1 Month Momentum % is not ranked
in the Banks industry.
Industry Median: 7.69
vs CIT: -5.03
Competitive Comparison of CIT Group's 6-1 Month Momentum %
For the Banks - Regional subindustry, CIT Group's 6-1 Month Momentum %, along with its competitors' market caps and 6-1 Month Momentum % 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.
CIT Group's 6-1 Month Momentum % Distribution in the Banks Industry
For the Banks industry and Financial Services sector, CIT Group's 6-1 Month Momentum % distribution charts can be found below:
* The bar in red indicates where CIT Group's 6-1 Month Momentum % falls into.
CIT Group (NYSE:CIT) 6-1 Month Momentum % Calculation
6-1 Month Momentum % is calculated as following:
6-1 Month Momentum %
=
( Price 1-month ago
/
Price 6-month ago
- 1 )
*
100 %
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
CIT Group (NYSE:CIT) 6-1 Month Momentum % Explanation
Momentum investing is a trading strategy in which investors buy securities that are rising and sell before the prices start to go back down. The 6-1 Month Momentum % measures the total return to a stock over the past six months, but ignores the previous month.
The reason why the most recent month’s return dropped related to the short-term reversal effect associated with momentum. There is an academic finding that short-term momentum actually has a reversal effect, whereby the previous winners (measured over the past months) do poorly the next month, while the previous losers do well the next month. In order to eliminate the short-term reversal effect, the previous month return was not included in this calculation.
CIT Group 6-1 Month Momentum % Related Terms
Thank you for viewing the detailed overview of CIT Group's 6-1 Month Momentum % provided by GuruFocus.com. Please click on the following links to see related term pages.
CIT Group Inc is a banking holding company and a financial holding company operating primarily in North America. It provides financing, leasing, and advisory services primarily to middle-market companies in a diverse group of industries. The company's banking subsidiary mostly operates in Southern California and offers both commercial and retail banking services. The company sources its commercial lending business through direct marketing to customers, vendors, and distributors, among other parties. The company generates revenue by earning interest on loans and investments, as well as commission, fees, and rental income on leased equipment and other financial services. The company also syndicates and sells finance receivables.
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