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Fenikso (AQSE:FNK) Momentum Rank : 0 (As of Jun. 24, 2024)


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What is Fenikso Momentum Rank?

Fenikso 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.

Fenikso Momentum Rank Related Terms

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Fenikso (AQSE:FNK) Business Description

Industry
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Traded in Other Exchanges
LEKOF:USA
Address
Walkers Corporate Limited, 190 Elgin Avenue, George Town, Grand Cayman, CYM, KY1-9008
Website
https://www.feniksoplc.com
Fenikso Ltd, formerly Lekoil Ltd is functional in the upstream oil and gas industry in Nigeria. The company's business involves exploring potential oil and natural gas and processing of the acquired crude reserves. In collaboration with its subsidiaries including Lekoil Nigeria Limited, Lekoil Exploration and Production (Pty) Limited and Lekoil Management Corporation, the company operates in its assets, which are based in Nigeria such as the Otakikpo marginal field, Nigeria Dahomey Basin OPL310 and Nigeria Dahomey Basin OPL 325. The Otakikpo marginal field lies in a coastal swamp location in Oil Mining Lease (OML) 11. The OPL 310 license located in the Upper Cretaceous fairway, runs along the West African Transform Margin. Lekoil also has projects in Namibia, United States and Cayman.

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