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Australian Pacific Coal (ASX:AQC) Momentum Rank : 0 (As of Jun. 20, 2024)


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What is Australian Pacific Coal Momentum Rank?

Australian Pacific Coal 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.

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Australian Pacific Coal (ASX:AQC) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Other Energy Sources » Australian Pacific Coal Ltd (ASX:AQC) » Definitions » Momentum Rank
Comparable Companies
ASX:MCM ASX:REY ASX:MYE ASX:AUH ASX:IEC ASX:WEC ASX:TER SHSE:601088 BOM:512599 ISX:BYAN NSE:COALINDIA SHSE:601225 SHSE:600188 HKSE:01898 SHSE:601699 SZSE:000983 SZSE:000933 SZSE:002128 ISX:DSSA SHSE:900948
Traded in Other Exchanges
N/A
Address
Stair Street, Kayuga, NSW, AUS, 2333
Website
http://www.aqcltd.com
Australian Pacific Coal Ltd is engaged in the exploration, development, and production activities focused on thermal and metallurgical coal prospects. Its project portfolio includes Dartbrook, Hunter Valley, Newcastle and Mantuan Downs bentonite projects.

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