Alliance Aviation Services (ASX:AQZ) Momentum Rank : 4 (As of Dec. 15, 2024)

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What is Alliance Aviation Services Momentum Rank?

Alliance Aviation Services has the Momentum Rank of 4.

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 Alliance Aviation Services's Momentum Rank

For the Airports & Air Services subindustry, Alliance Aviation Services'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.

Alliance Aviation Services's Momentum Rank Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Alliance Aviation Services's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Alliance Aviation Services's Momentum Rank falls into.

Alliance Aviation Services Momentum Rank Related Terms

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Alliance Aviation Services Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Alliance Aviation Services Ltd (ASX:AQZ) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

81 Pandanus Avenue, P.O. Box 1126, Brisbane Airport, Brisbane, QLD, AUS, 4009

Website

https://www.allianceairlines.com.au

Alliance Aviation Services Ltd is an aviation services provider. The company is engaged in the provision of contract, charter, and allied aviation services. It serves the mining, energy, tourism, and government sectors. The company also provides specialized aviation services to other airlines and clients including aircraft wet leasing, airport management, aircraft trading, parts sales, engine leasing and engineering services. It derives maximum revenue from Contract services.

Alliance Aviation Services Headlines

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