Cardia Bioplastics (ASX:CNN) Momentum Rank : 0 (As of May. 17, 2024)

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What is Cardia Bioplastics Momentum Rank?

Cardia Bioplastics 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.

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Cardia Bioplastics (ASX:CNN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » Cardia Bioplastics Ltd (ASX:CNN) » Definitions » Momentum Rank

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SES:Australia

Address

247 Ferntree Gully Road, Unit 1, Mount Waverley, Melbourne, VIC, AUS, VIC 3149

Website

https://www.secosgroup.com.au

SECOS Group Ltd is an Australian developer and manufacturer of sustainable packaging materials. . Business operating segment includes the manufacture and distribution of polyethylene films, renewable resource-based resins, and finished products. It supplies proprietary biodegradable resins, packaging products cast films to a customer base spread globally.SECOS Global Application Development Centre is in Australia. Product Development Centre and manufacturing plant for resins and finished products in China and resins plant in Malaysia. It also has manufacturing plants for cast films in Malaysia. It conducts sales via geographical regions that include Australia, Asia, America, Europe, and Africa. Asia generates maximum revenue for the company.

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