Pengana International Equities Limited (ASX:PIA) Momentum Rank : 1 (As of Apr. 30, 2024)

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What is Pengana International Equities Limited Momentum Rank?

Pengana International Equities Limited has the Momentum Rank of 1.

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 Pengana International Equities Limited's Momentum Rank

For the Asset Management subindustry, Pengana International Equities Limited'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.

Pengana International Equities Limited's Momentum Rank Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Pengana International Equities Limited's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Pengana International Equities Limited's Momentum Rank falls into.

Pengana International Equities Limited Momentum Rank Related Terms

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Pengana International Equities Limited (ASX:PIA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Pengana International Equities Limited (ASX:PIA) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

1 Farrer Place, Suite 1, Level 27, Grosvenor Phillip Tower, Sydney, NSW, AUS, 2000

Website

https://www.pengana.com

Pengana International Equities Limited, formerly Hunter Hall Global Value Ltd is an investment holding company investing in medium and long-term concentrated portfolio, predominantly in international and ASX listed securities. The company operates in one business segment, being an investment in securities. Its objective is to provide investors with superior returns over the medium to long term by investing in high-quality stocks that are perceived to be undervalued.

Pengana International Equities Limited (ASX:PIA) Headlines

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