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Reward Minerals (ASX:RWD) Momentum Rank : 0 (As of Jun. 20, 2024)


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What is Reward Minerals Momentum Rank?

Reward Minerals 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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Reward Minerals (ASX:RWD) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Reward Minerals Ltd (ASX:RWD) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
159 Stirling Highway, Nedlands, WA, AUS, 6009
Website
https://www.rewardminerals.com
Reward Minerals Ltd is potash focused advanced-stage exploration and development company. The company operates predominantly in one business segment which is Potash mineral exploration and in one geographical area which is Western Australia. Its flagship project is its 100% owned Lake Disappointment Sulphate of Potash (SOP) Project, located 340 kilometers east of Newman in the Little Sandy Desert of northwestern Western Australia.

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