GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Tolu Minerals Ltd (ASX:TOK) » Definitions » Momentum Rank

Tolu Minerals (ASX:TOK) Momentum Rank : 0 (As of May. 26, 2024)


View and export this data going back to 2023. Start your Free Trial

What is Tolu Minerals Momentum Rank?

Tolu 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.

Tolu Minerals Momentum Rank Related Terms

Thank you for viewing the detailed overview of Tolu Minerals's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Tolu Minerals (ASX:TOK) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Tolu Minerals Ltd (ASX:TOK) » Definitions » Momentum Rank
Comparable Companies
Traded in Other Exchanges
N/A
Address
Unit 5, Ground Floor, Turumu Haus, Spring Garden, Gordons, Moresby North East, Port Moresby, PNG, 121
Website
https://www.toluminerals.com
Tolu Minerals Ltd is an emerging exploration company with rights to three significant gold and silver and copper resource opportunities in PNG. Its projects include the Tolukuma Gold Mine, the Tolukuma Gold Mine, and the Mt Penck Tenement.

Tolu Minerals (ASX:TOK) Headlines