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Wellnex Life (ASX:WNX) Momentum Rank : 0 (As of Jun. 18, 2024)


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What is Wellnex Life Momentum Rank?

Wellnex Life 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.

Wellnex Life Momentum Rank Related Terms

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Wellnex Life (ASX:WNX) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Wellnex Life Ltd (ASX:WNX) » Definitions » Momentum Rank
Comparable Companies
ASX:JAT ASX:TFL ASX:AHF ASX:HLF ASX:FOD ASX:HPC ASX:NGS ASX:PFT ASX:CSF ASX:NUC XSWX:NESN SHSE:603288 KHC GIS XPAR:BN SHSE:600887 SZSE:300999 HRL MKC K
Traded in Other Exchanges
22W0:Germany
Address
574 Plummer Street, Building 2, Level 3, Suite 69, Port Melbourne, Melbourne, VIC, AUS, 3207
Website
https://www.wattlehealth.com.au
Wellnex Life Ltd is a health and wellness company which is engaged in developing health and wellness products. It offers products including nutritional food products, natural baby skincare range, and nutritional health supplement range. The company offers its products through brands such as The Iron Company, Mr Bright, Nighty Night and others.

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