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Thai Cane Paper Public Company Limited (BKK:TCP) Momentum Rank : 0 (As of Jun. 05, 2024)


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What is Thai Cane Paper Public Company Limited Momentum Rank?

Thai Cane Paper Public Company Limited 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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Thai Cane Paper Public Company Limited (BKK:TCP) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Forest Products » Thai Cane Paper Public Company Limited (BKK:TCP) » Definitions » Momentum Rank
Comparable Companies
XTAE:HAP TPE:1902 XKRX:002310 XKRX:009580 TPE:1903 SHSE:600235 BOM:532162 TSE:3864 XKRX:016590 XKRX:213500 BKK:UTP TSE:9274 TSE:3877 BOM:500444 BOG:CARTON SHSE:600793 XMAD:IBG SHSE:600356 SZSE:300703 PAPPEL
Traded in Other Exchanges
N/A
Address
Website
http://www.thaicane.com
Thai Cane Paper Public Company Limited manufactures and sells kraft paper used in the manufacture of packaging, such as corrugated box, paper cement bags, envelopes and core paper in Thailand. The Company's products are categorized into two groups i.e. kraft liner board which is used in making packaging surfaces and kraft paper which is used for making corrugated medium. The Company offers numerous grade of products to meet the diverse market demand.