Cannabix Technologies (Cannabix Technologies) Momentum Rank : 4 (As of May. 01, 2024)

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What is Cannabix Technologies Momentum Rank?

Cannabix Technologies has the Momentum Rank of 4.

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 Cannabix Technologies's Momentum Rank

For the Medical Devices subindustry, Cannabix Technologies'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.

Cannabix Technologies's Momentum Rank Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Cannabix Technologies's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Cannabix Technologies's Momentum Rank falls into.

Cannabix Technologies Momentum Rank Related Terms

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Cannabix Technologies (Cannabix Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Cannabix Technologies Inc (OTCPK:BLOZF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

8CT:Germany BLO:Canada

Address

501-3292 Production Way, Burnaby, BC, CAN, V5A 4R4

Website

https://www.cannabixtechnologies.com

Cannabix Technologies Inc is in the development of marijuana breathalyzer. It is developing breath testing technologies that can be used at the point of care to detect recent use of marijuana. It is also developing its technology to help employers, law enforcement, government and the public, when marijuana is becoming legal for recreational and medicinal use in many jurisdictions globally. The FAIMS device is designed to operate both independently or coupled in tandem directly to a mass spectrometer, used in forensic labs. The THC Breath Analyzer is a point of care breath testing tool for the rapid detection of recent cannabis use.

Cannabix Technologies (Cannabix Technologies) Headlines

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