Adline Chem Lab (BOM:524604) Momentum Rank : 6 (As of Jun. 21, 2024)

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What is Adline Chem Lab Momentum Rank?

Adline Chem Lab has the Momentum Rank of 6.

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 Adline Chem Lab's Momentum Rank

For the Drug Manufacturers - Specialty & Generic subindustry, Adline Chem Lab'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.

Adline Chem Lab's Momentum Rank Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Adline Chem Lab's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Adline Chem Lab's Momentum Rank falls into.

Adline Chem Lab Momentum Rank Related Terms

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Adline Chem Lab (BOM:524604) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Adline Chem Lab Ltd (BOM:524604) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

S.G. Highway, Bodakdev, Opposite Rajpath Club, 9th Floor, Office Number 904, Shapath-I Complex, Near Madhur Hotel, Ahmedabad, GJ, IND, 380054

Website

https://www.kamronlabs.com

Adline Chem Lab Ltd formerly Kamron Laboratories Ltd is mainly engaged in the manufacturing and trading of pharmaceutical products. The segments of the group are Pharmaceutical formulations, Nutraceuticals, and Dietary supplements. The company's products are offered to the domestic market, international market, veterinary, educational supplements, and contract manufacturing. It derives key revenue from the sales of Pharmaceutical formulations.

Adline Chem Lab (BOM:524604) Headlines

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