Enkei Wheels (India) (BOM:533477) Momentum Rank : 1 (As of Jun. 22, 2024)

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What is Enkei Wheels (India) Momentum Rank?

Enkei Wheels (India) has the Momentum Rank of 1.

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 Enkei Wheels (India)'s Momentum Rank

For the Auto Parts subindustry, Enkei Wheels (India)'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.

Enkei Wheels (India)'s Momentum Rank Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Enkei Wheels (India)'s Momentum Rank distribution charts can be found below:

* The bar in red indicates where Enkei Wheels (India)'s Momentum Rank falls into.

Enkei Wheels (India) Momentum Rank Related Terms

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Enkei Wheels (India) (BOM:533477) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Enkei Wheels (India) Ltd (BOM:533477) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Gat No. 1425, Village Shikrapur, Taluka Shirur, Pune, IND, 412208

Website

http://www.enkei.in

Enkei Wheels (India) Ltd is involved in the manufacturing of aluminum alloy casting wheels for two-wheelers as well as four-wheelers. The company only operating business segment that is Automotive Wheels. It sells its product in two forms that are manufactured goods; which consist of wheels for two and four-wheeler vehicles, and traded goods; which include wheels for four-wheelers and accessories.

Enkei Wheels (India) (BOM:533477) Headlines

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