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Essar Shipping (BOM:533704) Momentum Rank : 9 (As of Sep. 24, 2024)


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What is Essar Shipping Momentum Rank?

Essar Shipping has the Momentum Rank of 9.

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 Essar Shipping's Momentum Rank

For the Marine Shipping subindustry, Essar Shipping'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.

Essar Shipping's Momentum Rank Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Essar Shipping's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Essar Shipping's Momentum Rank falls into.


Essar Shipping Momentum Rank Related Terms

Thank you for viewing the detailed overview of Essar Shipping's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Essar Shipping Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Essar Shipping Ltd (BOM:533704) » Definitions » Momentum Rank
Comparable Companies
BOM:501848 NSE:ACSAL BOM:501833 BOM:526508 BOM:520151 NSE:MARINE BOM:543273 BSP:PSVM11 XTER:HLAG OCSE:MAERSK B HKSE:01919 BOM:532921 SHSE:600018 TSE:9101 TSE:9104 SHSE:601018 HKSE:00316 TSE:9107 HKSE:01138 ADX:ADPORTS
Traded in Other Exchanges
ESSARSHPNG:India
Address
11, K.K. Marg, Essar House, Mahalaxmi, Mumbai, MH, IND, 400 034
Website
https://www.essar.com
Essar Shipping Ltd is engaged in fleet operating and chartering and operates in international and coastal voyages. The company is diversified across various sectors of Energy, Infrastructure (comprising Ports and EPC businesses), Metals and Mining, and Services (Shipping, IT and Retail businesses). It also provides oilfield drilling services. The oilfields services business provides contract drilling services to oil and gas companies across the globe. The company generates maximum revenue from fleet operating and chartering segment.

Essar Shipping Headlines

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