Advance Syntex (BOM:539982) Momentum Rank : 5 (As of May. 23, 2024)

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What is Advance Syntex Momentum Rank?

Advance Syntex has the Momentum Rank of 5.

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 Advance Syntex's Momentum Rank

For the Specialty Chemicals subindustry, Advance Syntex'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.

Advance Syntex's Momentum Rank Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Advance Syntex's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Advance Syntex's Momentum Rank falls into.

Advance Syntex Momentum Rank Related Terms

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Advance Syntex (BOM:539982) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Advance Syntex Ltd (BOM:539982) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

233/2 & 238/2 GIDC POR, Ramangamdi, Vadodara, GJ, IND, 391243

Website

https://www.midasglitter.com

Advance Syntex Ltd is an India-based manufacturer of other made-up textile goods except for apparel. It manufactures and exports metallic yarn, lacquer-coated aluminum metalized polyester film, glitter powder, and allied other products. The company's product line includes metalized polyester films, metalized and coated film for metallic yarn, polyester tape films, and coated polyester films; glitter powder for textiles, decorative and clear polyester glitters, and others.

Advance Syntex (BOM:539982) Headlines

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