Cia Paranaense De Energia Copel (BSP:CPLE6) Momentum Rank : 8 (As of Apr. 29, 2024)

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What is Cia Paranaense De Energia Copel Momentum Rank?

Cia Paranaense De Energia Copel has the Momentum Rank of 8.

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 Cia Paranaense De Energia Copel's Momentum Rank

For the Utilities - Diversified subindustry, Cia Paranaense De Energia Copel'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.

Cia Paranaense De Energia Copel's Momentum Rank Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Cia Paranaense De Energia Copel's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Cia Paranaense De Energia Copel's Momentum Rank falls into.

Cia Paranaense De Energia Copel Momentum Rank Related Terms

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Cia Paranaense De Energia Copel (BSP:CPLE6) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Cia Paranaense De Energia Copel (BSP:CPLE6) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

ELPC:USA ELP:USA XCOP:Spain ELPA:Germany CPLE5:Brazil CPLE3:Brazil

Address

Rua Jose Izidoro Biazetto, 158, Bloco A, Mossungue, Curitiba, PR, BRA, 81200-240

Website

https://www.copel.com

Cia Paranaense De Energia Copel is primarily involved in the production of power in the Brazilian state of Parana. Specifically, the company's operating segments include power generation and transmission, gas, power distribution, power sale, and Holding and Services. Most of the company's revenue is derived from the sale of electricity. It generates electricity through renewable energy sources such as hydroelectric, wind plants, and thermoelectric plants. The company was designed to allow Parana to manage the distribution of power and related services, so the state is a major shareholder.

Cia Paranaense De Energia Copel (BSP:CPLE6) Headlines

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