Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) Momentum Rank : 10 (As of Apr. 30, 2024)

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What is Compania deneamento de Minas Gerais - COPASA MG Momentum Rank?

Compania deneamento de Minas Gerais - COPASA MG has the Momentum Rank of 10.

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 Compania deneamento de Minas Gerais - COPASA MG's Momentum Rank

For the Utilities - Regulated Water subindustry, Compania deneamento de Minas Gerais - COPASA MG'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.

Compania deneamento de Minas Gerais - COPASA MG's Momentum Rank Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Compania deneamento de Minas Gerais - COPASA MG's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Compania deneamento de Minas Gerais - COPASA MG's Momentum Rank falls into.

Compania deneamento de Minas Gerais - COPASA MG Momentum Rank Related Terms

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Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Compania de Saneamento de Minas Gerais - COPASA MG (BSP:CSMG3) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Rua Mar de Espanha 525, Santo Antonio, Belo Horizonte, MG, BRA, 30330900

Website

http://www.copasa.com.br

COPASA MG provides water supply, sewage, and solid waste services. The company operates out of subsidiaries COPASA Serviços de Irrigaçao S.A., COPASA Aguas Minerais de Minas S.A, and COPANOR. COPASA Serviços de Irrigaçao S.A. manages, performs, and sells irrigation system services. COPASA Águas Minerais de Minas S.A. produces, bottles, distributes, and sells mineral water. COPANOR provides water supply and sewage treatment services across the North and Northeast regions of the State of Minas Gerais. A majority of revenue is derived from water services while the rest is derived from sewage services. The company operates out of Brazil, where a significant amount of revenue is generated.

Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) Headlines

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