Eastman Chemical Co (BSP:E1MN34) Momentum Rank : 4 (As of May. 01, 2024)

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What is Eastman Chemical Co Momentum Rank?

Eastman Chemical Co has the Momentum Rank of 4.

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 Eastman Chemical Co's Momentum Rank

For the Specialty Chemicals subindustry, Eastman Chemical Co'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.

Eastman Chemical Co's Momentum Rank Distribution in the Chemicals Industry

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

* The bar in red indicates where Eastman Chemical Co's Momentum Rank falls into.

Eastman Chemical Co Momentum Rank Related Terms

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Eastman Chemical Co (BSP:E1MN34) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

EMN:USA EMN:Mexico EAC:Germany

Address

200 South Wilcox Drive, Kingsport, TN, USA, 37662

Website

https://www.eastman.com

Established in 1920 to produce chemicals for Eastman Kodak, Eastman Chemical has grown into a global specialty chemicals company with manufacturing sites around the world. The company generates the majority of its sales outside of the United States, with a strong presence in Asian markets. During the past several years, Eastman has sold noncore businesses, choosing to focus on higher-margin specialty product offerings.

Eastman Chemical Co (BSP:E1MN34) Headlines

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