Telares de Palo Grande S.A.C.A (CAR:TPG) Momentum Rank : 0 (As of Jun. 16, 2024)

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What is Telares de Palo Grande S.A.C.A Momentum Rank?

Telares de Palo Grande S.A.C.A has the Momentum Rank of 0.

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.

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Telares de Palo Grande S.A.C.A (CAR:TPG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Telares de Palo Grande S.A.C.A (CAR:TPG) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Zona Industrial Ruiz Pineda, a 200 mts. del Liceo Gran Mariscal de Ayacucho, Caricuao, Caracas, VEN

Website

http://telaresdepalogrande.com

Telares de Palo Grande S.A.C.A is engaged in manufacturing of towels.The company use Orinoco type cotton and American cotton, which the company convert into yarn to make the towels. The company is divided into Spinning department, Dry Cleaning Department and Clothing Department. It's equipment includes Schlafhorst open end spinning machines, Sulzer towel looms, Thies dyeing machines and Texpa automated sewing machines.