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Auto Nejma (CAS:NEJ) Momentum Rank : 0 (As of Jun. 13, 2024)


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What is Auto Nejma Momentum Rank?

Auto Nejma 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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Auto Nejma (CAS:NEJ) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Auto Nejma (CAS:NEJ) » Definitions » Momentum Rank
Comparable Companies
CAS:ATH TPE:2207 KMX PAG XBRU:DIE LAD HKSE:00881 AN TSE:4732 ABG GPI LSE:INCH CVNA RUSHA ACVA SHSE:600297 ASX:APE CARG DRVN IST:DOAS
Traded in Other Exchanges
N/A
Address
Km 10, El Jadida Road, Casablanca, MAR, 20230
Website
http://www.autonejma.ma
Auto Nejma is an automobile distributor in Morocco. The company imports and markets vehicles, spare parts and car accessories. It represents the Mercedes-Benz private and commercial vehicle brands, SsangYong and Mahindra in Morocco.

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