Pan Asia Banking (COL:PABC.N0000) Momentum Rank : 0 (As of May. 26, 2024)

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What is Pan Asia Banking Momentum Rank?

Pan Asia Banking 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.

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Pan Asia Banking (COL:PABC.N0000) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Pan Asia Banking Corp PLC (COL:PABC.N0000) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

No. 450, Galle Road, Colombo, LKA, 03

Website

https://www.pabcbank.com

Pan Asia Banking Corp PLC operates as a bank which is engaged in providing banking products and services. It provides services including corporate banking, retail banking, and treasury functions. The business segments of the company are Corporate Banking which includes loans, overdrafts, other credit facilities, deposits, current accounts and other services offered to corporate customers; Retail and SME Banking, which includes loans, overdrafts, credit card facilities, deposits, current accounts and other services offered to retail customers; and Treasury and investment function includes trading function, financing and other central functions, use of derivative for risk management purpose, investment products, and services to institutional investors and intermediaries.

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