Dubai Electricity & Water Authority PJSC (DFM:DEWA) Momentum Rank : 0 (As of May. 19, 2024)

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What is Dubai Electricity & Water Authority PJSC Momentum Rank?

Dubai Electricity & Water Authority PJSC 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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Dubai Electricity & Water Authority PJSC (DFM:DEWA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Dubai Electricity & Water Authority PJSC (DFM:DEWA) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Sheikh Rashid Road, Umm Hurair 2, P.O. Box 564, Near Wafi Mall, Happiness Center Zaabeel East, Dubai, ARE

Website

https://www.dewa.gov.ae

Dubai Electricity & Water Authority PJSC is engaged in water desalination and distribution and the generation, transmission and distribution of electricity, throughout the Emirate of Dubai. The group is organised into four segments: Electricity, Water, District cooling charges, and others. It generates maximum revenue from the Electricity segment.

Dubai Electricity & Water Authority PJSC (DFM:DEWA) Headlines

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