Emirates Islamic Bank PJSC (DFM:EIB) Momentum Rank : 0 (As of May. 02, 2024)

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What is Emirates Islamic Bank PJSC Momentum Rank?

Emirates Islamic Bank 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.

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Emirates Islamic Bank PJSC (DFM:EIB) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Emirates Islamic Bank PJSC (DFM:EIB) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Dubai Health Care City, P.O. Box 6564, 3rd Floor, Building 16, Dubai, ARE

Website

https://www.emiratesislamic.ae

Emirates Islamic Bank PJSC provides full commercial and banking services and offers various products through Islamic financing and investing instruments following Islamic Sharia. The group's activities comprise three business segments: Corporate and institutional banking, Retail banking and wealth management, Treasury, and Others. Substantial revenue is generated from Retail banking and wealth management.

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