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Clean Air Metals (FRA:CKU) Momentum Rank : 0 (As of Jun. 23, 2024)


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What is Clean Air Metals Momentum Rank?

Clean Air Metals 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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Clean Air Metals (FRA:CKU) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Clean Air Metals Inc (FRA:CKU) » Definitions » Momentum Rank
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Traded in Other Exchanges
CLRMF:USA AIR:Canada
Address
100 King Street West, Suite 3400, Toronto, ON, CAN, M5X 1A4
Website
https://www.cleanairmetals.ca
Clean Air Metals Inc is engaged in mineral exploration and evaluation. The projects of the company include Thunder Bay North Property, Located approximately 50km northeast of the city of Thunder Bay, within the Thunder Bay Mining Division, in Ontario, Canada and Triple Flag Net Smelter Royalty.

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