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Westjet Airlines (FRA:WC41) Momentum Rank : 0 (As of Jun. 02, 2024)


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What is Westjet Airlines Momentum Rank?

Westjet Airlines 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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Westjet Airlines (FRA:WC41) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Westjet Airlines Ltd (FRA:WC41) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
22 Aerial Place N.E., Calgary, AB, CAN, T2E 3J1
Website
http://www.westjet.com
WestJet is a Canadian airline based in Calgary, Alberta. WestJet operates WestJet Vacations, which provides air, hotel, car, and excursion packages and in 2013 launched WestJet Encore, a regional airline that operates Q400 turboprops, servicing smaller destinations. It also plans to launch an ultra-low-cost carrier (branded Swoop) in 2018. WestJet services over 100 destinations in North America, Central America, the Caribbean, and Europe. The carrier generated roughly CAD 4.5 billion in revenue in 2017.

Westjet Airlines (FRA:WC41) Headlines

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