Genoil (Genoil) Momentum Rank : 0 (As of Jun. 17, 2024)

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What is Genoil Momentum Rank?

Genoil 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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Genoil (Genoil) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Genoil Inc (OTCPK:GNOLF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

One Rockefeller Center, 11th Floor, New York, NY, USA, 10020

Website

https://www.genoil.ca

Genoil Inc is a technology development company related to the oil and gas industry. It is a provider of hydro conversion fixed bed technology for upstream and downstream oil and gas industry. The company's business activities are majorly directed to the development and commercialization of its upgrader technology, which is designed to economically convert heavy crude oil into light synthetic crude. In addition, it owns rights to several patented and proprietary technologies. It derives revenue from engineering and consulting, licensing fee / royalties and profit share. The company's geographical presence in Middle East, Russia and China.