GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Sunny Optical Technology (Group) Co Ltd (HKSE:02382) » Definitions » Momentum Rank

Sunny Optical Technology (Group) Co (HKSE:02382) Momentum Rank : 5 (As of Apr. 30, 2024)


View and export this data going back to 2007. Start your Free Trial

What is Sunny Optical Technology (Group) Co Momentum Rank?

Sunny Optical Technology (Group) Co has the Momentum Rank of 5.

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.


Competitive Comparison of Sunny Optical Technology (Group) Co's Momentum Rank

For the Electronic Components subindustry, Sunny Optical Technology (Group) Co's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Sunny Optical Technology (Group) Co's Momentum Rank Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Sunny Optical Technology (Group) Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Sunny Optical Technology (Group) Co's Momentum Rank falls into.



Sunny Optical Technology (Group) Co Momentum Rank Related Terms

Thank you for viewing the detailed overview of Sunny Optical Technology (Group) Co's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.


Sunny Optical Technology (Group) Co (HKSE:02382) Business Description

Traded in Other Exchanges
Address
No. 66-68, Fengle Road, Zhejiang Province, Yuyao, CHN, 315400
Headquartered in Yuyao, China, Sunny Optical is China's biggest handset camera modules maker and the world's largest handset lens sets manufacturer. Higher-margin lens sets are used on smartphones, vehicles, and augmented/virtual reality. Sunny Optical is a key beneficiary of the secular growth of mobile and vehicle camera demand, as smartphone manufacturers seek differentiated camera features and advanced driver-assistance systems witness rising adoption among automakers. The firm also manufactures optical instruments, such as high-end microscopes and optical measuring instruments. The company employed over 26,610 people as of December 2022.

Sunny Optical Technology (Group) Co (HKSE:02382) Headlines

No Headlines