Tofas Turk Otomobil Fabrikasi AS (IST:TOASO) Momentum Rank : 0 (As of Dec. 15, 2024)

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What is Tofas Turk Otomobil Fabrikasi AS Momentum Rank?

Tofas Turk Otomobil Fabrikasi AS 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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Tofas Turk Otomobil Fabrikasi AS Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Tofas Turk Otomobil Fabrikasi AS (IST:TOASO) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Buyukdere Cad. No: 145 Tofas Han, Zincirlikuyu, Istanbul, TUR, 34394

Website

https://www.tofas.com.tr

Tofas Turk Otomobil Fabrikasi AS is a Turkish automotive manufacturer of both passenger cars and light commercial vehicles. Its core business s manufacturing, exporting and selling passenger cars and light commercial vehicles under licenses of Fiat Chrysler Automobiles S.p.A. (Fiat). The company manufactures for a range of passenger cars i.e. Fiat Linea, Egea models, and others. Tofas also acts as a distributor of the Fiat, Alfa Romeo, Jeep, Lancia, Maserati, and Ferrari brands in Turkey. It also produces various automotive spare parts used in its automobiles. The company has three business divisions namely Automobile, Trading of spare parts, and Consumer finance.

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