Aveng (JSE:AEG) Momentum Rank : 5 (As of Apr. 11, 2025)

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What is Aveng Momentum Rank?

Aveng has the Momentum Rank of 5.

Momentum Rank measures the strength and persistence of a stock's price movement over time, rated on a scale of 1 to 10.

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.

A higher score reflects strong price momentum and indicates greater potential for superior performance. Conversely, a lower score indicates that momentum is either too high or too low, and stocks tend to underperform.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Aveng's Momentum Rank

For the Engineering & Construction subindustry, Aveng'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.

Aveng's Momentum Rank Distribution in the Construction Industry

For the Construction industry and Industrials sector, Aveng's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Aveng's Momentum Rank falls into.

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Aveng Momentum Rank Related Terms

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Aveng Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Aveng Ltd (JSE:AEG) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

UG8K:Germany UG8:Germany

Address

2 Merlin Rose Avenue, Parkhaven, Boksburg, GT, ZAF, 1459

Website

https://www.aveng.co.za

Aveng Ltd is in the construction and engineering business. It has the following segments; the Infrastructure segment comprises McConnell Dowell and is divided into Australia, New Zealand and Pacific Islands, and Southeast Asia; the Building segment comprises Built Environs, an infrastructure-led specialist with experience in sport, health and science, defence, education, residential, commercial, retail, industrial, and infrastructure sectors; the Mining segment comprises Moolmans, a tier-one contract mining business operating in Africa with a primary focus on open cast mining; and Aveng Legacy and the Aveng Corporate and eliminations segment. It generates the majority of its revenue from the Infrastructure segment.