Grindrod (JSE:GNDP.PFD) Momentum Rank : 7 (As of Dec. 14, 2024)

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What is Grindrod Momentum Rank?

Grindrod has the Momentum Rank of 7.

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 Grindrod's Momentum Rank

For the Integrated Freight & Logistics subindustry, Grindrod'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.

Grindrod's Momentum Rank Distribution in the Transportation Industry

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

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

Grindrod Momentum Rank Related Terms

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Grindrod Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Grindrod Ltd (JSE:GNDP.PFD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

GND:South Africa GRDLF:USA

Address

106 Margaret Mncadi Avenue, Grindrod Mews, Durban, NL, ZAF, 4001

Website

https://www.grindrod.com

Grindrod Ltd is a logistics company. Its solutions include terminal operations, port management, and logistics solutions, including rail logistics, container logistics, intermodal solutions, warehouse management, road transportation, maritime transport, ships agency, clearing and forwarding, customs management, and project logistics. Its operations consist of Port and Terminals which provide dry-bulk commodities handling services along key trade corridors in South Africa, Mozambique, and Namibia. The Logistics segment operates a ships agency, clearing and forwarding, and rail services as well as container handling landside operations.

Grindrod Headlines

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