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Aisha Steel Mills (KAR:ASL) Momentum Rank : 0 (As of Dec. 13, 2024)


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What is Aisha Steel Mills Momentum Rank?

Aisha Steel Mills 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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Aisha Steel Mills Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Aisha Steel Mills Ltd (KAR:ASL) » Definitions » Momentum Rank
Comparable Companies
KAR:ASTL KAR:CSAP KAR:AGHA KAR:ITTEFAQ KAR:INIL KAR:MUGHAL KAR:ISL NUE XKRX:005490 BOM:500228 TSE:5401 SHSE:600019 XAMS:MT NSE:TATASTEEL STLD RS MIC:CHMF TPE:2002 BUE:TXAR SZSE:000708
Traded in Other Exchanges
ASLPS.PFD:Pakistan
Address
23 M.T. Khan Road, 1st Floor, Arif Habib Center, Karachi, SD, PAK, 74000
Website
https://www.aishasteel.com
Aisha Steel Mills Ltd is involved in manufacturing and selling cold rolled steel coils and sheets to the industrial, engineering, and manufacturing industries in Pakistan. Its product offerings include hot-dipped galvanized steel coils, cold-rolled steel coils, and others. The company geographically operates in Pakistan, North America, Middle East, Europe and Asia. The majority of revenue is derived from Pakistan.

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