Onward Opportunities (LSE:ONWD) Momentum Rank : 0 (As of Jun. 23, 2024)

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What is Onward Opportunities Momentum Rank?

Onward Opportunities 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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Onward Opportunities (LSE:ONWD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Onward Opportunities Ltd (LSE:ONWD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Royal Avenue, 1 Royal Plaza, Saint Peter Port, GGY, GY1 2HL

Website

https://www.onwardopportunities.co.uk

Onward Opportunities Ltd operates as a non-cellular (closed-ended) company limited by shares. The company's investment objective is to seek to generate risk-adjusted absolute returns for Shareholders through investments in UK smaller companies. Returns are expected to be principally derived from capital growth over a target three to five-year holding period with an appropriate diversification of investment risk.

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