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NASCON Allied Industries (NSA:NSLT) Momentum Rank : 0 (As of Jun. 25, 2024)


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What is NASCON Allied Industries Momentum Rank?

NASCON Allied Industries 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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NASCON Allied Industries (NSA:NSLT) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » NASCON Allied Industries PLC (NSA:NSLT) » Definitions » Momentum Rank
Comparable Companies
BOM:539408 BOM:524743 BOM:514248 BOM:506640 BOM:531257 BOM:524592 BOM:519097 BOM:507486 BOM:524748 BOM:524210 BOM:506858 BOM:530815 BOM:530991 BOM:524514 JSE:SPA TSXV:IPD BOM:538634 NSE:PROLIFE BOM:524522 BOM:524640
Traded in Other Exchanges
N/A
Address
1, Alfred Rewane Road Falomo, Ikoyi, Lagos, NGA
Website
http://www.nasconplc.com
NASCON Allied Industries PLC is engaged in the processing of raw salt into edible salt as well as the importation of petti tomato paste. It produces edible salt for industrial use and sachet salt. The company's brand series include Dan-Q Seasoning, Dangote Tomato Paste, and Dangote Salt.

NASCON Allied Industries (NSA:NSLT) Headlines

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