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Nexus Gold (Nexus Gold) Momentum Rank : 0 (As of May. 18, 2024)


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What is Nexus Gold Momentum Rank?

Nexus Gold 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.

Nexus Gold Momentum Rank Related Terms

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Nexus Gold (Nexus Gold) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Nexus Gold Corp (OTCPK:NXSGF) » Definitions » Momentum Rank
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Traded in Other Exchanges
GH00:Germany NXS:Canada
Address
750 West Pender Street, Suite 802, Vancouver, BC, CAN, V6C 2T8
Website
https://www.nxs.gold
Nexus Gold Corp is a Canadian-based company with a portfolio of ten exploration projects in West Africa and Canada. The West African-based portfolio totals five projects located on active gold belts and mineralized trends, while its 100% owned Canadian projects include the flagship McKenzie Gold Project in Red Lake, Ontario. The company is focused on developing several core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its growing portfolio.