Norske Skog ASA (OSL:NSKOG) Momentum Rank : 5 (As of May. 27, 2024)

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What is Norske Skog ASA Momentum Rank?

Norske Skog ASA has the Momentum Rank of 5.

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 Norske Skog ASA's Momentum Rank

For the Paper & Paper Products subindustry, Norske Skog ASA'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.

Norske Skog ASA's Momentum Rank Distribution in the Forest Products Industry

For the Forest Products industry and Basic Materials sector, Norske Skog ASA's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Norske Skog ASA's Momentum Rank falls into.

Norske Skog ASA Momentum Rank Related Terms

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Norske Skog ASA (OSL:NSKOG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Forest Products » Norske Skog ASA (OSL:NSKOG) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NSKOGo:Sweden

Address

Sjolyst plass 2, Oslo, NOR, 0278

Website

https://www.norskeskog.com

Norske Skog ASA is an industrial company in publication paper, packaging paper, energy production, and bioproducts. Publication paper products comprise both newsprint and magazine paper, both of which are marketed under the NOR brand. Packaging paper includes the recycled containerboard grades test liner and fluting, which are marketed under the STRATO brand. The company's core bioproducts are the nano cellulose product CEBINA and the bio-composite product CEBICO. Norske Skog owns and operates four industrial sites in Europe, and one industrial site in Australasia.

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