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ParcelPal Logistics (ParcelPal Logistics) Momentum Rank : 0 (As of May. 28, 2024)


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What is ParcelPal Logistics Momentum Rank?

ParcelPal Logistics 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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ParcelPal Logistics (ParcelPal Logistics) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » ParcelPal Logistics Inc (OTCPK:PTNYF) » Definitions » Momentum Rank
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Traded in Other Exchanges
PT0A:Germany PKG:Canada
Address
422 Richards Street, Suite 170, Vancouver, BC, CAN, V6B 2Z4
Website
https://www.parcelpal.com
ParcelPal Logistics Inc is a Canadian-based company that specializes in last-mile delivery service and logistics solutions, providing businesses with a smart, reliable, and affordable delivery service powered by the company's licensed technology platform. It is a customer-driven, courier and logistics company connecting people and businesses through its network of couriers in major Canadian cities including Vancouver, Calgary, and Toronto, and now in the western region of the United States. Some of its verticals include pharmacy & health, meal kit deliveries, retail, groceries, and more.