Qantas Airways (Qantas Airways) Momentum Rank : 8 (As of Jun. 23, 2024)

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What is Qantas Airways Momentum Rank?

Qantas Airways has the Momentum Rank of 8.

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 Qantas Airways's Momentum Rank

For the Airlines subindustry, Qantas Airways'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.

Qantas Airways's Momentum Rank Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Qantas Airways's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Qantas Airways's Momentum Rank falls into.

Qantas Airways Momentum Rank Related Terms

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Qantas Airways (Qantas Airways) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Qantas Airways Ltd (OTCPK:QABSY) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

QUBSF:USA QAN:Germany QAN:Australia

Address

10 Bourke Road, Mascot, Sydney, NSW, AUS, 2020

Website

https://www.qantas.com

Qantas Airways is Australia's largest domestic airline with typically a two thirds market share, effectively competing in a duopoly with Virgin. The company operates a multibrand strategy, with low-cost carrier Jetstar complementing the full-service Qantas brand. Its frequent-flyer loyalty program continues to expand with new partnerships, which are integral to retaining customer loyalty for its core airline business.

Qantas Airways (Qantas Airways) Headlines

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