Concord Medical Co (ROCO:6518) Momentum Rank : 5 (As of Jun. 20, 2024)

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What is Concord Medical Co Momentum Rank?

Concord Medical Co 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 Concord Medical Co's Momentum Rank

For the Medical Instruments & Supplies subindustry, Concord Medical Co'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.

Concord Medical Co's Momentum Rank Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Concord Medical Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Concord Medical Co's Momentum Rank falls into.

Concord Medical Co Momentum Rank Related Terms

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Concord Medical Co (ROCO:6518) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Concord Medical Co Ltd (ROCO:6518) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Number 266, Wenhua Road, 12F, Sec.1, 12th Floor, Banqiao District, New Taipei City, Taipei, TWN, 22041

Website

http://www.concordmed.com.tw

Concord Medical Co Ltd is a Taiwan based company involved in providing hospital management support services including medical equipment leasing, pharmaceuticals, and medical consumables integrated supply. . The company's main business items are medical equipment, pharmaceuticals Product trading business, leasing business and management consulting services.

Concord Medical Co (ROCO:6518) Headlines

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