Takween Advanced Industries (SAU:1201) Momentum Rank : 0 (As of Jun. 04, 2024)

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What is Takween Advanced Industries Momentum Rank?

Takween Advanced Industries 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.

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Takween Advanced Industries (SAU:1201) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » Takween Advanced Industries (SAU:1201) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

King Saud Road, 16th Floor, Al Othman Office Towers, P.O. Box 2500, Al-Khobar, SAU, 31952

Website

http://www.takweenai.com

Takween Advanced Industries is an industrial investment company. The company is engaged in the manufacturing and sale of plastic products to a variety of industrial sectors, such as the dairy, foods, juices, and soft drinks industries. The group operates in the business segments namely, Disposable polystyrene cups, lids and other plastic-related products, and Non-woven fabrics. The products of the company include packing products of polystyrene sheet rolls, thermoformed polystyrene cups and lids, polyethylene bottles, and others. It sells its non-woven fabrics to the medical and health sectors. The company generates the majority of its revenue from the plastic products sector.

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