Al-Rajhi Co For Cooperative Insurance (SAU:8230) Momentum Rank : 0 (As of May. 31, 2024)

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What is Al-Rajhi Co For Cooperative Insurance Momentum Rank?

Al-Rajhi Co For Cooperative Insurance 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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Al-Rajhi Co For Cooperative Insurance (SAU:8230) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Al-Rajhi Co For Cooperative Insurance (SAU:8230) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

3485-Ath Thummamah road, P.O.Box 67791, Al Rabie District, Riyadh, SAU, 11517

Website

https://www.alrajhitakaful.com

Al-Rajhi Co For Cooperative Insurance is engaged in the provision of cooperative insurance and reinsurance services. The purpose of the company is to conduct cooperative insurance operations and all related activities including re-takaful and agency activities. Its operating segments include Medical; Motor; Property and Casualty; and Protection and Savings.

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