Guangdong Rongtai Industry Co (SHSE:600589) Momentum Rank : 3 (As of Jun. 24, 2024)

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What is Guangdong Rongtai Industry Co Momentum Rank?

Guangdong Rongtai Industry Co has the Momentum Rank of 3.

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 Guangdong Rongtai Industry Co's Momentum Rank

For the Chemicals subindustry, Guangdong Rongtai Industry 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.

Guangdong Rongtai Industry Co's Momentum Rank Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Guangdong Rongtai Industry Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Guangdong Rongtai Industry Co's Momentum Rank falls into.

Guangdong Rongtai Industry Co Momentum Rank Related Terms

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Guangdong Rongtai Industry Co (SHSE:600589) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Guangdong Rongtai Industry Co Ltd (SHSE:600589) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

No. 1 Xinxing East 2nd Road, Rongcheng District,Guangdong, Jieyang, CHN, 522000

Website

http://www.gdrongtai.cn

Guangdong Rongtai Industry Co Ltd produces and sells new chemical materials and their products mostly and does research and development of high polymer composite. The company owns 3 plants (a chemical solvent plant, a chemical material plant, a melamine ware plant), a research institute, an engineering and technology research and development center (province grade), an enterprise technology center (province grade), and a postdoctoral programme.

Executives

Zhang Wei	Directors, senior managers
Zhou Chun	senior management
Xia Chun Yuan	Directors, senior managers
Yang Bao Sheng	Director

Guangdong Rongtai Industry Co (SHSE:600589) Headlines

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