Zhejiang Red Dragonfly Footwear Co (SHSE:603116) Momentum Rank : 7 (As of Jun. 18, 2024)

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What is Zhejiang Red Dragonfly Footwear Co Momentum Rank?

Zhejiang Red Dragonfly Footwear Co has the Momentum Rank of 7.

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 Zhejiang Red Dragonfly Footwear Co's Momentum Rank

For the Footwear & Accessories subindustry, Zhejiang Red Dragonfly Footwear 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.

Zhejiang Red Dragonfly Footwear Co's Momentum Rank Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Zhejiang Red Dragonfly Footwear Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Zhejiang Red Dragonfly Footwear Co's Momentum Rank falls into.

Zhejiang Red Dragonfly Footwear Co Momentum Rank Related Terms

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Zhejiang Red Dragonfly Footwear Co (SHSE:603116) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Zhejiang Red Dragonfly Footwear Co Ltd (SHSE:603116) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Wangjiatun Road, Dongpu Industrial Zone, Yubei Town, Yongjia County, Zhejiang, Wenzhou, CHN, 325102

Website

http://www.cnhqt.com

Zhejiang Red Dragonfly Footwear Co Ltd is engaged in research and development, production and sale of Red Dragonfly brand shoes and leather goods, clothing and other industry. The company main products include men's and women's shoes, children's shoes and apparels, leather belts, wallets, and leather handbags, among others.

Executives

Qian Jin Bo	Director
Wang Jian Bin	Director
Zhang Shao Bin	Directors, senior managers
Xue Xia	senior management
Fang Xuan Ping	Director
Chen Ming Hai	Director
Xu Zhi Hong	senior management
Jin Yin Kuan	Director
Dong Zhong Wu	senior management
Xu Wei	senior management
Qian Xiu Fen	senior management
Chen Man Cang	Supervisors

Zhejiang Red Dragonfly Footwear Co (SHSE:603116) Headlines

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