Shenzhen Fortune Trend Technology Co (SHSE:688318) Momentum Rank : 9 (As of Apr. 29, 2024)

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What is Shenzhen Fortune Trend Technology Co Momentum Rank?

Shenzhen Fortune Trend Technology Co has the Momentum Rank of 9.

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 Shenzhen Fortune Trend Technology Co's Momentum Rank

For the Software - Application subindustry, Shenzhen Fortune Trend Technology 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.

Shenzhen Fortune Trend Technology Co's Momentum Rank Distribution in the Software Industry

For the Software industry and Technology sector, Shenzhen Fortune Trend Technology Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Shenzhen Fortune Trend Technology Co's Momentum Rank falls into.

Shenzhen Fortune Trend Technology Co Momentum Rank Related Terms

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Shenzhen Fortune Trend Technology Co (SHSE:688318) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Shenzhen Fortune Trend Technology Co Ltd (SHSE:688318) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 10 Kaifeng Road, Meilin Street, Room 808, 8th Floor, Huachao Building, Meilin Community, Guangdong, Futian District, Shenzhen, CHN, 518049

Website

https://www.tdx.com.cn

Shenzhen Fortune Trend Technology Co Ltd is engaged in research and development of securities analysis systems and computer communication systems. It provides securities investment analysis system for securities institutions and investors under the brand Tongdaxin. Tongdaxin's well-known online trading products are: China Merchants Securities Zhiyuan One Account, Guoxin Securities Golden Sun Edition, CITIC Securities Zhixin All-rounder, GF Securities Financial Terminal, Galaxy Securities Neptune, Guotai Junan Securities Fuyi, among others.

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