Nanjing Develop Advanced Manufacturing Co (SHSE:688377) Momentum Rank : 1 (As of May. 29, 2024)

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What is Nanjing Develop Advanced Manufacturing Co Momentum Rank?

Nanjing Develop Advanced Manufacturing Co has the Momentum Rank of 1.

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 Nanjing Develop Advanced Manufacturing Co's Momentum Rank

For the Oil & Gas Equipment & Services subindustry, Nanjing Develop Advanced Manufacturing 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.

Nanjing Develop Advanced Manufacturing Co's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Nanjing Develop Advanced Manufacturing Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Nanjing Develop Advanced Manufacturing Co's Momentum Rank falls into.

Nanjing Develop Advanced Manufacturing Co Momentum Rank Related Terms

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Nanjing Develop Advanced Manufacturing Co (SHSE:688377) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Nanjing Develop Advanced Manufacturing Co Ltd (SHSE:688377) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

No.8 Dixi Road, Liuhe District, Jiangsu Province, Nanjing, CHN, 210048

Website

http://www.nj-develop.com

Nanjing Develop Advanced Manufacturing Co Ltd is engaged in production and sales of special parts for oil and gas equipment. The company manufactures and sells petroleum and natural gas mining equipment and components, components and high-pressure valves, offshore engineering mining equipment and components.

Executives

Li Yue Ling	Directors, senior managers
Zhang Hong	Directors, senior managers

Nanjing Develop Advanced Manufacturing Co (SHSE:688377) Headlines

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