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STEER Technologies (STEER Technologies) Momentum Rank : 6 (As of May. 04, 2024)


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What is STEER Technologies Momentum Rank?

STEER Technologies has the Momentum Rank of 6.

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 STEER Technologies's Momentum Rank

For the Software - Application subindustry, STEER Technologies'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.

STEER Technologies's Momentum Rank Distribution in the Software Industry

For the Software industry and Technology sector, STEER Technologies's Momentum Rank distribution charts can be found below:

* The bar in red indicates where STEER Technologies's Momentum Rank falls into.


STEER Technologies Momentum Rank Related Terms

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STEER Technologies (STEER Technologies) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Software » STEER Technologies Inc (OTCPK:STEEF) » Definitions » Momentum Rank
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Traded in Other Exchanges
H1Y:Germany STER:Canada
Address
44 East Beaver Creek Road, Unit 16, Richmond Hill, ON, CAN, L4B 1G8
Website
https://www.steeresg.com
STEER Technologies Inc is an integrated ESG technology platform that moves people and delivers things through subscription and on-demand services. The company's goal is to build a one-of-a-kind system that aggregates conscientious users and enables them to buy, sell, or invest with the same platform. STEER offerings generally fall into two categories namely subscription-based offerings led by its flagship electric vehicle subscription business, STEER EV, and on-demand services incorporating B2B marketplace, Delivery-as-a-Service (DaaS), and rideshare businesses. The company's platform is powered by EcoCRED, it's analytics and machine learning engine which seeks to capture, analyze, parse, and report on key data points to measure the carbon impact.