New Asia Construction & Development (TPE:2516) Momentum Rank : 3 (As of May. 20, 2024)

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What is New Asia Construction & Development Momentum Rank?

New Asia Construction & Development 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 New Asia Construction & Development's Momentum Rank

For the Engineering & Construction subindustry, New Asia Construction & Development'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.

New Asia Construction & Development's Momentum Rank Distribution in the Construction Industry

For the Construction industry and Industrials sector, New Asia Construction & Development's Momentum Rank distribution charts can be found below:

* The bar in red indicates where New Asia Construction & Development's Momentum Rank falls into.

New Asia Construction & Development Momentum Rank Related Terms

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New Asia Construction & Development (TPE:2516) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » New Asia Construction & Development Corp (TPE:2516) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

N0. 760, Section 4, Bade Road,, 15,16th floor,, Songshan District, Taipei, TWN

Website

http://www.newasia.com.tw

New Asia Construction & Development Corp operates in the engineering and construction industry. The company is engaged in the construction of heavy equipment needed for civil engineering, development business related to land and community, construction, leasing, or selling of heavy equipment and public housing, and office buildings and repairs. The company is also engaged in manufacturing and selling ready mixed concrete and asphalt concrete and investment.

New Asia Construction & Development (TPE:2516) Headlines

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