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Ecopetrol (TSX:ECP) Momentum Rank : 0 (As of May. 05, 2024)


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What is Ecopetrol Momentum Rank?

Ecopetrol has the Momentum Rank of 0.

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.

Ecopetrol Momentum Rank Related Terms

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Ecopetrol (TSX:ECP) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Ecopetrol SA (TSX:ECP) » Definitions » Momentum Rank
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Traded in Other Exchanges
EC:USA ECHA:Germany ECHA:Germany ECOPETROL:Columbia E1CO34:Brazil
Address
Carrera 13 No. 36 - 24, Main Building, Bogota, COL
Website
https://www.ecopetrol.com.co
Ecopetrol SA is a vertically integrated oil company with operations in Latin America and the United States Gulf Coast. Based out of Colombia, the company explores, develops, and conducts production activities in various countries. Ecopetrol works as the primary operator or partner in a joint venture, in a host of assets held onshore and offshore. Along with production, the company refines and markets crude oils and byproducts produced from its fields. Crude products are moved by Ecopetrol through a series of pipelines throughout Colombia, along with a network of third-party production centers and facilities.

Ecopetrol (TSX:ECP) Headlines

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