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Forza Petroleum (TSX:FORZ) Momentum Rank : 0 (As of Jun. 20, 2024)


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What is Forza Petroleum Momentum Rank?

Forza Petroleum 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.

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Forza Petroleum (TSX:FORZ) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Forza Petroleum Ltd (TSX:FORZ) » Definitions » Momentum Rank
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Traded in Other Exchanges
ORXPF:USA OYX0:Germany
Address
7th Avenue SW, 3400 First Canadian Centre 350, Calgary, AB, CAN, T2P 3N9
Website
https://www.forzapetroleum.com
Forza Petroleum Ltd is engaged in the acquisition and development of exploration and production assets to produce hydrocarbons and to increase oil and gas reserves. The company holds interests in and operates the Hawler license area in the Kurdistan Region of Iraq.
Executives
Yann Hervé Didier Marie Chiffoleau Senior Officer