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Newgrowth (TSX:NEW.PR.D.PFD) Momentum Rank : 0 (As of May. 14, 2024)


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What is Newgrowth Momentum Rank?

Newgrowth 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.

Newgrowth Momentum Rank Related Terms

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Newgrowth (TSX:NEW.PR.D.PFD) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Newgrowth Corp (TSX:NEW.PR.D.PFD) » Definitions » Momentum Rank
Comparable Companies
JSE:SCP ASX:MAM JSE:RACP XKLS:2186 LSE:MXCP ASX:MAI TSX:LFE OHEL:PNA1V TSXV:FCF OCSE:LUXOR B WAR:QRS OSTO:DDM AINC OCSE:STRINV XKRX:217620 XTER:T5O XKRX:218150 XKRX:277070 ASX:OVH HCAP
Traded in Other Exchanges
N/A
Address
40 King Street West, P.O. Box 4085, Station A, Scotia Plaza, 26th Floor, Toronto, ON, CAN, M5W 2X6
Website
http://www.scotiamanagedcompanies.com
Newgrowth Corp is a mutual fund corporation incorporated in Canada. The company holds a portfolio consisting of publicly listed common shares of selected Canadian chartered banks, telecommunications, oil and gas and pipeline and utility issuers. The policy of the company is to invest in Portfolio Shares and not engage in trading except in limited circumstances, including to fund retractions or redemptions of Capital Shares and Preferred Shares.

Newgrowth (TSX:NEW.PR.D.PFD) Headlines

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