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Canuc Resources (TSXV:CDA) Momentum Rank : 0 (As of Jun. 23, 2024)


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What is Canuc Resources Momentum Rank?

Canuc Resources 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.

Canuc Resources Momentum Rank Related Terms

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Canuc Resources (TSXV:CDA) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Canuc Resources Corp (TSXV:CDA) » Definitions » Momentum Rank
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Traded in Other Exchanges
CNUCF:USA
Address
130 Queens Quay East, Suite 607, Toronto, ON, CAN, M5A 3Y5
Website
https://www.canucresources.ca
Canuc Resources Corp is a junior resource company. It is engaged in the acquisition, exploration, development, and extraction of natural resources. The company projects include San Javier and Saskatchewan Project. It operates in two business segments namely, mineral exploration and investments in oil and gas interests. The company's geographical segments include Canada, the United States of America, and Mexico.
Executives
Christopher James Berlet Director

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