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Claren Energy (TSXV:CEN.H) Momentum Rank : 0 (As of Jun. 05, 2024)


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What is Claren Energy Momentum Rank?

Claren Energy 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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Claren Energy (TSXV:CEN.H) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Claren Energy Corp (TSXV:CEN.H) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
1199 West Hastings Street, Suite 1100, Vancouver, BC, CAN, V6E 3T5
Website
http://www.clarenenergy.com
Claren Energy Corp is a Canada-based company that is principally engaged in the business is the acquisition and exploration of petroleum and natural gas properties. Geographically, the company operates within Canada and Romania. It generates majority of its revenue from Canada.

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