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Canasil Resources (TSXV:CLZ.H) Momentum Rank : 0 (As of May. 17, 2024)


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What is Canasil Resources Momentum Rank?

Canasil 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.

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Canasil Resources (TSXV:CLZ.H) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Canasil Resources Inc (TSXV:CLZ.H) » Definitions » Momentum Rank
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Traded in Other Exchanges
CNSUF:USA 3CC:Germany
Address
750 West Pender Street, Suite 1760, Vancouver, BC, CAN, V6C 2T8
Website
https://www.canasil.com
Canasil Resources Inc is a mining and mineral exploration company. It has a portfolio of precious and base metal exploration projects. The Company currently operates in only one operating segment, that being the mineral exploration industry. The company operates in the geographical areas of Canada and Mexico. It holds mineral interests in the La Esperanza project, Salamandra project, Nora project and others.

Canasil Resources (TSXV:CLZ.H) Headlines

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