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MAX Resource (TSXV:MAX) Momentum Rank : 0 (As of Jun. 16, 2024)


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What is MAX Resource Momentum Rank?

MAX Resource 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.

MAX Resource Momentum Rank Related Terms

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MAX Resource (TSXV:MAX) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » MAX Resource Corp (TSXV:MAX) » Definitions » Momentum Rank
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TSXV:ADY TSXV:TSLV TSX:ORV TSXV:ARU TSXV:TBX TSXV:PERU TSXV:AZS TSXV:ARK TSXV:CN TSXV:VML ISX:AMMN JSE:AMS SZSE:000975 MIC:ALRS LSE:FRES JSE:IMP ISX:MBMA LIM:BUENAVC1 TSX:TFPM HL
Traded in Other Exchanges
MXROF:USA M1D2:Germany
Address
1095 West Pender Street, Suite 1188, Vancouver, BC, CAN, V6E 2M6
Website
https://www.maxresource.com
MAX Resource Corp is a mineral exploration company advancing the newly discovered district-scale Cesar copper-silver project. Its Cesar project sits along with the Colombian portion of the largest producing copper belt (Andean belt), with infrastructure and the presence of global majors (Glencore and Chevron). The company holds a 100% interest in the RT Gold project in Peru. It has one operating segment which is the exploration of resource properties.