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Indiva (TSXV:NDVA) Momentum Rank : 0 (As of Jun. 11, 2024)


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What is Indiva Momentum Rank?

Indiva 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.

Indiva Momentum Rank Related Terms

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Indiva (TSXV:NDVA) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Indiva Ltd (TSXV:NDVA) » Definitions » Momentum Rank
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Traded in Other Exchanges
NDVAF:USA T8RP:Germany
Address
333 Preston Street, Suite 710, Ottawa, ON, CAN, K1S 1N4
Website
https://www.indiva.com
Indiva Ltd sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, the company produces and distributes award-winning cannabis products nationally, including Bhang Chocolate, Wana Sour Gummies, Slow Ride Bakery Cookies, Jewels Chewable Tablets, Ruby Cannabis Sugar, Sapphire Cannabis Salt, as well as capsules, pre-rolls and premium flower under the INDIVA and Artisan Batch brands.
Executives
Tweed Inc. 10% Security Holder

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