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Norrland Gold (TSXV:NORR) Momentum Rank : 0 (As of Sep. 26, 2024)


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What is Norrland Gold Momentum Rank?

Norrland Gold 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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Norrland Gold Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Norrland Gold Corp (TSXV:NORR) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
1055 West Georgia Street, Suite 2050, P.O. Box 11121, Vancouver, BC, CAN, V6E 3P3
Website
https://www.norrlandgold.com
Norrland Gold Corp is a precious metals exploration company that is focused on gold discovery in mineral-rich Sweden. It owns the Vittantrasket located in the Gold-line, a region of orogenic gold deposits such as Barsele and Svartliden. The Company's exploration and evaluation assets are in Sweden and the Company has interests in an Australian company.

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