Interpipe Nyzhnodniprovsky Tube-Rolling Plant PJSC (UKEX:NITR) Momentum Rank : 0 (As of Jun. 24, 2024)

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What is Interpipe Nyzhnodniprovsky Tube-Rolling Plant PJSC Momentum Rank?

Interpipe Nyzhnodniprovsky Tube-Rolling Plant PJSC 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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Interpipe Nyzhnodniprovsky Tube-Rolling Plant PJSC (UKEX:NITR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Interpipe Nyzhnodniprovsky Tube-Rolling Plant PJSC (UKEX:NITR) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

1A, Pisarzhevskogo Street, Dnepropetrovsk, UKR, 49000

Website

http://www.ntz.dp.ua

Interpipe Nyzhnodniprovsky Tube-Rolling Plant PJSC is engaged in the production and sale of steel, metal pipes, forged wheels, ring items and bandages, and other industrial products. It caters to the companies involved in oil & gas production and transportation, machinery-building enterprises, construction firms, manufacturers of fabricated metals, companies supplying water and gas pipelines, and other industrial and municipal firms.

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