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Asia Green Biotechnology (XCNQ:ASIA) Momentum Rank : 0 (As of Jun. 07, 2024)


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What is Asia Green Biotechnology Momentum Rank?

Asia Green Biotechnology 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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Asia Green Biotechnology (XCNQ:ASIA) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Asia Green Biotechnology Corp (XCNQ:ASIA) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
707 - 7th Avenue SW, Suite 1150, Calgary, AB, CAN, T2P 3H6
Website
https://www.asiagreenbiotechnology.com
Asia Green Biotechnology Corp is an early stage international agri-technology company focused on the development, evaluation, testing, application and, ultimately, supply to the market of proprietary organic hybridization technology and certain products derived from that technology. The core approach of the business is centred on the planting, growth and harvesting of new and valuable strains of hemp and related crops in commercial quantities. The company is developing varieties of hemp with superior growth and production characteristics in the various environments found in the licensed territories.
Executives
Johannes Kingma Senior Officer

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