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Beyond Oil (XCNQ:BOIL) Momentum Rank : 0 (As of Jun. 19, 2024)


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What is Beyond Oil Momentum Rank?

Beyond Oil 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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Beyond Oil (XCNQ:BOIL) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Beyond Oil Ltd (XCNQ:BOIL) » Definitions » Momentum Rank
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Traded in Other Exchanges
BEOLF:USA
Address
1208 Rosewood Crescent, North Vancouver, Vancouver, BC, CAN, V7P1H4
Website
https://www.beyondoil.co
Beyond Oil Ltd is a food-tech company that has developed a solution to reduce free fatty acid from oil while preserving the oil's quality and nutritional value. The company develops products that extend the usable life of frying oil improve food quality and reduce frying oil costs. It offers FryDay which is an active filter powder that eliminates harmful Free Fatty Acids (FFA) generated in the oil.
Executives
Robert Jalun Kiesman Director, Senior Officer
Jonathan Or Director, Senior Officer

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