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Ovation Science (XCNQ:OVAT) Momentum Rank : 0 (As of Jun. 21, 2024)


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What is Ovation Science Momentum Rank?

Ovation Science 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.

Ovation Science Momentum Rank Related Terms

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Ovation Science (XCNQ:OVAT) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Ovation Science Inc (XCNQ:OVAT) » Definitions » Momentum Rank
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Traded in Other Exchanges
OVATF:USA 0VH:Germany
Address
625 Howe Street, Suite 1140, Vancouver, BC, CAN, V6C 2T6
Website
https://www.ovationscience.com
Ovation Science Inc is a Canada-based company mainly engaged in the business of sub-licensing rights to use Invisicare, a patented drug delivery technology used in topical and transdermal skin products containing hemp seed oil and cannabis products. The company also holds the right to manufacture, distribute, sell, market, sub-license and promote products formulated with Invisicare and containing cannabis products including cannabinoids, hemp seed oil and any synthetic derivatives of cannabis. It also develops formulas for skin product lines including topical and transdermal creams and lotions containing hemp seed oil and cannabis.
Executives
David K. Ryan Director

Ovation Science (XCNQ:OVAT) Headlines

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