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TruTrace Technologies (XCNQ:TTT) Momentum Rank : 0 (As of Jun. 19, 2024)


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What is TruTrace Technologies Momentum Rank?

TruTrace Technologies 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.

TruTrace Technologies Momentum Rank Related Terms

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TruTrace Technologies (XCNQ:TTT) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Software » TruTrace Technologies Inc (XCNQ:TTT) » Definitions » Momentum Rank
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Traded in Other Exchanges
TTTSF:USA
Address
61 Regal Road, Toronto, ON, CAN, M6H 2J6
Website
https://www.trutrace.co
TruTrace Technologies Inc is the developer of fully integrated software, secured on a blockchain infrastructure, that gives clients' the ability to store, manage, share and immediately access quality assurance and testing details, COAs, as well as motion and movement intelligence on inventory. The platform was specifically designed to power the traceability of testing standards within the legal cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation.
Executives
Michael Kraft Director

TruTrace Technologies (XCNQ:TTT) Headlines

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